Why is it in the news?
- The recent decision by SBTi to permit companies to use carbon offsets to meet their climate goals has sparked widespread criticism.
More about the news
- SBTi is a corporate climate action organization aimed at combating the climate crisis by enabling companies and financial institutions worldwide to set science-based targets.
- It defines and promotes best practices in emissions reductions and net-zero targets in alignment with climate science.
- The initiative develops standards, tools, and guidance to assist companies and financial institutions in setting science-based targets based on the latest climate science.
- SBTi also offers validation services to assess and validate the targets set by companies and financial institutions, ensuring they are in line with scientific recommendations.
| Carbon Offsets
· Carbon offsets are a mechanism for organizations or individuals to mitigate their carbon dioxide emissions by investing in projects that reduce or prevent emissions elsewhere. · These projects may include activities like renewable energy projects, reforestation initiatives, and methane capture from landfills. · By purchasing carbon offsets, companies or individuals can compensate for their own carbon emissions, effectively “offsetting” their environmental impact and contributing to climate change mitigation efforts. |
