What is Science Based Target Initiative (SBTi)

The Science-Based Targets Initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact (UNGC), the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). The SBTi was launched in 2015 to help companies set targets for greenhouse gas (GHG) emissions reduction in line with scientific evidence to limit global warming to below 2°C above pre-industrial levels, and preferably to 1.5°C.

The SBTi provides a framework for companies to set targets that are based on scientific evidence and that align with global efforts to address climate change. The initiative also provides guidance and resources to companies to help them achieve their targets. The SBTi’s goal is to encourage corporate action on climate change and promote sustainable development.

The SBTi’s verification criteria are used to ensure that companies’ targets are in line with the latest climate science and that their emissions reduction goals are aligned with the global effort to address climate change. The verification process includes the following steps:

1. Commitment: Companies must publicly commit to setting a science-based target and submit a letter of commitment to the SBTi.
2. Target submission: Companies must submit their proposed targets to the SBTi for review. The targets must be based on the SBTi’s target setting framework and must be consistent with the latest climate science.
3. Technical review: The SBTi conducts a technical review of the company’s proposed targets to ensure that they are based on the latest climate science and that they are consistent with the SBTi’s target setting framework.
4. Stakeholder consultation: The SBTi consults with stakeholders, including NGOs, academics, and other experts, to gather feedback on the company’s proposed targets.
5. Final approval: Once the technical review and stakeholder consultation have been completed, the SBTi provides final approval for the company’s targets.
6. Progress reporting: Companies are required to report on their progress towards their targets on an annual basis and to provide evidence to support their claims.

The SBTi has two types of targets: absolute reduction targets and intensity reduction targets. Absolute reduction targets require companies to reduce their greenhouse gas emissions by a specific amount over a specified period of time. Intensity reduction targets require companies to reduce their greenhouse gas emissions intensity (i.e., emissions per unit of production) by a specific amount over a specified period of time. The SBTi’s target setting framework is based on the latest climate science and the recommendations of the Intergovernmental Panel on Climate Change (IPCC).

In conclusion, the Science-Based Targets Initiative provides a framework for companies to set greenhouse gas reduction targets in line with scientific evidence to limit global warming to below 2°C above pre-industrial levels, and preferably to 1.5°C. The SBTi’s verification criteria ensure that companies’ targets are based on the latest climate science and that their emissions reduction goals align with the global effort to address climate change. The initiative is an important tool to drive corporate action on climate change and promote sustainable development.