The Science Based Targets (SBTi) initiative is a platform that promotes ambitious climate actions in the private sector, enabling organisations to set emission reduction targets based on the latest scientific findings.
Interesting notes on Science Based Targets
- The Science Based Targets initiative addresses the private sector as a key player in the transition to a new low-impact economy. As indicated by the initiative’s name (‘science-based targets’), SBTi promotes actions rooted in scientific results;
- The Science Based Targets initiative was born out of a partnership between a number of frontline climate organisations: CDP, the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF);
- The Science Based Targets initiative also launched the first Net-Zero Corporate Standard to ensure that companies’ net-zero targets are translated into consistent actions by 2050.
SBTi addresses the private sector, while recognising the importance of synergy with the public sector, to incentivise climate action through science-based targets and climate models that indicate the amount of emission reductions needed to keep the rise in global temperatures below dangerous levels. These targets can cover the entire business life cycle, from production to the supply chain and the products themselves. SBTi’s support would allow organisations to balance emissions reduction with business needs and competitiveness. Indeed, adopting ambitious targets can lead to reputational benefits and contribute to sustainable leadership.
SBTi provides companies with the guidelines and tools they need to set their own targets and monitor their progress: it defines and promotes best practices in emission reduction and net zero targets, in line with climate science; it provides technical assistance and resources to companies; and it brings together a team of experts to provide companies with independent assessment and validation of targets. By the end of 2022, more than 4,000 companies were setting targets or committing to them through the SBTi.
Targets set through the SBTi not only help reduce emissions, but also promote innovation, energy efficiency and the adoption of low-carbon technologies.