The Science Based Targets initiative (SBTi) is in the process of updating its flagship Net-Zero Standard and has released revised terms of reference indicating there will be a new approach to carbon removal.
One of the key areas of focus is refining the strategy around carbon removal, or what the organization refers to as “neutralization” in its communications. The goal is to clarify immediate actions companies can take to achieve the long-term goal of addressing residual emissions, as defined by scientific standards.
The revision seeks to provide clearer guidance for companies on how to achieve net-zero targets using credible, scientifically supported carbon removal and storage methods, aligning the standard with the IPCC’s opinion that removals have a role to play in the immediate future.
The revision will also involve work on the approach towards Scope 3 emissions, which has caused contention among carbon market participants and stakeholders.
