The letter from Carbon Market Watch emphasises the importance of financing additional measures outside the company's value chain. It encourages companies to pursue a clearly comprehensible and credible climate strategy that includes promoting such climate protection measures in addition to the inevitable internal reduction path.
"The Carbon Market Watch catalogue corresponds exactly to our understanding of corporate climate protection. On the path to net zero, companies must continuously and purposefully pursue measures for internal decarbonisation. At the same time, due to the lack of time and increasing climate pressure, initiatives outside the company's value chain effectively complement internal measures. They play a fundamentally important role in achieving the global climate targets," says Kai Rassmus Landwehr, Co-Managing Director of myclimate and co-signatory of the document on behalf of the organisation.
The approach is reflected in the five key steps described in the signed document:
- Calculating and disclosing a company's climate footprint, including all Scope 1, 2 and 3 emissions.
- Setting a budget for climate protection measures outside its value chain, for example, through an internal CO₂ price or revenue share.
- Careful examination and selection of a portfolio of suitable climate protection initiatives.
- Financing of the identified climate protection measures.
- Transparent communication about the four steps, with an apparent separation of financed measures and decarbonisation within the company's value chain.
myclimate appreciates that the letter explicitly mentions that there is no "one right way" to implement the individual steps. The companies and their implementation partners can define these individual steps, which can undoubtedly differ in nuances as long as transparency and integrity are at the forefront.
myclimate will continue to work to ensure that companies worldwide take effective climate protection measures. We will support companies with our expertise and holistic offering of education, consulting, and financing climate protection projects to make these valuable and eminently essential contributions to climate protection.
Climate protection in companies
