STOCKHOLM – Swedish fashion retailer H&M has written to the Science Based Targets initiative (SBTi) expressing concern over the standard body’s plans to allow use of carbon offsets to mitigate scope 3 emissions.
H&M told the SBTi’s board of trustees, “companies must address their own value chains directly rather than relying on offsetting emissions elsewhere.” It also said allowing offsets within scope 3 could undermine investments and innovation aimed at reducing actual value chain emissions.
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