Climate Group in Tumult Over New Guidelines for Carbon Market

The board and chief executive officer of the Science Based Targets initiative were asked to resign after the United Nations-backed group loosened guidelines for how companies can use carbon credits to reduce their reported emissions.

In a letter sent Wednesday, SBTi employees said the board of trustees who made the statement failed to adhere to the nonprofit’s governance structures and the CEO failed to adequately inform the staff about the board’s decision.