Definition 1
Beyond Value Chain Mitigation Measures means actions or investments made by [a Company OR Party] to mitigate the impact of Climate Change that fall outside of [the Company OR Party]'s value chain. These include (but are not limited to) actions or investments by [the Company OR Party] that:
(a) reduce or avoid Greenhouse Gas Emissions; or
(b) enhance the sinks of Greenhouse Gases; or
(c) remove and store Greenhouse Gases from the atmosphere.
Beyond Value Chain Mitigation Measures cannot be used to make [Offsetting] or neutralisation claims.
Definition 2
Beyond Value Chain Mitigation Measures means actions or investments taken by [a Company OR Party] to mitigate the impact of Climate Change that fall outside of [the Company OR Party]'s value chain. This includes actions or investments by [the Company OR Party] that:
(a) reduce or avoid Greenhouse Gas Emissions;
(b) enhance the sinks of Greenhouse Gases; or
(c) remove and store Greenhouse Gases from the atmosphere[.]
[These actions or investments should align with the recommendations of the [Science Based Targets initiative (SBTi)'s Corporate Net-Zero Standard OR insert other current standard or standards body] (as updated from time to time)].
Beyond Value Chain Mitigation Measures cannot be used to make [Offsetting] or neutralisation claims.
Drafting notes and guidance
SBTi terminology
This definition refers to the Science Based Target initiative's Corporate Net-Zero Standard. The SBTi provides companies with guidance and recommendations on how to set science-based net zero targets.
SBTi recommends that companies take climate action outside of their value chains. This includes annual reporting on the nature and scale of their actions and investments.
Examples of beyond value chain mitigation include:
- conservation projects - peatland or mangrove;
- energy efficiency - cookstove projects;
- forestry - jurisdictional REDD+ projects;
- industrial gases - Nitrogen Oxide (N20) destruction at nitric acid facilities;
- methane destruction - landfill gas projects;
- renewable energy - solar; and
- scale-up of carbon dioxide removal technologies - direct air capture and storage.
Option 1
This option is a short form version of the definition.
Option 2
This option is a longer form definition with options that might be appropriate depending on the level of detail and ambition required by the parties.