Climate finance needs to increase seven times to meet our global 2030 climate objectives.
Launched by the Science-Based Targets Initiative (SBTi), Beyond Value Chain Mitigation (BVCM) encourages companies to reduce and remove emissions that are outside of your value chain, catalyze the funding of new climate solutions and support global net zero goals – all in addition to your near-term and long-term science-based abatement targets.
Climate Impact Partners is your trusted partner to deliver your BVCM strategy, providing best practice guidance and a BVCM portfolio of solutions tailored to your needs. As pressure grows for companies to address climate change, it's crucial to ensure your response meets the highest standards.
Watch our video to learn how we've helped Deloitte North and South Europe (NSE) deliver an innovative program aligned with SBTi’s BVCM framework.
What is Beyond Value Chain Mitigation?
SBTi published in February 2024 guidance on delivering Beyond Value Chain Mitigation, recommending that companies pledge to take action beyond their residual emissions each year as they decarbonize to achieve global net zero by 2050.
SBTi sets goals for making a BVCM pledge
The guidance sets out two BVCM goals for making a BVCM pledge:
- Deliver additional near-term mitigation outcomes to achieve the peaking of global emissions in the mid-2020s and the halving of global emissions by 2030.
- Drive additional finance into the scale-up of nascent climate solutions and enabling activities to unlock the systemic transformation needed to achieve net-zero by mid-century globally.
In addition, four principles are defined to guide companies to take action for high-impact and high-integrity BVCM activities and investments:
Key steps for delivering BVCM activities and investments
In line with the guidance, companies should follow the below steps to deliver BVCM activities and investments:
- Set and work to deliver a Net Zero Target by developing a full greenhouse gas emissions inventory to set, submit, validate, and disclose a science-based net-zero target. Navigate the complexity of making credible climate claims with the Climate Action Protocol, including SBTi Net Zero Standard.
- Establish a BVCM pledge by determining the business case for BVCM, defining the time period and scale of the pledge. A ‘science-based carbon price’ should be applied annually or over a 5-year pledge period to set the budget for addressing unabated scope 1,2, and 3 emissions.
- Take action to deliver BVCM by defining the quality standards and ensuring these underpin any action taken. This includes designing a portfolio of BVCM activities and investments.
- Report on BVCM activities and impacts by transparently communicating all actions taken and outcomes funded.
Make transparent and accurate BVCM claims
Once companies have made a BVCM pledge, you should fund additional climate actions outside of your own value chains and communicate your impact.
SBTi will not validate any BVCM claims given other actors are working in this space, however, they recommend that companies clearly and transparently report on their activities and progress.
The guidance refers to the VCMI’s Carbon Integrity claim as an example of a high-quality claim to communicate on your BVCM strategy.
Other BVCM mitigation activities and investments are allowed, including pioneering carbon innovation, financing nature conservation that enhances biodiversity, and supporting research, innovation, and policy-making. While these don't generate carbon credits, they contribute to global decarbonization and may lead to new carbon credit methodologies in the future. If they cannot be independently verified, the impacts should be tracked and transparently communicated.
Our range of BVCM opportunities for impact
The guidance emphasizes that BVCM activities and investments can avoid or reduce greenhouse gas emissions and remove and store greenhouse gases from the atmosphere.
With a wide range of services, Climate Impact Partners is your one-source provider and trusted partner to deliver your BVCM strategy.
- Carbon credits: We currently have 600+ projects in 56 countries across all project categories: nature-based solutions, health and livelihoods, sustainable infrastructure.
- Accelerate CDR: Projects include enhanced rock weathering, ocean alkalinity enhancement, direct air capture and bio-oil.
- Accelerate Blue Carbon: Projects include mangrove, saltmarsh restoration and seagrass restoration across Europe, Asia, North America, Latin America and Africa.
- Accelerate Nature: Projects include our flagship Save A Species program that saves tree species from extinction and enables biodiversity to flourish, available in 100+ countries.
Why work with us to develop and implement your BVCM strategy
Alongside validating your net zero target, your company will be well-positioned to make a BVCM pledge to unlock opportunities, mitigate future risks, and protect and enhance long-term value.
Why Work With Us?
- We are your trusted partner to develop and implement your BVCM strategy, providing best practice guidance and adding value as a knowledgeable and experienced partner.
- With a range of services, we are your one-source provider to deliver your BVCM plan aligned with SBTi. We offer a personalized range of BVCM projects tailored to your requirements to ensure your funding translates into impact.
- Gain advanced market insights from our team of experts who have been shaping the carbon market for 25 years.
How we've helped Deloitte deliver an innovative program as part of its BVCM portfolio
In addition to delivering the high-quality carbon credits required, we've helped Deloitte North and South Europe (NSE) support an innovative blue carbon solution, financing an early-stage project that is increasing the ocean’s capacity as a carbon sink and enhancing underwater biodiversity, as well as funding critical research to unlock large-scale financing for seagrass restoration in the UK and beyond. We established a collaboration between Deloitte NSE, Project Seagrass and the UK’s National Oceanography Centre.
Find out more about our collaboration with Deloitte
Ready to take action beyond your value chain?
Speak with our global experts about how we can help you deliver your BVCM strategy.
The Latest Insights From
Climate Impact Partners
Four Facts You Didn’t Know About CDR Technologies
Here are four facts about CDR technologies that you probably didn’t know but should, to understand the need for these innovative solutions.
Read moreReaching the halfway mark: our mangroves planting initiative marks a key milestone
Innovative blue carbon projects deliver a valuable natural climate solutions as corporate programs generate the finance to scale projects around the world.
Read moreHow to Pick Quality Projects and Partners: A Guide for Climate Leaders
Insights from our recent webinar on how to navigate the complexity of the voluntary carbon market and drive impact through your involvement.
Read more