CMW has sketched the scenario of companies adhering to both the LSRS and the SBTi’s FLAG Guidance, and found worrying evidence that compliance with the FLAG Guidance is taking precedence over the LSRS
The newly released Greenhouse Gas Protocol Land Sector and Removals Standard (LSRS) establishes a critical framework for companies to account for land-based emissions and carbon removals, addressing long-standing gaps in corporate climate disclosure. However, the standard’s potential to drive genuine decarbonisation and accurately account for emissions and removals is compromised by two structural ambiguities.
This research finds that climate impact funds support varying mitigation actions, with most funds conducting their own due diligence and encouraging companies to adopt a BVCM approach without misleading compensation claims.
A vacuum of evidence exists to prove the claims of market actors that carbon credits purchased on the voluntary carbon market accelerate corporate internal decarbonisation. An examination of reality shows that market confidence may be driven by noise, rather than a clear signal.
A revision of the Science Based Targets initiative’s CNZS v2.0 corporate net-zero standard reveals a welcome push towards greater accountability, despite some shortcomings.
Fresh evidence published by the Science Based Targets initiative (SBTi) confirms the unsuitability of carbon offsetting to meet emissions targets, echoing the findings of a new Carbon Market Watch study that casts doubt over the fairness of financial flows in the voluntary carbon market (VCM).
In this joint statement, 80 civil society organisations, including Carbon Market Watch, express their opposition to the use of carbon credits for offsetting purposes and the recent move towards relaxing rules surrounding indirect scope 3 emissions, such as the recent controversy at the Science-based Targets initiative (SBTi). Climate targets must focus primarily on the reduction …
Read more “Why carbon offsetting undermines climate targets – Joint NGO statement”
Carbon Market Watch strongly condemns the SBTi Board of Trustees’ announcement to recognise carbon credits as a way to “abate” scope 3 emissions. These indirect, value chain emissions usually make up the lion’s share of a company’s carbon footprint.
This joint letter urges the Voluntary Carbon Markets Integrity Initiative (VCMI), the Science Based Targets initiative (SBTi) and the Greenhouse Gas Protocol to refrain from granting companies the “flexibility” to offset a portion of their scope 3 (indirect value chain) emissions. “This approach is counterproductive, and largely backed by actors with direct financial interests in …
Read more “Open letter on the use of carbon credits to meet scope 3 GHG targets”
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