Our Call to Action on Equitable Decarbonization Featured in Triple Pundit
As the Science Based Targets initiative considers potential changes to its guidelines for how companies invest in (and get credit for) climate solutions, something feels wrong.
New guidance could signal to companies like Meta, Microsoft, and Nestlé that investing in life-saving electric stoves in the homes of people who work in their supply chains and use their products isn’t a priority.
SBTI has an opportunity to prioritize equity and fast climate action by:
Rethinking Scope 3 guidance to promote investment in anti-poverty decarbonization efforts, which can be shown to be more accurately measured and carefully audited than Scope 3 inventories, but have been excluded from Scope 3 definitions by organizations in the Global North.
Requiring Beyond Value Chain Mitigation that benefits the most climate-vulnerable communities.
For example, what if companies were allowed to count investment in emissions reductions from electric cooking that avoids fossil fuel lock-in and adheres to Core Carbon Principles for accuracy? Or better yet, what if such activities were required under BVCM? Who then gets to draw that specific but arbitrary line of "that’s not our problem"?
While it may seem like a long shot, we believe there are many equity-oriented voices in the climate space who will resonate with UpEnergy’s Rehema Mbalamwezi and Matt Evans' call to action on this critical issue of climate justice that is currently ignored in the Global North.
Read the full article on “The Casualties of Inequitable Decarbonization” here:
https://www.triplepundit.com/story/2024/SBTi-environmental-attribute-certificates/810761
#climatejustice #equitabledecarbonization #climateaction #VCM #SBTi #CarbonFinance #EnergyPoverty #GlobalSouth #SBTiGuidelines #Scope3Emissions #NetZeroTargets #ClimateRisk #ScienceBasedTargetsInitiative #climateweeknyc