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illuminem summarizes for you the essential news of the day. Read the full piece on ESG News or enjoy below:
🗞️ Driving the news: The Science Based Targets initiative (SBTi) is revising its Corporate Net-Zero Standard to improve how companies neutralize their remaining emissions after reaching reduction goals
• The update will incorporate the latest climate science and enhance credibility and transparency for corporate climate action
🔭 The context: The revision will refine carbon removal and storage guidelines, particularly for emissions that can't be further reduced
• SBTi is hosting workshops during Climate Week NYC and in London to gather industry input and shape the updated standard
🌍 Why it matters for the planet: By aligning with the latest scientific findings, the revised Standard will ensure stronger and more accountable net-zero claims from corporations, contributing to global climate goals
⏭️ What's next: A public consultation will be held in late 2024 or early 2025, allowing stakeholders to provide feedback
• The final version of the revised Standard is expected to be published by Q4 2025
💬 One quote: The update aims to "ensure robust validation of net-zero claims," reflecting the latest climate science, says the SBTi
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