Science-based targets (SBTs) give organizations a well-defined path to follow as they cut their greenhouse gas (GHG) emissions, preventing the worst effects of climate change and securing business success in the future. Targets are deemed "science-based" if they are in accordance with what the most recent research on climate change indicates is required to achieve the Paris Agreement's objectives of keeping global temperature well below 2°C and pursuing efforts to keep it below 1.5°C.
One of the key benefits of SBTs is that they provide a clear and measurable way for companies to track their progress in reducing emissions. This can help to ensure that they are making the necessary changes to meet their goals and ultimately help to reduce their carbon footprint.
Another benefit is that they help to create a level playing field for companies. By setting targets that are based on the latest science, all companies are held to the same standard and are encouraged to do their part in reducing emissions.
Companies can set science-based targets by using the Science Based Targets initiative (SBTi). The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wildlife Fund (WWF). This initiative provides companies with a framework for setting and achieving science-based targets and also provides support and resources to help companies implement these targets.