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illuminem summarizes for you the essential news of the day. Read the full piece on Wall Street Journal or enjoy below:
🗞️ Driving the news: The Science Based Targets initiative (SBTi) released scenarios exploring the use of carbon credits in corporate net-zero targets, despite finding limited evidence of their effectiveness in reducing emissions
🔭 The context: SBTi, which validates corporate climate targets, has been scrutinizing carbon credits, often used to offset emissions
• The recent report questions their efficacy, though SBTi has not ruled out including them in future standards
🌍 Why it matters for the planet: The legitimacy of carbon credits is crucial as they are widely used in corporate strategies for emission reductions, impacting global efforts to combat climate change
⏭️ What's next: SBTi plans to release a draft of its updated net-zero standard by the end of the year, with potential inclusion of carbon credits, aiming for implementation by late 2025
💬 One quote: "Direct decarbonization must remain the priority for corporate climate action," emphasized Alberto Carrillo Pineda, SBTi’s Chief Technical Officer
📈 One stat: SBTi has validated climate targets for over 5,000 companies, highlighting its significant role in global corporate climate strategies
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