The Paris Agreement marked a pivotal moment in the global fight against climate change, emphasizing the need to limit global warming. However, it lacked a standardized framework for achieving net-zero emissions, leading to the creation of the Science Based Targets initiative (SBTi). This article guides you through the process of setting science-based targets aligned with the SBTi charter, providing a clear pathway for businesses to contribute to global climate goals.

Understanding Science-Based Targets

To comprehend science-based targets, it's crucial to distinguish them from net-zero goals. SBTi offers a framework for companies, defining realistic science-based targets that align with the level of decarbonization required to limit global warming, ideally below 1.5°C above pre-industrial levels. Achieving SBTi approval involves a rigorous sustainability and greenhouse gas (GHG) audit, covering emissions inventory, reduction targets, progress assessment, and guidance resources.

Importance of Science-Based Targets

The urgency to act is underlined by IPCC reports, emphasizing the need for immediate action to avoid worst-case climate scenarios. Businesses are urged to act as the private sector, responsible for over 70% of global greenhouse gas emissions since 1988. Regulatory requirements, pressure from investors, consumers, employees, and supply chain dynamics drive the adoption of science-based targets across businesses of all sizes.

Who Can Set Science-Based Targets?

The SBTi family has grown significantly, with over 4,000 companies, covering a third of the global economy, setting or committing to set targets via SBTi. While major corporations are significant contributors, SBTi welcomes businesses of all sizes, providing specific guidance tailored to small-to-medium-sized enterprises (SMEs).

The Five-Step Process

Step 1: Commit to the Cause Large companies initiate the process by committing to science-based targets. Eligible businesses register online, submit a commitment letter, and, once accepted, have a two-year window to submit their targets.

Step 2: Develop Emissions Reduction Targets This complex step involves setting emissions reduction targets, where the SBTi offers resources like sector-specific guidance and SME guidance. Utilizing emissions management software can simplify this process.

Step 3: Submit Businesses submit their targets, undergoing SBTi review and validation against the framework. The review committee provides detailed feedback.

Step 4: Communicate Upon approval, targets are published on the SBTi website, and businesses have six months to disclose them publicly. Failure to communicate prompts revalidation.

Step 5: Disclose Companies regularly disclose annual GHG emissions and progress toward goals through sustainability and carbon accounting reports, ensuring transparency.

Setting and Achieving Science-Based Targets with Climabrite

Achieving sustainability goals demands meticulous effort. Carbon management solutions, such as Climabrite, offer support for businesses to measure, manage, and report progress, making the journey toward science-based targets more feasible.