The uncertainty of the theoretical prediction of the branching ratio at NLL level is dominated by the charm mass renormalization scheme ambiguity. In this paper we calculate those NNLL terms which are related to the renormalization of , in order to get an estimate of the corresponding uncertainty at the NNLL level. We find that these terms significantly reduce (by typically a factor of two) the error on ${BR}(\bar B \to X_s \gamma)m_c$. Taking into account the experimental accuracy of around 10% and the future prospects of the factories, we conclude that a NNLL calculation would increase the sensitivity of the observable to possible new degrees of freedom beyond the SM significantly.

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