Renewable energy certificates allow companies to overstate their emission reductions

Author:

Bjørn AndersORCID,Lloyd Shannon M.ORCID,Brander MatthewORCID,Matthews H. DamonORCID

Funder

Concordia University Horizon Fellows Program

Gouvernement du Canada | Natural Sciences and Engineering Research Council of Canada

Publisher

Springer Science and Business Media LLC

Subject

Social Sciences (miscellaneous),Environmental Science (miscellaneous)

Reference5 articles.

1. Kuramochi, T. et al. Beyond national climate action: the impact of region, city, and business commitments on global greenhouse gas emissions. Clim. Policy 20, 275–291 (2020). Estimates the potential effect of the climate commitments of non-state actors on global emissions in 2030.

2. Bjørn, A., Tilsted, J. P., Addas, A. & Lloyd, S. M. Can science-based targets make the private sector Paris-aligned? A review of the emerging evidence. Curr. Clim. Change Rep. https://doi.org/10.1007/s40641-022-00182-w (2022). Reviews the literature on science-based targets with a focus on potentials for aligning the private sector with the Paris goal.

3. GHG Protocol Scope 2 Guidance: An Amendment to the GHG Protocol Corporate Standard (World Resources Institute, 2015); https://go.nature.com/39KY4J7Presents the most widely used emission accounting standard and discusses the potential impacts of renewable energy certificates on grid decarbonization.

4. Brander, M., Gillenwater, M. & Ascui, F. Creative accounting: a critical perspective on the market-based method for reporting purchased electricity (scope 2) emissions. Energy Policy 112, 29–33 (2018). Presents a critique of the above emission accounting standard focusing on the role of renewable energy certificates.

5. Corporate Climate Responsibility Monitor 2022: Assessing the Transparency and Integrity of Companies’ Emission Reduction and Net-Zero Targets (NewClimate Institute, 2022); https://go.nature.com/3MHZRNKPresents an in-depth critical review of the climate change disclosures of 25 major companies, including corporate strategies for renewable energy sourcing.

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