diff --git a/text/0003-execution-environment.md b/text/0003-execution-environment.md
new file mode 100644
index 0000000..339f751
--- /dev/null
+++ b/text/0003-execution-environment.md
@@ -0,0 +1,104 @@
+# Execution Environments
+
+## Summary
+
+This RFC introduces settings for controlling what execution environment (Node.js, Bun, Deno) will be used for a package during:
+
+* runnings its lifecycle scripts
+* building
+* running it as a CLI app
+
+## Motivation
+
+Running multiple versions of Node.js on the same computer isn't easy. Also, there is currently no way for a package to tell the package manager that it needs to be executed with a specific version of Node.js. Node.js versions should be locked the same way as other dependencies of projects are locked for reproducibility.
+
+## Detailed Explanation
+
+We will support a new field in `package.json`: `pnpm.executionEnv.jsRuntime`. This field will be similar to the `packageManager` field introduced by Corepack but will feature `<js runtime>@<version>` instead. For example:
+
+```json
+{
+  "pnpm": {
+    "executionEnv": {
+      "jsRuntime": "node@20.16.0"
+    }
+  }
+}
+```
+
+or
+
+```json
+{
+  "pnpm": {
+    "executionEnv": {
+      "jsRuntime": "bun@1.1.26"
+    }
+  }
+}
+```
+
+or
+
+```json
+{
+  "pnpm": {
+    "executionEnv": {
+      "jsRuntime": "deno@1.46.1"
+    }
+  }
+}
+```
+
+When pnpm sees this setting, it will load the specified runtime and use it for:
+
+* running scripts locally (via the `pnpm run` and `pnpm exec` command)
+* running build scripts, when installed as a dependency. If the package has a postinstall script, it will be executed by the specified runtime.
+* running the package, when it is executed as a CLI.
+
+If we don't want to control the execution env of the published package, set the optional `localOnly` setting to `true`. For instance:
+
+```json
+{
+  "name": "cowsay",
+  "version": "1.0.0",
+  "bin": "bin.js",
+  "pnpm": {
+    "executionEnv": {
+      "jsRuntime": "node@20.16.0",
+      "localOnly": true
+    }
+  }
+}
+```
+
+In this case, pnpm will remove the `executionEnv` setting from the `package.json` file on publish and the binary of the package will be executed with whatever runtime will be installed globally on the target machine.
+
+Some environments might not want to allow pnpm to control the js runtime. For thes cases we need to support a setting that will instruct pnpm to ignore all the execution env settings: `ignore-execution-env=true`.
+
+## Rationale and Alternatives
+
+The alternative would be to use a third party tool for this (like Volta) but then we would have one more prerequisite for using pnpm.
+
+Instead of introducing a new field, we could use the `engines` field for detecting what Node.js version should be used for running the bin file or building the package. However, the `engines` field is already used by other package managers and it is usually just sets a range with the lowest supported Node.js version. If we will use it for specifying exact versions, installations of the package with other package managers will fail, when `engine-strict` is set to `true`.
+
+## Implementation
+
+The implementation can leverage the logic that is already present in pnpm for the `pnpm env` command, the `pnpm.executionEnv.nodeVersion` setting, the `use-node-version` setting.
+
+Binding CLI apps to specific Node.js versions can be done via command shims. This currently works for globally installed packages. pnpm links globally installed packages to the active Node.js version.
+
+## Prior Art
+
+We already have some functionality for managing Node.js versions:
+
+* the [pnpm env](https://pnpm.io/cli/env) command
+* the [use-node-version](https://pnpm.io/npmrc#use-node-version) setting
+* the [pnpm.executionEnv.nodeVersion](https://pnpm.io/package_json#pnpmexecutionenvnodeversion) setting.
+
+## Unresolved Questions and Bikeshedding
+
+{{Write about any arbitrary decisions that need to be made (syntax, colors, formatting, minor UX decisions), and any questions for the proposal that have not been answered.}}
+
+{{THIS SECTION SHOULD BE REMOVED BEFORE RATIFICATION}}
+