Science Based Targets
What is a Science Based Target?
Science Based Targets(SBTs) are a set of decarbonization targets with well-defined guidelines that help companies reduce their greenhouse gas emissions in order to prevent the negative impact of climate change. Through theScience Based Targets Initiative ( SBTi), you can have the emission reduction targets that your company has set validated in order to obtain verification that your planned decarbonization pathway is aligned with the Paris Agreement. It is precisely compliance with the Paris Agreement, which calls for limiting the global average temperature increase to well below 2°C, that ensures that a company's decarbonization targets are based on science, or as they often say, "science-based targets."
What is the Science Based Target initiative?
TheScience Based Targets(SBTi)initiative , launched in 2015, promotes the setting of science-based decarbonization targets to strengthen the competitive position of companies that want to move to a low-carbon economy. Companies participating in SBTi pledge to set an emissions reduction target in line with the Paris Agreement, committing to limit global warming to 1.5ºC or well below 2ºC.
TheScience Based Targets initiative isa collaboration between CDP (formerly the Carbon Disclosure Project), the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), and is one of the commitments of the We Mean Business Coalition.
Why should my company set a science-based target?
By setting a science-based goal, companies can show customers their commitment to sustainability and their fight against climate change in a more concrete way, becoming pioneers in their industry. This could also encourage other companies, customers, and suppliers to join in and push governments to take further action in the fight against global warming. As SBTi has shown, setting science-based targets also has economic benefits on companies, increases resilience against regulation, boosts investor confidence, and stimulates innovation and competitiveness.
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