ICVCM Welcomes SBTi Decision to Allow Environmental Attribute Certificates for Scope 3

The Integrity Council for the Voluntary Carbon Market has welcomed the Science Based Targets initiative's decision to extend the use of environmental attribute certificates, including voluntary carbon credits, for the abatement of Scope 3 emissions when supported by scientific evidence and robust standards. The ICVCM stated that CCP-labelled credits will be an important complementary tool for companies with science-based targets.

The SBTi Board of Trustees announced that environmental attribute certificates could be used for Scope 3 abatement purposes, provided they are underpinned by credible policies, standards, and scientific procedures. The ICVCM's governing board responded by confirming that its ongoing program and category assessments are designed precisely to provide the scientific rigour and high-integrity threshold that the SBTi decision requires. The first CCP-Eligible programs have already been approved, with further program and category decisions expected in the coming months.

The SBTi decision is significant for a wide range of Indian and global companies that face Scope 3 emissions they cannot yet eliminate through direct action alone. The ICVCM framed CCP-labelled credits as a complement to — not a substitute for — rapid reductions in fossil fuel use and deforestation within corporate value chains. Its statement cited data suggesting that if the world's top 1,700 emitters compensated for just 10% of their annual unabated value chain emissions through high-integrity credits, it could preserve more than 10% of the remaining 1.5-degree carbon budget.

The ICVCM also noted that channelling such investment into nature protection could raise up to $1 trillion in finance by 2030. This figure underscores the market-scale potential of well-governed voluntary carbon markets when integrity standards are sufficiently robust to attract institutional buyers. The ICVCM stated it looks forward to continued collaboration with the SBTi as the two organisations align on the role of high-integrity carbon credits within credible corporate net-zero pathways.

Key figure — $1 trillion — potential finance for nature protection by 2030 if top 1,700 global emitters offset 10% of value chain emissions via high-integrity credits