| The world’s top arbiter of corporate climate goals has described as mostly “ineffective” a financial instrument that’s used by a number of major companies to back up their emissions claims.
The Science Based Targets initiative, the de facto global regulator of private-sector CO2 targets, said its review of third-party studies indicates that “various types of carbon credits are ineffective in delivering their intended mitigation outcomes.” What’s more, corporate use of carbon credits could stall decarbonization efforts and reduce the flow of climate finance, SBTi said in a report.
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