Hopefully you are able to help me.
I have a simple question regarding to financial institutions net-zero draft. The net-zero draft clearly implicates that it would like to encourage FI`s to finance climate solutions and avoid buying carbon credits. I just like to confirm that when FI is financing carbon removal solution, what should we do to the carbon credits that the carbon removal investments sells.
For example if we have invested a solution that removes 20 000 tons of CO2 annually and sells 10 000 of these as a credits to third party. Are we still able to use this removal to neutralize our unabated scope 3, category 15 emissions?
So in case if our unabated emissions are 20 000 tCO2 and our financed removals are 20 000 tCO2, are we able to claim net-zero even thou 10 000 tCO2 of these financed removals are also sold to third party as a credits?
Referring to this part of the draft:
So we are not sure what is meant by this “exclusive of carbon credits”. Does it mean that we should deduct these credits from the total removal or exclude those out of our calculations?