A truck is loaded with sugarcane in Sertaozinho Companies must focus on their value chains and there is a role for proven market mechanisms Kirsten Schuijt is Director General of WWF International Corporate leaders understand that cutting emissions will reduce risk to their companies But with a patchwork of mostly  insufficient national and regional regulation what counts as credible and ambitious corporate climate action isn’t immediately clear Businesses can make the greatest contribution to solving the climate crisis by reducing emissions from their value chains Accounting for three-quarters of companies’ direct and indirect climate impacts “Scope 3” emissions come from firms’ supply chains and the use of their products and services And they are proving to be some of the most challenging for companies to address At this critical moment in humanity’s response to the climate crisis companies need a suite of flexible yet scientifically rigorous approaches to reduce these emissions Many companies are turning to voluntary organisations such as the Science Based Targets initiative (SBTi) - which WWF co-founded - to guide them towards ambitious climate action However, SBTi’s recent announcement proposing the expanded use of market mechanisms to reduce Scope 3 emissions caused confusion and raised questions about its scientific foundation It has also spurred an important discussion about how companies can credibly meet their Scope 3 targets This debate has been characterised by two camps: one focused on using market mechanisms to unlock much-needed capital for climate and nature particularly in developing countries - and the other focused on incentivising industry transformation to cut value chain emissions Focusing on reducing value chain emissions is the most effective way to decarbonise the global economy. There are plenty of incentives for companies to take these steps since they mitigate risk and build long-term certainty of supply and demand Companies with global value chains are already channelling significant capital to developing countries to address energy, industry, agriculture and forestry related emissions. SBTi’s new standard on accounting for land-related emissions also creates incentives for more companies to invest in sustainable agriculture and nature Expanding the targeted use of some market mechanisms can provide companies struggling to meet their Scope 3 targets with new options and incentives By investing in transforming the markets where they have value chains companies can deliver credible and durable emissions reductions through vehicles such as renewable energy credits to contribute to the energy transition Sustainable sourcing instruments like green steel certificates can help forge a sustainable steel sector It's these kinds of innovative approaches that can unlock the true potential of corporate climate action The debate on Scope 3 targets doesn’t boil down to “for or against” carbon credits, as some would have you believe. Most companies are just looking for simpler processes and frameworks that enable them to focus on the highest impact emissions categories and invest in solutions - something SBTi and the Greenhouse Gas Protocol (GHGP) should help support While in-value-chain decarbonisation is central to effective climate action there is a role for corporate investments beyond their value chains - to protect vital natural carbon sinks and support a just energy transition in developing countries Companies should consider a range of innovative public and private finance options to make these investments It would also be helpful to grow a more credible voluntary carbon market that can provide a valuable pathway for companies to make additional investments Achieving this credibility will require high integrity accounting: projects that simultaneously benefit climate nature and local communities; and a fair carbon price that reflects the full costs of a high-quality intervention we see the urgent need to channel more funding into developing countries for nature conservation and restoration We know the immense contribution of nature to climate mitigation and adaptation But corporate funding should not be used for offsetting necessary emission reductions or come at the expense of in-value-chain investments to aggressively reduce emissions that have been major drivers of the climate and nature crisis The WWF global network is united in the view that credible corporate climate action at scale is essential to ensure a living planet for future generations Government regulation and finance remains fundamental and important but as both continue to fall short voluntary corporate action must continue to be guided by science and grounded in good governance As SBTi fills this gap and works with partners to revise its Scope 3 requirements it is crucial to identify solutions that are feasible and able to make a meaningful impact on the path to net zero Any views expressed in this opinion piece are those of the author and not of Context or the Thomson Reuters Foundation By providing your email, you agree to our Privacy Policy What does a Donald Trump presidency mean for LGBTQ+ rights? Indigenous forest peoples can finally control nature finance Inside Trump's $6mn deportee deal with El Salvador mega-prison Half London councils found using Chinese surveillance tech Portable internet helps Asia's scam centres bypass blackouts How is Bangladesh preparing farmers for increasingly salty soil? Context is a media platform created by the Thomson Reuters Foundation. We provide news and analysis that contextualises how critical issues and events affect ordinary people, society and the environment. Find out more. The Workforce Disclosure Initiative is an investor-backed project to improve the quantity & quality of corporate workforce data via an annual survey & engagement process Trust Conference is the Thomson Reuters Foundation’s flagship annual event taking place in the heart of London each year TrustLaw is the Thomson Reuters Foundation’s global pro bono service facilitating free legal assistance to NGOs and social enterprises around the world Connecting decision makers to a dynamic network of information Bloomberg quickly and accurately delivers business and financial information A worker walks past trucks filled with sugarcane at a mill in Sertaozinho 2019 at 10:56 AM EDTBookmarkSaveLock This article is for subscribers