Our new offsetting strategy as a service helps businesses achieve net-zero with expert carbon offsetting, guiding them through upcoming SBTi changes for Scope 3 emissions.
We are delighted to share a new initiative aimed at assisting companies in executing robust carbon offsetting strategies. This initiative exists to facilitate organizations in their journey towards achieving net-zero emissions targets. With growing emphasis on achieving net-zero goals, companies need to address unavoidable emissions. Here, we can offer a structured offsetting strategy and share our expertise to guide businesses in project selection, regulations, and crafting effective offsetting plans.
Climate change is an undeniable threat, and achieving net-zero emissions is crucial for mitigating its effects. Businesses have a significant role to play, and ClimateTrade is here to help whatever stage of sustainability you’re currently facing.
Environmental responsibility and net-zero goals
The emphasis on achieving net-zero emissions is growing, prompting companies to address unavoidable emissions within their operations. The new initiative provides a structured approach to carbon offsetting, guiding businesses in project selection, navigating regulations, and crafting effective offsetting plans.
A three-phase approach to carbon offsetting
ClimateTrade’s comprehensive service is divided into three key phases:
1/ Setting Up the Strategy: Through collaborative workshops, ClimateTrade works closely with clients to assess their offsetting goals and challenges. This initial phase results in a tailored carbon offsetting strategy aligned with the client’s specific timeline and objectives.
2/ Project Selection: ClimateTrade leverages its vast network of developers and registries to source optimal offsetting projects that meet the client’s specifications. This ensures transparency, quality assurance, and the creation of a bespoke project portfolio.
3/ Strategy Update and Review: ClimateTrade understands that a successful strategy requires continuous monitoring and refinement. Regular assessments are conducted to ensure offsetting progress aligns with the client’s goals. Through ongoing dialogue and performance evaluation, ClimateTrade keeps the offsetting strategy dynamic and responsive to evolving needs.
SBTi to allow use of Carbon Credits for Scope 3 emissions abatement
The Science Based Targets initiative (SBTi) plays a vital role in holding companies accountable for their net-zero pledges. However, achieving SBTi validation can be challenging. Recently, over 200 companies had their net-zero commitments removed by SBTi due to failing to submit concrete targets for validation within the designated time frame. While these companies remain committed to net-zero goals, translating ambitions into achievable SBTi-validated targets presents a significant hurdle.
In positive news however, the Science Based Targets initiative (SBTi) is currently revising its Corporate Net-Zero Standard to include further guidance on tackling Scope 3 emissions, the most challenging category to address.
While acknowledging ongoing debate, SBTi recognizes the potential of environmental attribute certificates (carbon credits) for Scope 3 abatement when supported by proper policies and scientific evidence. As a result, they’re expanding their use for this purpose.
Key takeaways:
1/SBTi will define rules, thresholds, and safeguards for using carbon credits for Scope 3 abatement.
2/Collaboration with other initiatives and stakeholders is planned for revising the Scope 3 framework.
3/SBTi won’t validate carbon credit quality, focusing instead on user-side requirements.
This is seen as a way to accelerate value chain decarbonization while companies develop solutions to eliminate emissions at the source.
4/A draft with initial rules for carbon credit use in Scope 3 abatement is expected by July 2024.
Net-Zero now: ClimateTrade can help your company achieve its goals
Given these upcoming changes from SBTi, navigating the complexities of Scope 3 offsets will be even more crucial for companies. ClimateTrade is well-positioned to support businesses in this evolving landscape. Our expertise in project selection and with our strong network of developers can ensure companies secure high-quality carbon credits that meet the new SBTi guardrails and contribute to verified emissions reductions. Furthermore, our ongoing monitoring and review process aligns perfectly with SBTi’s emphasis on robust accounting and transparency. By partnering with ClimateTrade, companies can navigate the new regulations with confidence, ensuring their offsetting strategy remains effective and contributes to their overall SBTi-aligned net-zero goals.
