illuminem summarizes for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:

🗞️ Driving the news: Luiz Amaral, CEO of the Science Based Targets initiative (SBTi), is stepping down following controversy over the organization's consideration of carbon offsets as a method for companies to meet climate goals

🔭 The context: SBTi, which validates corporate climate targets, faced backlash after announcing it might include carbon offsets in its toolkit
• Critics argue that many offsets are ineffective and do not genuinely reduce emissions, with some internal dissent within SBTi itself

🌍 Why it matters for the planet: The debate over carbon offsets highlights the challenges and disagreements in defining effective climate strategies
• Ensuring rigorous and genuine emissions reductions is crucial for meeting global climate targets

⏭️ What's next: SBTi remains in consultation on the offsets issue, with no final decision made. Susan Jenny Ehr, currently chief legal officer, will serve as interim CEO while the organization seeks a permanent replacement for Amaral

💬 One quote: "I remain steadfast in my belief in the importance, the impact and the promising future of the SBTi," said Luiz Amaral

📈 One stat: Over 5,000 companies have had their climate targets validated by SBTi, with more than 3,000 others pledging to do so

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