CDR sector calls for changes to SBTI’s latest draft Corporate Net-Zero Standard

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illuminem summarises for you the essential news of the day. Read the full piece on Carbon Herald or enjoy below:

🗞️ Driving the news: 55 stakeholders from the carbon dioxide removal (CDR) sector have signed an open letter calling for changes to the Science-Based Targets Initiative (SBTI)’s draft Corporate Net-Zero Standard Version 2.0.
• The letter highlights concerns that the current draft creates uncertainty around the eligibility of carbon removals for neutralization claims, potentially making it more difficult and costly for companies to achieve net-zero goals

🔭 The context: SBTI launched a public consultation on November 6th for its updated Corporate Net-Zero Standard
• However, the CDR sector warns that the draft’s current language could hinder corporate climate action rather than promote it
• The concerns center around the potential limitations on carbon removals, which are critical for companies striving to meet ambitious climate targets

🌍 Why it matters for the planet: Carbon dioxide removal is seen as a vital tool in the fight against climate change, helping to neutralize emissions that are otherwise difficult to eliminate
• If the SBTI’s draft standard is not amended, it could limit the ability of businesses to use CDR solutions, slowing progress toward global climate goals
• This issue is especially pressing as companies aim to align with net-zero targets and support the global push for sustainability

⏭️ What’s next: The CDR sector has proposed specific changes to the draft standard, including revisions to eligibility requirements for neutralization claims and adjustments to the definition of "additionality" in voluntary applications
• These proposed changes aim to make it easier for companies to use CDR towards their net-zero goals

💬 One quote: “The current wording risks hindering progress and causing more damage than positive impact.” — Open letter from the CDR community

📈 One stat: The letter has garnered support from key players, including Puro.earth, Climeworks, and Stripe, among others, representing a broad swath of the CDR sector

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