This joint letter urges the Voluntary Carbon Markets Integrity Initiative (VCMI), the Science Based Targets initiative (SBTi) and the Greenhouse Gas Protocol to refrain from granting companies the “flexibility” to offset a portion of their scope 3 (indirect value chain) emissions. “This approach is counterproductive, and largely backed by actors with direct financial interests in allowing this flexibility,” the letter states.

The letter is signed by Carbon Market Watch, NewClimate Institute, Greenpeace, BEUC – The European consumer organisation, Changing Markets Foundation and Oxford Net Zero.