Science Based Targets initiative
| File:Science Based Targets initiative.svg | |
| Established | 2015 |
|---|---|
| Website | sciencebasedtargets.org |
The Science Based Targets initiative (SBTi) is a collaboration between the CDP (was 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 science[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]
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".
- ^ a b Real Sustainability, Science Based Targets for Financial Institutions, accessed 2 December 2021
- ^ "Set Science-Based Emission Reduction Targets".
- ^ "LEAD THE WAY TO A LOW-CARBON FUTURE".
- ^ "FUNDERS".
- ^ "SBTi Launches World-First Net-Zero Corporate Standard".
- ^ "For corporate net zero targets, focus on the big picture".