Senken
Carbon Credits Support
FromSenken
The latest Intergovernmental Panel on Climate Change (IPCC) report reveals that greenhouse gas (GHG) emissions have reached unprecedented levels in human history. Without significant emission reductions from human activities, the 1.5°C warming limit, beyond which catastrophic impacts on both people and nature become inevitable, is likely to be exceeded. To limit global warming to 1.5°C, the IPCC urges businesses across sectors to take immediate action and reduce their emissions increasingly, setting targets to half emissions by 2030 and to reach net zero before 2050.
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IPCC
- The Intergovernmental Panel on Climate Change (IPCC) sets thresholds to limit global warming to 1.5°C above pre-industrial levels. To stay within the limits, companies must halve their emissions by 2030 and reach net zero before 2050.
- The SBTi supports companies in achieving the IPCC’s limit to net zero by setting clearly defined and achievable targets. Carbon credits are a powerful tool to remove and store CO2 emissions. However, as part of net zero strategies, they can sometimes overlook important climate mitigation projects.
- For this reason, the SBTi has introduced the Beyond Value Chain Mitigation (BVCM) claim that allows companies to support climate projects as a recognised effort in achieving net zero.
- The SBTi recognises the Voluntary Carbon Market Integrity Initiative (VCMI) Claims Code of Practice as a guide for organisations to set ambitious climate goals and to select high-quality BVCM projects to include in corporate climate strategies.