Organization:Science Based Targets initiative
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| Established | 2015 |
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| Website | sciencebasedtargets.org |
The Science Based Targets initiative (SBTi) is a collaboration between the CDP (it was the 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]
Organization
The Science Based Targets initiative was established in 2015 [3] to help companies to set emission reduction targets in line with climate sciences[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: [citation needed]
- Aviation
- Apparel and footwear
- Financial institutions
- Information and Communication Technology
See also
- World Resources Institute
- Carbon Disclosure Project
- United Nations Global Compact
- Paris Agreement
- Carbon neutrality
References
- ↑ Science Based Targets, Partner organizations, accessed 2 December 2021
- ↑ "30+ target-setting firms reduce emissions by a quarter in five years". https://wwf.panda.org/wwf_news/?1292466/sbti-emissions-reductions.
- ↑ 3.0 3.1 Real Sustainability, Science Based Targets for Financial Institutions, accessed 2 December 2021
- ↑ "Set Science-Based Emission Reduction Targets". https://www.unglobalcompact.org/take-action/action/science-based-target.
- ↑ "Lead the way to a low-carbon future". https://sciencebasedtargets.org/how-it-works.
- ↑ "Funders". https://sciencebasedtargets.org/about-us/funders.
- ↑ "SBTi Launches World-First Net-Zero Corporate Standard". https://wwf.panda.org/wwf_news/?4113966/SBTi-net-zero.
- ↑ "For corporate net zero targets, focus on the big picture". https://www.sei.org/perspectives/corporate-net-zero-targets.
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