Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a collaboration between the CDP (was Carbon Disclosure Project), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).[1] Since 2015 more than 1,000 companies have joined the initiative to set a science-based climate target.[2]

Science Based Targets initiative (SBTi)
Established2015
Websitesciencebasedtargets.org

Organization

The Science Based Targets initiative was established in 2015 [3] to help companies to set emission reduction targets in line with climate science[4] and Paris Agreement goals.[5] It is funded by IKEA Foundation, Amazon, Bezos Earth Fund, We Mean Business coalition, Rockefeller Brothers Fund and UPS Foundation.[6] In October 2021 SBTi developed and launched the world's first net zero standard, providing the framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.[7][8] Best practice as identified by SBTi is for companies to adopt transition plans covering scope 1, 2 and 3 emissions, set out short-term milestones, ensure effective board-level governance and link executive compensation to the company's adopted milestones.[3]

Sector-specific guidance

SBTi developed separate sector-specific methodologies, frameworks and requirements for different industries. As of December 2021, guidance is available for:

See also

References
  1. Science Based Targets, Partner organizations, accessed 2 December 2021
  2. "30+ target-setting firms reduce emissions by a quarter in five years".
  3. Real Sustainability, Science Based Targets for Financial Institutions, accessed 2 December 2021
  4. "Set Science-Based Emission Reduction Targets".
  5. "LEAD THE WAY TO A LOW-CARBON FUTURE".
  6. "FUNDERS".
  7. "SBTi Launches World-First Net-Zero Corporate Standard".
  8. "For corporate net zero targets, focus on the big picture".
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