The Science Based Targets initiative is calling on companies to demonstrate their leadership on climate action by publicly committing to science-based GHG reduction targets. We plan to enlist 100 companies in 2015 and 250 companies by 2020. All participating companies will be recognized at www.sciencebasedtargets.org.
Watch a recording of a webinar on the Science Based Targets Call to Action campaign.
To join the movement and become one of the first 100 companies to take this important step towards the low-carbon economy, complete the following three steps:
- Complete the commitment letter form. Completing this form indicates a commitment to setting a science-based target if one does not already exist at your company. Your company will be listed as “in process of setting a science-based target” at www.sciencebasedtargets.org.
- Develop a target. Your company will have 24 months to develop and announce a science-based target.
- Announce your target. Your company must submit the ‘Science Based Target Form’. The information provided enables the Science Based Targets team to review the target against the eligibility criteria. Upon confirmation, the company will be listed and showcased on the Science Based Targets website and other communications.
Criteria for setting a science based target
- Scope: The target boundary must be company-wide covering all of the GHGs included in the GHG Protocol, and must include Scope 1 and Scope 2 emissions as per the GHG Protocol Corporate Standard.
- Timeframe: The commitment period must cover a minimum of 5 years from the date of announcement of the target.
- Level of ambition: The ambition of the target must lead to a gross GHG reduction rate that is consistent with the level of decarbonization required to keep global temperature increase well below 2°C compared to pre-industrial temperatures, as described in the Fifth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC).
- Reporting: Companies are required to disclose their GHG emissions on an annual basis along with any other data that shows progress against their targets.
- Companies are encouraged to develop mid- (e.g. 2030) and long-term goals (e.g. 2050) along with their respective interim milestones.
- Companies are encouraged to express their targets on an absolute and intensity basis.
- When scope 3 emissions cover a significant portion of the company’s overall emissions, it is recommended to develop an ambitious scope 3 reduction target to announce alongside the science based target covering Scope 1 and 2 emissions.
Resources and support for participating companies
CDP, UN Global Compact, WRI and WWF provide guidance, resources and support for companies interested in setting science based targets.
- Participating companies may choose the most suitable methodology for setting science-based targets. One method is the Sectoral Decarbonization Approach (SDA). The SDA is sector-specific, enabling users to account for differences in mitigation potentials and costs among sectors and is most suitable for companies in the following sectors: Aluminum, iron and steel, cement, power generation, transport (air, light-road, heavy-road, rail), pulp and paper, and service buildings.
- Companies will be invited to webinars, workshops, and events to build capacity and share corporate knowledge about setting science-based targets.
- Participating companies will be recognized and profiled on the Science Based Targets website, corporate factsheets, and other communication activities planned by the initiative.
- Participating companies receive a detailed review of their target to ensure it meets the established criteria.
- Interested companies can receive more in-depth technical support from the Science Based Targets partner organizations to develop their target for a fee.
Visit the Science Based Targets website to get started.