Is a watchdog for corporate climate commitments caving to industry? [Verge, The]
Amazon.com, Inc. (AMZN)
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Source: Verge, The
Its own staff says it's broken the rules. Share this story The charity that serves as a major watchdog on corporate climate commitments faces allegations that it's caving to industry pressure to relax standards. The Science Based Targets initiative (SBTi) assesses companies' sustainability pledges and develops standards for how companies can set goals to fight climate change that are backed by science. SBTi's policies are supposed to prevent greenwashing, which is when companies make misleading statements about their environmental impact. One way SBTi has tried to crack down on greenwashing is by limiting the use of carbon offsets. Offsets are supposed to cancel out some of a company's carbon footprint, even though that's often only reflected on paper and not in the real world. SBTi's tough stance on carbon offsets has provoked the ire of industry bigwigs and some policymakers, who rely on offsets and say that SBTi's standards are too tough to meet. The quarrel came to a hea
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Earnings
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AMZN
Sec Filings
- 4/25/24 - Form PX14A6G
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