Gold Standard Unveils Comprehensive Guide for Effective Beyond Value Chain Mitigation

Standard setting organisation Gold Standard, in partnership with Milkywire and Murmur, has released a step-by-step guide to implementing Beyond Value Chain Mitigation. This initiative aligns with the recent insights shared by the Science Based Target’s Initiative (SBTi) in their reports released on 28 February, aimed at accelerating the adoption of the approach.

Beyond Value Chain Mitigation is a way for companies to take responsibility for their unabated greenhouse gas emissions while reducing their climate impact in line with science.

By taking this approach companies can stay ahead of regulation such as the EU’s proposed law on green claims, get the credit they deserve for their actions, and ensure their climate related claims can withstand scrutiny.

The approach could deliver a boost to climate funding. An additional US$23bn would be raised for climate initiatives if the top 250 companies in the world followed the approach to setting a carbon fee outlined in the report, while keeping their expenses under 1% of profits and below US$200 per tonne.

The new guidance builds on SBTI’s recent reports supporting the adoption of Beyond Value Chain Mitigation to detail a clear, step-by-step approach, supplemented by summaries of to-do lists, key choices and expected outputs at each stage.

To further support companies to deliver a high quality Beyond Value Chain Mitigation action plan, Gold Standard is inviting expressions of interest in joining an Exploratory Group on Beyond Value Chain Mitigation.

The group will build understanding of key elements of the guidance, create an environment for peer-to-peer learning, and provide feedback based on practical experience. Companies exploring the application of a Beyond Value Chain Mitigation strategy as well as representatives from civil society, advisory and consultancy can find out more here.

Commenting on the publication Margaret Kim, Gold Standard CEO, said: “This step-by-step guide demystifies the process for businesses striving to develop a Beyond Value Chain Mitigation Strategy. It provides clear instructions for each of the four steps required: emissions accounting; setting an internal carbon fee; investing in impactful initiatives; and making credible claims about your actions.”