The Science-based Targets Initiative (SBTi) recently released their Net-Zero Targets draft criteria in which emissions reductions outside of companies’ value chains do not count towards companies’ net-zero targets. In response, Emergent has detailed a letter together with the Green Gigaton Challenge partners (UN-REDD Programme, Environmental Defense Fund, Forest Trends, and the Architecture for REDD+ Transactions) to emphasize the importance and urgency of including high-integrity credits for reducing deforestation in SBTi’s net-zero targets. Public consultations extended to March 12, 2021.
We feel strongly that compensation based on rigorous standards for high-integrity, jurisdictional REDD+ credits should count towards companies’ net-zero targets. There is no plausible pathway to global net zero that does not involve protecting nature.
Our letter in response to SBTi’s current Net-Zero criteria draft further explains the urgent need to reduce emissions from deforestation to accelerate the transition to global net-zero.