Open letter on the use of carbon credits to meet scope 3 GHG targets

A coalition of organisations argues that allowing carbon credits to meet scope 3 targets undermines the 'mitigation hierarchy' and corporate responsibility for value chain emissions. The letter warns that such flexibility, as suggested in VCMI's 'beta' guidance, would damage the credibility of climate standards and discourage fundamental business model changes necessary for deep reductions.

• The authors argue that using carbon credits to address scope 3 emissions dismantles the 'mitigation hierarchy' by allowing companies to meet internal reduction targets with external reductions, despite scope 3 emissions being part of a company's own footprint.
• The letter specifically identifies VCMI's scope 3 flexibility 'beta' guidance as a potential 'major setback for climate action' and claims the push for such flexibility is largely supported by actors with direct financial interests.
• The authors propose that financial flows to global mitigation should be achieved through 'beyond-value-chain mitigation' (BVCM) plans and funding, which must be kept clearly separate from the achievement of internal mitigation targets.
• The document warns that allowing carbon credits to meet scope 3 targets will lead to a loss of support from civil society and non-profit organisations, thereby harming the credibility of the standards and the confidence of companies using them.

APA

Carbon Market Watch (n.d.). Open letter on the use of carbon credits to meet scope 3 GHG targets. https://carbonmarketwatch.org/wp-content/uploads/2024/04/Scope-3-open-letter-with-logos.pdf

Chicago

Carbon Market Watch. Open letter on the use of carbon credits to meet scope 3 GHG targets. n.d. https://carbonmarketwatch.org/wp-content/uploads/2024/04/Scope-3-open-letter-with-logos.pdf.

Wikipedia

{{cite press release |author=Carbon Market Watch |title=Open letter on the use of carbon credits to meet scope 3 GHG targets |url=https://carbonmarketwatch.org/wp-content/uploads/2024/04/Scope-3-open-letter-with-logos.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{carbonmarketwatchndopen, author = {{Carbon Market Watch}}, title = {{Open letter on the use of carbon credits to meet scope 3 GHG targets}}, publisher = {Carbon Market Watch}, url = {https://carbonmarketwatch.org/wp-content/uploads/2024/04/Scope-3-open-letter-with-logos.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }