Epic emissions engagement

Big Tech is a Big Fan of Carbon Credits. Big Tech is also a Big Transition Fan. Incidentally, Big Tech is a Big Funder of said transition and all the busy activist bees promoting it. But now the bees are turning on the beekeepers. Because they are definitely not fans of carbon credits.

On April 9th, the Science Based Targets initiative, described by transition media as “The world’s leading arbiter of corporate climate targets” and “the biggest and most-respected verifier of corporate climate targets”, issued a statement that caused a revolt among its employees.

In that statement, the SBTi said that despite “an ongoing healthy debate on the subject matter,” “the use of environmental attribute certificates for abatement purposes on Scope 3 emissions could function as an additional tool to tackle climate change.”

The statement apparently riled up the organisation’s workforce because, per one senior employee as quoted by the FT, “This would not incentivise companies to reduce their emissions, it would be a perverse incentive to just buy cheaper carbon credits.”

Three days later, the Financial Times again reported that SBTi had taken it all back and had said there was no change in its current selective attitude to carbon credits, to be formalised in July.

Here’s a fun fact. One of the biggest funders of the SBTi is the Bezos Earth Fund. And here’s another fun fact. All the Big Tech majors are counting on carbon credits to achieve net-zero status. Because there is no other way in Heaven, Hell or Earth to do it. And this has set Big Tech majors on a direct collision course with the busy activist bees they are funding. It’s going to be epic.