The Science-Based Targets initiative (SBTi) has released two new reports on the design and implementation of beyond-value-chain mitigation (BVCM) by corporates. BVCM occurs outside of a company’s value chain, and as such, does not reduce its Scope 1, 2 or 3 emissions. Rather, it sees a company contribute towards achieving a ‘societal’ net zero, and go beyond achieving a net zero carbon footprint at its level only. BVCM is a requirement of the SBTi’s Corporate Net-Zero Standard, which outlines steps for companies when setting science-based net-zero targets. The SBTi has also released guidance on the design and implementation of BVCM strategies, as well as on how to accelerate corporate adoption of BVCM. In related news, the World-Wide Fund for Nature (WWF) has published guidance for companies on setting ambitious and credible climate targets that meet EU legal requirements set out by the Corporate Sustainability Reporting Directive (CSRD). The WWF guidance recommends that SBTi standards allow companies to comply with climate target-related requirements included in the CSRD, and in the EU Corporate Sustainability Due Diligence Directive (CSDDD).
Today the SBTi releases two new reports on beyond value chain mitigation (#BVCM).
These reports support the design and implementation of strategies and mobilize increased BVCM action from corporations. 🧵
— Science Based Targets initiative (@sciencetargets) February 28, 2024
