What are science based targets climate?

What are ‘science-based targets’? Science-based targets provide a clearly-defined pathway for companies to reduce greenhouse gas (GHG) emissions, helping prevent the worst impacts of climate change and future-proof business growth.

What are Science-based targets explained?

Science-based targets are a set of goals developed by a business to provide it with a clear route to reduce greenhouse gas emissions. An emissions reduction target is defined as ‘science-based’ if it is developed in line with the scale of reductions required to keep global warming below 2C from pre-industrial levels.

What are science-based ESG targets?

Science-Based Targets are a unique science-based method for companies to establish clearly defined greenhouse gas reduction targets within a given time frame. … Reducing greenhouse gas emissions is not only the social and environmentally responsible thing to do, but now it’s also good for business.

How many science targets are there?

Latest News 10 Nov 2021 More than 1,000 companies commit to science-based emissions reductions in line with 1.5°C climate ambition The Science Based Targets initiative (SBTi) and the United Nations Global Compact today announced that more than 1,000 companies are setting 1.5°C-aligned science-based targets as part of a …

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What is a science-based carbon target?

To put it simply, a carbon emissions target is defined as science-based if it is in line with the scale of reductions required to keep global temperature increase below 2°C above pre-industrial temperatures.

How do you establish a science-based target?

Take these 9 steps to demystify science-based targets

  1. Know the targets. …
  2. Make the case. …
  3. Know the methods. …
  4. Know the data. …
  5. Learn the methodologies. …
  6. Set the target. …
  7. Validate the target. …
  8. Communicate the target.

Do science-based targets allow offsets?

Science-based targets do not allow carbon offsetting to achieve targets. As long as a net zero target requires decarbonization at a date in line with, or earlier than, that dictated by climate change science, i.e. reaching zero carbon around mid-century, without the use of carbon offsets, it is a science-based target.

What does it mean to be science-based?

It essentially means that some decision that is made is done in a way that takes scientific methods and/or results into account. … If you made such a decision based on the information presented here, that decision would, thus, be based on the scientific work at hand. Or, in a phrase, the decision would be science-based.

Who created Science-based targets?

The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Since 2015 more than 1,000 companies joined the initiative to set a science-based climate target.

How do you set a science based target to achieve net-zero?

Join the world’s biggest companies by cutting your GHG emissions

  1. COMMIT Submit a letter establishing your intent to set a science-based net-zero target.
  2. DEVELOP Work on an emissions reduction target in line with the SBTi’s net-zero criteria.
  3. SUBMIT Present your target to the SBTi for official validation.
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When did science-based targets start?

When the Science Based Targets initiative (SBTi) started back in 2015, in the run-up to the landmark Paris climate change conference, it had a simple aim: to help companies set targets to reduce their greenhouse gas (GHG) emissions according to what science said was needed to avert dangerous climate change.

Do science-based targets include Scope 3 emissions?

The most ambitious scope 3 targets are set using a science-based targets setting method. These methods are designed for addressing scope 1 and 2 emissions, but they can be applied to scope 3 as well.

What is all science-based on?

Science is the pursuit and application of knowledge and understanding of the natural and social world following a systematic methodology based on evidence.

What is a Paris aligned target?

The Paris Agreement is a legally binding international treaty on climate change. … Its goal is to limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels.

What are scope 2 emissions?

Scope 2 emissions are indirect GHG emissions associated with the purchase of electricity, steam, heat, or cooling. Although scope 2 emissions physically occur at the facility where they are generated, they are accounted for in an organization’s GHG inventory because they are a result of the organization’s energy use.