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CEO Amaral Departs SBTi

Luiz Amaral has stepped down as CEO of the Science Based Targets initiative (SBTi), citing “personal reasons” as the cause. The initiative’s Chief Legal Officer Susan Jenny Ehr will act as interim CEO, with the recruitment process for a permanent replacement already underway. In recent months, SBTi has faced both internal and external scrutiny over its decision earlier this year to extend the use of carbon credits to tackle companies’ Scope 3 emissions in its Corporate Net-Zero Standard – prompting calls from SBTi staff members for Amaral to be sacked. Greenpeace International said the proposal undermined SBTi’s credibility, while non-profit Carbon Market Watch said the initiative appeared to have “buckled to pressure” from corporate interests. Last year, SBTi was also criticised for having an unattainable net zero definition for SMEs. This week, SBTi has published its 2023 Monitoring Report, which saw Asia-based companies drive a 102% increase in the number of firms with science-based targets. According to the report, Japan has become the world leader for companies with science-based targets, while India saw a 520% in-year growth of companies setting targets.

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