"SBTi Faces Turmoil as Companies Seek to Use Carbon Offsets for Net Zero Targets"
The Science Based Targets initiative (SBTi) is facing internal turmoil as staff members call for the CEO's ouster and the reversal of a decision to allow companies to use carbon credits to offset greenhouse gas emissions from their value chain. This move, which has received mixed responses from stakeholders and NGOs, has sparked criticism over its potential to let companies off the hook for reducing emissions. The decision, which was made without consulting the technical advisory group, has led to resignations and demands for board members' resignation. Proponents argue that allowing offsets would help companies align with climate goals and attract investor support, while critics worry about its impact on emission reduction efforts.
