What is the Science Based Targets Initiative (SBTi)?
The Science Based Targets Initiative (SBTi) is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). It provides companies with clear guidance on how they can develop science-based targets to reduce greenhouse gas emissions in order to do their part to limit global warming in line with the goals of the Paris Climate Agreement.
SBTi promotes emissions reduction in accordance with the GHG Protocol
To achieve this goal, the SBTi promotes the use of the Greenhouse Gas Protocol, which helps companies to identify, calculate and reduce their emissions across all three scopes - direct emissions (Scope 1), indirect energy emissions (Scope 2) and all other indirect emissions (Scope 3).
Science Based Targets support on the way to Net-Zero
A central concept of the SBTi is the achievement of net zero emissions, i.e. companies' efforts to completely neutralize their net greenhouse gas emissions. The initiative offers support and tools to help companies on their way to sustainable business practices. This process includes the reduction of greenhouse gas emissions described above and, where unavoidable, the offsetting of remaining emissions in order to ultimately achieve balance sheet greenhouse gas neutrality.
SBTipromotes transparent reporting and cooperation
In addition to the concepts for target achievement, the SBTi emphasizes transparency and encourages companies to report on their progress in reducing emissions and achieving their SBTi targets. This increases stakeholder confidence and promotes compliance with sustainability standards. In addition, the Science Based Targets initiative promotes cooperation between companies, governments and other stakeholders in order to jointly achieve climate protection targets.
The validation process for science-based targets
- Companies sign a declaration of commitment to express their intention to set science-based targets.
- Within 24 months, they develop science-based targets to reduce their greenhouse gas emissions.
- They submit the developed targets to the Science Based Targets Initiative (SBTi) for evaluation.
- After the review, the targets are validated by the SBTi to confirm their consistency with scientific evidence.
- Companies communicate their validated targets publicly and report regularly on their progress.
Why are SBTi targets important for companies?
Setting SBTi targets enables companies to set clearly defined and measurable goals for reducing their emissions. This not only promotes sustainability and responsibility towards climate change, but also strengthens the company's competitiveness and image.