GLOBAL STAKEHOLDERS’
BEST PRACTICES POLICIES AND STANDARDS.

Science Based Targets Initiative (SBTi).

What is SBIi and why is it important?

The SBTi is also working to define a science-based standard for net-zero target setting, to ensure that companies’ net-zero targets translate into action that is consistent with achieving a net-zero world by no later than 2050. We know that governments and business must act together. In 2018, the Intergovernmental Panel on Climate Change (IPCC) warned that global warming must not exceed 1.5 degrees C above pre-industrial temperatures to avoid the most catastrophic impacts of climate change. Business has a vital role to play in driving down greenhouse gas (GHG) emissions and building a resilient, zero-emissions economy grounded in science.

Science-based targets show companies how much and how quickly businesses need to reduce their GHG emissions to prevent the worst impacts of climate change, leading them on a clear path towards decarbonization. By guiding companies in science-based target setting, SBTi enables them to tackle climate change while seizing the benefits and boosting their competitiveness in the transition to a net-zero economy.

What is SBIi and why is it important?

  • Defines and promotes best practices in emissions reductions and net-zero targets in line with climate science.
  • Provides target setting methods and guidance to companies to set science-based targets in line with the latest climate science.
  • Includes a team of experts to provide companies with independent assessment and validation of targets.
  • Serves as the lead partner of the Business Ambition for 1.5°C campaign, an urgent call to action from a global coalition of UN agencies, business and industry leaders that mobilizes companies to set net-zero science-based targets in line with a 1.5 degrees C future.

Over 1,200 companies worldwide are leading the transition to a net-zero economy by setting emissions reduction targets grounded in climate science through the SBTi. As of February 2020, over 590 companies have had science-based targets approved with the SBTi. As of 2019, companies who signed up to the SBTi had operational emissions totaling over 750 million tons of carbon dioxide — more than the annual emissions of France and Spain put together. Their combined market capitalization was over $10.8 trillion. Given the scale of their emissions and capital, emissions reduction and climate action in these companies can lead to significant changes in global emissions.

SBTi is working to define a science-based standard for net-zero target setting, to ensure that companies’ targets translate into action that is consistent with achieving a net-zero world by no later than 2050.

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Publications from the Science Based Targets initiative

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  • SBTi Progress Report 2020 | From Ambition to Impact: How Companies are Reducing Emissions at Scale with Science-Based Targets
  • Foundations of Science-based Target Setting
  • Foundations for Net-Zero Target Setting in the Corporate Sector
  • Value Change in the Value Chain: Best practices in scope 3 greenhouse gas management
  • Financial Sector Science-Based Targets Guidance (pilot version)
  • Sector Assessment: Barriers, Challenges, and Opportunities for Chemical Companies to Set Science-Based Targets.
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