A recent study conducted by the rating agency Sylvera reveals that companies integrating carbon credits into their climate strategies achieve a higher level of decarbonization compared to those that do not. This contradicts the prevailing concern that carbon credits are often used for greenwashing.
The study analyzed data from 100 companies across diverse sectors spanning the years 2013-2021, with half of the companies incorporating carbon credits and the other half not. The average annual emissions reduction in Scope 1 and 2 for all companies was approximately 5%. Companies utilizing carbon credits demonstrated a robust performance, achieving an average reduction of 6.2% per year. In contrast, companies abstaining from carbon credit purchases exhibited a lower annual reduction of 3.4%.
It’s crucial to highlight that companies utilizing carbon credits do not apply them for Scope 1 and 2 emission reductions but use them as additional contributions to the broader fight against climate change. Among the companies with the highest decarbonization rates, combined with the purchase of (nature-based) carbon credits, are notable names such as Bank of America, Visa, Telefonica, and Audi (Volkswagen Group).