only.As Brazilian millers turn to ethanol sugar production in the nation’s main growing region is now forecast to fall to a 14-year low That’s according to influential industry group Unica which expects sugar output in the center south to fall by 5.7% year-on-year to 25 million metric tons according to people familiar with the matter who asked not to be identified because the information is private The group plans to present the new forecast to a government committee that monitors ethanol supplies Please press and hold the button until it turns completely green If you believe this is an error, please contact our support team. 147.45.197.102 : 87d7b80d-4307-44f7-8402-964522e3 the world's largest sugarcane processor said that industrial operations at a plant in Sertaozinho had been halted since Thursday due to fires in sugarcane fields around the plant.The Sao Paulo state government has created an emergency committee to handle the fires which had also blocked some 15 highways either fully or partially.Brazil's wildfire season typically peaks in August and September.This year wildfires started unusually early in Pantanal while the number of fires in the Amazon rainforest surged to a two-decade high for the month of July government data showed early this month.Reporting by Fabricio de Castro in Sao Paulo; Writing by Andre Romani; Editing by Sandra Maler Our Standards: The Thomson Reuters Trust Principles., opens new tab , opens new tab Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. , opens new tabScreen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. © 2025 Reuters. All rights reserved O endereço abaixo não existe na globo.com Biosev SA’s Santa Elisa mill in Sertaozinho 2018 at 10:04 AM EDTBookmarkSaveLock This article is for subscribers only.Margarita Louis-Dreyfus the billionaire owner of the eponymous commodities trader has agreed to bail out her struggling Brazilian sugar business with a $1.05 billion capital injection ramping-up financial pressures on the Russian-born heiress suspended dividends in 2017 for the first time in 13 years Adebayor: Arsenal striker Emmanuel Adebayor could be rested for today's league game at Bolton after leading the line all season Adebayor has shouldered the scoring burden after injuries to Robin van Persie and Eduardo da Silva "I believe he has given a lot this year and that he would need a little breather Podolski: Germany striker Lukas Podolski will consider his future at Bayern Munich once the season is over after getting fed up with his role as a substitute "I've had it up to here with being on the bench," Podolski said "I'll think about my future at the end of the season We have to see whether it makes sense for either side." Cahill out: Everton striker Tim Cahill is out for the rest of the season with a broken foot who missed Australia's 0-0 draw away to China in an Asian 2010 World Cup qualifier on Wednesday was injured during last weekend's league match at home to West Ham Adriano: Adriano scored one goal and set up another to help Sao Paulo beat Sertaozinho 3-1 in the Paulista championship on Thursday The win lifted Sao Paulo to third in the championship with 32 points from 17 games The top four teams qualify for the semi-finals Van Gaal: AZ Alkmaar coach Louis van Gaal will step down at the end of this season who also had spells in charge of Ajax and Barcelona Betis stadium: Real Betis will be allowed to play Barcelona at their own ground today despite being given a two-match stadium ban after a visiting player was hit in the face by a bottle thrown from the crowd Betis had been ordered to play the match at Atletico Madrid's Vicente Calderon stadium by the Spanish FA but Spain's Sporting Discipline Committee agreed to an appeal from the club asking for a delay to the sanction In England: League One - Doncaster vs Nottm Forest 1-0; Tranmere Rovers vs Swindon Town 2-1 Three: Zejtun vs Xghajra 1-1; Pembroke vs Kirkop 4-0 Basketball: Louis Borg Cup final (men) first leg - Mellieha SVS vs BUPA Luxol 53-103 please register for free or log in to your account SaveLog in, register or subscribe to save recipes for later.You have reached your maximum number of saved items Remove items from your saved list to add more Add articles to your saved list and come back to them anytime IT'S a case of keeping it all in the family with Gerrick Numan's latest venture His first Armadale cafe was named after his grandfather and Prahran's Hobba pays homage to his dad An old tyre garage was given an early retirement and a trendy cafe with bare brick walls exposed beams and raw timber with third-wave coffee and edgy food was born Numan and partners - chef Josh Powell (formerly of Vue de Monde Circa and The Fat Duck in Britain) and Simon McNamara (the brains behind Grill'd and Wicked with Chocolate) - wanted to find a beautiful space close to their homes ''We were looking for somewhere that didn't have a cool place to hang out,'' Numan says ''We wanted to create a local hangout again but step it up a little from Willim.'' Hobba has been busy since it opened in July There are some serious coffee options and Powell has created an interesting menu sourcing quality Victorian produce such as Green eggs Numan's interest in coffee means there is a strong focus on the bean at Hobba Coffee is sourced from Five Senses roasters and there is a choice of two espresso coffees and a yirgacheffe single-origin from Ethiopia Coffee geeks can choose from four filter coffees that include Panama geisha Barista Alan Huang takes charge of the $25,000 Synesso Hydra and there's an Uber Boiler for filter coffees which are made using a Clever Coffee Dripper The ever-popular latte comes silky-smooth with bright caramel tones Having recently undertaken a coffee roasting course with American consultant Tracy Allen Numan is keen to start his own roastery in one of the boxed spaces in the new year ''It takes a long time to do coffee roasting well; it's similar to being a chef,'' he says The most popular dishes on Powell's menu include the Warialda Belted Galloway beef burger and chickpea fritters with hummus plus there are gluten-free options such as braised lamb neck The front doors open up (a better idea in summer than winter) wooden booths are the most comfortable seating and communal tables are in demand as are the children's blackboard and chairs Found a hot new coffee spot? 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