Joint Position on Beyond Value Chain Mitigation: Incentivising Corporate Action at Landscape and Jurisdictional Scale
The Beyond Value Chain Mitigation (BVCM) public consultation document is a welcomed step forward on the efforts that the Science Based Targets initiative (SBTi) is taking to raise the bar for companies to increase their ambition, given the escalating climate and nature crises. This joint position contains a summary of some of the feedback that Conservation International, the Earth Innovation Institute, the Earthworm Foundation, Emergent, IDH, ISEAL, LandScale, Proforest and the Tropical Forest Alliance provided to the SBTi as part of its public consultation process. It aims to serve as a reference and discussion point for stakeholders interested in building incentives for companies to take BVCM actions.
Key points in this joint position include:
- BVCM is a necessity to bring down emissions from agriculture, forest, and other land use (AFOLU). BVCM should incentivise and accelerate corporate action and finance for climate change mitigation at scale in the places where it is needed the most.
- As such, the SBTi should require, reward, or incentivise companies to take BVCM action.
- Forest, land and agriculture (FLAG) companies should take BVCM action in or near the production areas they are producing in or sourcing from and in a magnitude that is proportional to their sourcing footprint.
- The SBTi needs to provide clear guidance and incentives for companies to prioritise near-term reductions and solutions over long-term removals and unproven solutions.