“Science-based targets should become a standard business practice”

Alberto Carrillo Pineda, Director of Science Based Targets and Renewable Energy at CDP

What are science-based targets?

Science-based targets are those adopted by companies to reduce greenhouse gas emissions in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement — to limit global warming to well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.

Alberto believes that by joining the Science Based Targets initiative (SBTi) and publicly committing to science-based targets, companies are able to demonstrate their leadership on climate action. These targets are validated by a panel of industry experts. “As more and more companies join the initiative it will create a critical mass that will drive an increase in science-based target setting throughout the private sector” says Alberto.

Towards a Net Zero Future

“As well as an important tool for companies aligning with the 1.5°C scenario, science-based targets also help companies take action in the shorter-term, while aligning with the long-term goal of reaching net-zero emissions by mid-century” says Alberto. The combination of shorter-term science-based targets with long-term strategies provides a powerful combination that gives certainty to investors and other stakeholders that the company is mitigating transition risks.

Good for business

Businesses are seeing benefits from setting science-based targets in six areas of business: increasing innovation; reducing regulatory uncertainty; strengthening investor confidence and credibility; improving profitability and competitiveness; improving brand reputation; and bottom line savings.

The SBTi is a collaboration between CDP, the UN Global Compact, World Resources Institute (WRI), and the WWF, and is one of the We Mean Business Coalition commitments.

600+ companies have committed to setting science-based targets within 24 months

230+ companies have had their science-based targets validated by the SBTi.

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