Climate Action: Science Based Targets
A universal approach for business to transition to a low-carbon economy
Science-based targets outline how much a company needs to reduce its greenhouse gas emissions to stay in line with a global carbon budget that would keep us well below two degrees of warming, compared to pre-industrial levels.
The development and widespread adoption of science-based targets can be linked to the Paris Climate Conference (COP21) and the ratification by 175 nations to limit global warming to 2°C with the ambition of achieving a 1.5°C limit. Many companies setting science-based targets are doing so through the SBTi. The initiative offers companies that wish to commit to science-based targets the guidance, tools, and technical assistance to do so.
Science-based targets are designed to help keep our planet within its global carbon budget, reducing global temperature rise and limiting the effects of climate change as much as possible. So in that sense, we all benefit.
More specifically, businesses setting science-based targets stand to benefit enormously – increasing innovation and competitiveness, while reducing costs and positioning themselves as leaders. Enhanced reputation is also a big benefit, helping business attract talent, loyal customers, higher quality suppliers and investors.