The Science Based Targets initiative (SBTi) is a collaborative partnership between some of the world's leading environmental organisations: CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).
The Primary Mission?
To drive robust climate action within the private sector by assisting organisations in setting science-based emissions reduction targets.
These targets are not arbitrary; they are rooted in scientific research and provide a clear blueprint for companies and financial institutions, indicating how and at what pace they should slash their greenhouse gas emissions.
This is crucial to stave off the more severe consequences of climate change.
Why it Matters
Climate scientists have sounded the alarm bells, emphasising the urgency to cap global warming at 1.5°C above pre-industrial levels.
Currently, our planet is on a trajectory to overshoot this. A significant contributor to global greenhouse gas emissions comes from businesses, both directly and indirectly, putting them at the forefront of addressing this issue.
What's in it For You
Apart from the broader environmental and societal advantages, businesses that embrace science-based targets can reap several rewards.
This includes spurring innovation, enhancing their competitive edge, bolstering their reputation among consumers and investors, and proactively adapting to future climate legislation.
Companies that adhere to these targets also champion renewable energy and lay the groundwork for future sustainable solutions.
The SBTi’s Corporate Net-Zero Standard
A standout feature of the SBTi is its Corporate Net-Zero Standard.
It stands unique as the sole framework globally for corporate net-zero target setting that aligns seamlessly with prevailing climate science.
This standard equips business leaders with a consistent and science-based understanding of 'net-zero'.
It ensures that their decarbonisation targets, both short and long term, are in harmony with a future that limits global warming to 1.5°C.