Science Based Targets initiative (SBTi)

The Science Based Targets initiative (SBTi) is a global body that enables businesses and financial institutions to set ambitious emissions reduction targets in line with the latest climate science. These targets aim to meet the goals of the Paris Agreement, specifically limiting global warming to 1.5°C above pre-industrial levels. By providing a clear framework and validation process, the SBTi guides companies in reducing greenhouse gas emissions, thereby mitigating the impacts of climate change while supporting sustainable business growth.

Key aspects of the SBTi include:

• Standard Setting: Developing and promoting best practices in emissions reductions and net-zero targets aligned with climate science.
• Guidance and Tools: Offering standards, tools, and guidance to assist companies and financial institutions in setting science-based targets.
• Validation Services: Assessing and validating the emissions reduction targets of companies and financial institutions to ensure alignment with scientific criteria.

As of the end of 2023, over 4,000 companies and financial institutions have committed to the SBTi, demonstrating leadership in the transition to a net-zero economy.

Source(s):

• Science Based Targets Initiative. (n.d.). About Us.
• Science Based Targets Initiative. (n.d.). How It Works.
• World Resources Institute. (n.d.). Science Based Targets Initiative.

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