In 2014, the Science Based Targets initiative (SBTi) was founded to assist companies in setting voluntary targets that align with the Paris Agreement in terms of greenhouse gas emissions reductions. By the end of 2023, over 4,205 companies had targets validated by SBTi, including 449 striving to meet the corporate net-zero standard. Despite this success, the future of SBTi came into question in April when the organization announced that it would consider allowing companies to utilize carbon credits to offset emissions. This sparked controversy and led to calls for Amaral’s resignation from certain SBTi staff and advisors.
Luiz Amaral, who took on the role of CEO in February 2022 after previously being head of sustainability for South America at Rabobank and playing a key role in transitioning SBTi into a standalone organization, has announced his resignation after a little over two years in the position. He cited unspecified personal reasons for his decision, which will be effective on July 31. Jenny Ehr, SBTi’s chief legal officer, will serve as interim CEO while a search for a permanent replacement is conducted.
Despite controversy surrounding SBTi’s new framework, Amaral expressed confidence in his team and their mission to support companies in their efforts to meet their environmental commitments. Some companies have chosen not to adhere to SBTi’s framework while others have not had their targets validated due to various reasons such as not meeting criteria or lack of transparency. However, many other major corporations like Microsoft and Walmart have committed themselves fully to SBTi’s goals and are working towards achieving them.
Francesco Starace, chairperson of SBTi reaffirmed the organization’s mission and promised a seamless transition following Amaral’s resignation. He expressed confidence in the dedication of SBTi’s colleagues, technical council and companies around the world committed to fulfilling the goals of Paris Agreement. Together they will continue their focus on supporting companies in their efforts towards meeting their environmental commitments while also ensuring that they are aligned with global efforts towards achieving net-zero emissions by mid-century.
