Science Based Targets initiative (SBTi)

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Developed by the World Resources Initiative (WRI) the Science Based Targets initiative (SBTi):

  • Defines and promotes best practices in emissions reductions and net-zero targets in line with climate science;
  • Provides target setting methods and guidance to companies to set science-based targets in line with the latest climate science;
  • Includes a team of experts to provide companies with independent assessment and validation of targets;
  • Serves as the lead partner of the Business Ambition for 1.5°C campaign, an urgent call to action from a global coalition of UN agencies, business and industry leaders that mobilises companies to set net-zero science-based targets in line with a 1.5 degrees C future.

Over 1,200 companies worldwide are leading the transition to a net zero economy by setting emissions reduction targets grounded in climate science through the SBTi. As of February 2020, over 590 companies have had science-based targets approved with the SBTi.

As of 2019, companies who signed up to the SBTi had operational emissions totaling over 750 million tons of carbon dioxide — more than the annual emissions of France and Spain put together. Their combined market capitalisation was over $10.8 trillion.

Given the scale of their emissions and capital, emissions reduction and climate action in these companies can lead to significant changes in global emissions.

SBTi is working to define a science-based standard for net-zero target setting, to ensure that companies’ targets translate into action that is consistent with achieving a net-zero world by no later than 2050.

Links

World Resources Institute SBTi
Science Based Targets