ESG & Investing
SBTi CEO to Resign After Backlash Over Carbon Offsets Rules
- Luiz Amaral has faced backlash over SBTi’s offsets stance
- Climate group is foremost arbiter of corporate net zero goals
Gabon is one country that has sought to raise funds for environmental protection through selling offsets.
Photographer: Guillem Sartorio/BloombergLuiz Amaral, the chief executive officer of the Science Based Targets initiative who came under fire for a controversial decision to loosen guidelines around carbon offsets, will step down at the end of July.
Amaral is departing the world’s main verifier of corporate emissions for personal reasons, the group said in a statement on Tuesday. Chief legal officer Susan Jenny Ehr will take the top job on an interim basis with support from the board.