Global climate standard challenged by staff over carbon credit decision
THE PRIMARY standard used globally to evaluate corporate climate efforts faces allegations of “greenwashing” from its own employees. This comes as businesses are permitted to utilize carbon credits to neutralize emissions generated throughout their value chains.
The ruling by the Science-Based Targets Initiative (SBTi) was slammed as a “coup” on Thursday and has sparked a revolt by staff who want the decision reversed and the nonprofit’s CEO and board to resign.
Experts say it could irreversibly damage the credibility of the SBTi, which is partnered with the U.N. Global Compact and WWF and is the gold standard for assessing the net zero plans of big business.
An internal letter sent to SBTi leadership, and seen by Agence France-Presse (AFP), said the board’s decision was taken without adequate consultation, defied science and “resulted in significant harm to our organization’s reputation and viability.
“We stand ready to support any efforts aimed at ensuring that the SBTi does not become a greenwashing platform where decisions are unduly influenced by lobbyists, driven by potential conflicts of interest and poor adherence to existing governance procedures,” read the letter to SBTi’s CEO and board of trustees.
It was signed by staff from “the Target Validation Team, Target Operations Team, the Technical Department, Communications, Impact and IT and multiple department heads.”
Comment has been sought from SBTi and the We Mean Business Coalition, one of its main partners.
‘EXTREMELY SERIOUS’
On April 9, SBTi issued a statement rolling back its previous opposition to the use of carbon credits to offset Scope 3 emissions.
These occur in the value chain and represent the lion’s share of the carbon footprints - in some cases more than 90% - of most companies.
Carbon credits are generated by projects that reduce or avoid emissions - like renewable energy, tree planting and forest protection - and sold to companies wanting to offset pollution from their activities.
But critics say offsets give corporations a free pass to keep polluting without cleaning up their act, and their usage to make claims of “carbon neutrality” has become increasingly contentious.