In 2018, the Intergovernmental Panel on Climate Change (IPCC) warned that global warming must not exceed 1.5 degrees C above pre-industrial temperatures to avoid the most catastrophic impacts of climate change. Business has a vital role to play in driving down greenhouse gas (GHG) emissions and building a resilient, zero-emissions economy grounded in science. 

Science-based targets show companies how much and how quickly businesses need to reduce their GHG emissions to prevent the worst impacts of climate change, leading them on a clear path towards decarbonization. By guiding companies in science-based target setting, SBTi enables them to tackle climate change while seizing the benefits and boosting their competitiveness in the transition to a net-zero economy. 

The Science Based Targets initiative (SBTi):

  • Defines and promotes best practices in emissions reductions and net-zero targets in line with climate science.
  • Provides target setting methods and guidance to companies to set science-based targets in line with the latest climate science.
  • Includes a team of experts to provide companies with independent assessment and validation of targets.

Over 4,000 companies worldwide are leading the transition to a net-zero economy by setting emissions reduction targets grounded in climate science through the SBTi. As of March 2023, over 2,300 companies have had science-based targets approved with the SBTi. The SBTi’s 2021 Progress Report revealed that one third of global market capitalization has committed to climate action through the SBTi, and 1.5 billion tonnes of CO2 are covered by the SBTi (scopes 1 and 2). 2021 also saw 53 million tonnes of CO2 emissions reductions across all targets.

SBTi launched its groundbreaking Net-Zero Standard in October 2021, providing companies with the guidance and tools needed to set science-based net-zero targets. As of March 2023, over 170 companies have validated net-zero targets. SBTi is also developing the world’s first Standard for science-based net-zero target setting for the Financial sector, expected to launch in early 2024.

Publications from the Science Based Targets initiative

Discover more on SBTi’s website