The Natural Climate Solutions Alliance welcomes the release of Version 2 of the Science Based Targets initiative’s (SBTi) Corporate Net-Zero Standard.
The updated standard provides a clear pathway to scale financing for natural climate solutions through voluntary carbon credits, enabling companies to address ongoing emissions as part of ambitious climate strategies.
Deep emissions reductions remain the foundation of credible corporate climate action. At the same time, the new standard recognises the role that high-integrity carbon credits, including nature-based solutions and carbon removals, can play in addressing ongoing emissions and residual emissions during the transition to net zero.
We particularly welcome the introduction of the Ongoing Emissions Responsibility (OER) framework, which provides companies with a structured pathway to take action on emissions that continue while they decarbonise. The framework creates clearer opportunities for companies to support climate action beyond their value chains while maintaining the standard’s no-netting principle and strong emphasis on emissions reductions.
The standard also reflects a broader direction of travel across the climate ecosystem. Alongside developments such as ICVCM CCP’s, Article 6 of the Paris Agreement, the Coalition to Grow Carbon Markets and emerging national frameworks, it contributes to growing convergence around what credible corporate climate action looks like and how high-integrity carbon markets can support it.
For the natural climate solutions community, the explicit recognition of activities that restore, protect and enhance natural carbon sinks provides an important signal that nature remains a critical component of credible climate strategies. Mobilising significantly greater investment into high-quality natural climate solutions will be essential to achieving global climate, biodiversity and sustainable development goals.
While further guidance will be needed in certain areas, we believe the updated standard represents an important step forward in providing companies with practical pathways to address ongoing emissions while accelerating finance for climate and nature.
We look forward to continuing to work with companies, standard setters, governments and market participants to support high-integrity implementation and the scaling of finance for natural climate solutions.