The Science Based Targets initiative (SBTi) drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets.
The SBTi is a partnership between Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi call to action is one of the We Mean Business Coalition commitments.
We must urgently increase ambition in the fight against climate change.
The latest climate science sends a clear warning that we must dramatically curb temperature rise to avoid the catastrophic impacts of climate change.
Science-based targets show companies how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to prevent the worst effects of climate change.
The Science Based Targets initiative (SBTi):
Defines and promotes best practice in emissions reductions and net-zero targets in line with climate science.
Provides technical assistance and expert resources to companies who set science-based targets in line with the latest climate science.
Brings together a team of experts to provide companies with independent assessment and validation of targets.
The SBTi is the lead partner of UN agencies, business and industry leaders, mobilizing companies to set net-zero science-based targets in line with a 1.5°C future.
The change has already begun and action is gaining pace. Nearly one thousand companies worldwide are leading the transition to a net-zero economy by setting emissions reduction targets grounded in climate science through the SBTi.
The race is on to limit global warming to 1.5°C and prevent the worst effects of climate change.
Through the 2015 Paris Agreement, world governments committed to limiting global temperature rise to well-below 2°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C. In 2018, the Intergovernmental Panel on Climate Change (IPCC) warned that global warming must not exceed 1.5°C above pre-industrial temperatures to avoid the catastrophic impacts of climate change. To achieve this, greenhouse gas (GHG) emissions must halve by 2030 – and drop to net zero by 2050.
Business has a vital role to play in driving down greenhouse gas emissions and building the resilient, zero-emissions economy we urgently need. This action must be grounded in science.
We need a race to the top, led by pioneering companies. This will empower peers, suppliers and customers to follow suit and drive governments to take bolder action.
The SBTi mobilizes the private sector to take the lead on urgent climate action.
Science-based targets show companies how much and how quickly businesses need to reduce their GHG emissions to prevent the worst impacts of climate change - leading them on a clear path towards decarbonization.
By guiding companies in science-based target setting, we enable them to tackle global warming while seizing the benefits and boosting their competitiveness in the transition to a net-zero economy.
Action is needed in key sectors, many of which require tailored approaches to setting targets. The SBTi provides clarity and guidance on these journeys, from the oil and gas to finance sectors.
The SBTi is also working to define a science-based standard for net-zero target setting, to ensure that companies’ net-zero targets translate into action that is consistent with achieving a net-zero world by no later than 2050.
We know that governments and business must act together. Business action paired with clear policies and targets result in positively reinforcing ‘ambition loops’ that will accelerate the full decarbonization of every system of the economy. Widespread and ambitious science-based target setting gives governments the clarity and confidence to take bolder action.
We support the integration of science-based target setting into existing climate leadership platforms including UN Caring for Climate, WWF Climate Savers and others.
Our vision is for science-based target setting to become the new normal, creating a thriving economy in harmony with the natural world that sustains us all.
The transformation to a net-zero economy is achievable and has already begun.
Over one thousand leading businesses are setting emissions reduction targets in line with the latest climate science. Our latest progress report shows that this is resulting in emissions reductions at scale - the companies we analyzed have collectively reduced their annual emissions by 25% between 2015 and 2019. The momentum today shows it is possible to fully decarbonise our economy by 2050 — or sooner — if the opportunity is fully harnessed and supported by all global economic actors.
As of October 2020, companies who signed up to the SBTi had operational emissions totalling over 1.2 billion tonnes of CO2e. Their combined market capitalization was $20.5 trillion USD. Among them are pioneers from some of the highest-emitting sectors, such as cement, power generation and steel.
These companies are leading the way. However, we need every company, in every sector, to join them. The future of our planet depends on this.
Science-based target setting is already becoming part of the yearly reporting practice of companies and the data infrastructure for institutional investors through incorporation in the CDP questionnaire and scoring.