Hi there,
In a previous query, the SBTi confirmed that biogenic emissions in power generation project finance, should be included in the target boundary and treated akin to other emissions.
Looking at the power sector guidance, it is not 100% clear to me what is being said. Are biogenic removals also allowed under the target boundary or not? The question here is, does the SBTi expect biomass CO2 emissions to be treated as if they are fossil emissions? If yes, then there is little room for biomass in power as it instantly becomes high emissions intensive. However, if CO2 biogenic emissions are treated as zero for the purpose of target setting (even if they are included alongside, in the inventory), then biomass is treated as CO2 neutral. The guidance mentions providing justification for underlying assumptions but it’s not clear what that means.
C4 – BIOENERGY ACCOUNTING: Direct emissions from the combustion of biomass and biofuels, as well as GHG removals associated with bioenergy feedstock, must be included alongside the company’s inventory and must be included in the target boundary when setting a science-based target and when reporting progress against that target. If biogenic emissions from biomass and biofuels are considered climate neutral, the company must provide justification of the underlying assumptions. (GHG removals that are not associated with bioenergy feedstock are currently not accepted to count as progress towards SBTs or to net emissions in the inventory.)
Many thanks,
Ana