We are operating in an era of increasing corporate targets and action on climate. According to the latest 2021 research there has been a three-fold increase in Fortune 500 companies setting net zero targets, a 50% increase in the number of companies that have either achieved carbon neutrality or are targeting it by 2030, and a 25% increase in commitments to science-based targets. With that increase, comes a proliferation of different claims and ways that corporates are talking about their climate impact. And increasing scrutiny about what makes a claim credible. Claims about offsetting, carbon neutrality and net zero are no exception.
In response, as the Voluntary Carbon Market continues to grow, a number of bodies are seeking to tackle this issue and bring consistency and clarity to corporate claims. In the last month, we have seen the release of new guidance and consultations from the Voluntary Carbon Markets Integrity Initiative (VCMI), Gold Standard, the U.S. Securities and Exchange Commission (SEC), and the Nordic Dialogue on Voluntary Compensation.
How can your team navigate the multitude of advice and find the best way to express your climate action?
We interviewed Climate Impact Partners’ Director of Policy and External Affairs, Rob Stevens, to get the latest advice for corporates looking to make a claim about climate impact.