Statement: VCMI’s Scope 3 Flexibility Claim

Companies are not reducing emissions fast enough, with the lack of progress around scope 3 posing the biggest challenge of all. Listed companies alone account for 40% of global emissions. Inaction puts us all at risk.

Companies need tools to achieve ambitious climate targets. That is why, after an extensive stakeholder feedback process, VCMI released its beta Scope 3 Flexibility Claim. It enables urgent action now by requiring companies to purchase and retire high-quality carbon credits, while transitioning to net zero. Use of credits is in addition to – and will not count towards – a company’s emissions reductions targets.

A full launch of the Flexibility Claim will occur later in the year and we call on market participants to work with us as we finalise the Claim.

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