SBTi sets company goals aligning with global measures to mitigate climate change.
Find a consultantA framework that helps companies set greenhouse gas emissions reduction targets in line with climate science.
The Science-Based Targets initiative (SBTi) is a collaborative effort that involves multiple organizations and stakeholders aiming to encourage businesses and financial institutions to set ambitious climate targets that are aligned with the latest climate science. It provides guidance, resources, and a framework for companies to develop science-based targets to reduce greenhouse gas emissions. The initiative is for:
Overall, SBTi aims to mobilize the private sector to take significant action against climate change through the adoption of science-based targets.
The Science-Based Targets initiative (SBTi) was launched in 2015. It aims to motivate companies to set greenhouse gas emission reduction targets that are science-based, meaning they align with the level of decarbonization necessary to keep global temperature increase within 1.5 to 2 degrees Celsius compared to pre-industrial levels.
The SBTi has undergone various updates and revisions since its inception to improve its methodologies and frameworks. Notable updates include:
For the most accurate and current updates on the initiative, it's best to consult the official SBTi website or their announcements, as they regularly revise their guidelines and methodologies based on scientific findings and stakeholder input.
The Science-Based Targets initiative (SBTi) is crucial for multiple key reasons:
In conclusion, SBTi plays a pivotal role in guiding businesses towards impactful actions that can significantly contribute to global climate change mitigation.
To comply with the Science-Based Targets initiative (SBTi), organisations must commit to setting and achieving climate goals aligned with the latest climate science. The key steps include:
Organisations must publicly commit to setting science-based targets that align with the goal of limiting global temperature rise to well below 2�C, with efforts to limit it to 1.5�C, as outlined in the Paris Agreement.
Companies must develop specific, measurable, and time-bound emissions reduction targets across their operations and value chains. These targets should be aligned with SBTi�s criteria and based on credible scientific methodologies.
Once targets are developed, organisations must submit them to SBTi for validation. SBTi reviews the targets to ensure they are in line with the required climate benchmarks and provides feedback if adjustments are needed.
Organisations must actively work toward achieving the validated targets by implementing emissions reduction strategies and monitoring progress. This includes tracking greenhouse gas emissions and reporting performance to stakeholders.
To maintain compliance, organisations are expected to regularly review and update their targets as new data and climate science emerge, ensuring ongoing alignment with the latest scientific insights.
The Science-Based Targets initiative (SBTi) offers several benefits for organizations aiming to reduce their greenhouse gas emissions and combat climate change. Here are some of the key benefits:
By participating in the SBTi, organizations can not only contribute to global climate efforts but also realize operational and strategic benefits that enhance their overall business resilience and sustainability.
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