SBTi CEO Stepping Down; Interim CEO Named

Science Based Targets initiative (SBTi) CEO Luiz Amaral will step down for personal reasons at the end of July 2024, and Chief Legal Officer Susan Jenny Ehr will step in as interim CEO, the climate-focused organization announced.

SBTi said a recruitment process for a permanent CEO is under way.

The CEO change surfaces roughly three months after SBTi's board essentially said it would allow companies to leverage carbon credits to offset Scope 3 (supply chain) emissions. Some employees and SBTi advisors said they were shocked by the announcement, and called for the organization to abandon the carbon offset recognition plan, Reuters reported.

Fast forward to July 2024. Amaral said his resignation involves personal reasons. He did not mention the carbon credit debate in a prepared statement about departing SBTi. He noted that more than 5,500 companies now have SBTi-validated carbon emissions targets. Also, another 3,200 companies are formally committed to the process, he said.

In a prepared statement, SBTi Chair Francesco Starace thanked Amaral for his "steadfast leadership, and for his dedication and passion in pursuing the aims of SBTi." Starace also welcomed Ehr to the interim CEO post.

SBTi formed in 2014 to help companies set voluntary targets that align their absolute greenhouse gas emissions reductions with the Paris Agreement, GreenBiz notes.