Science Based Targets initiative

General

Name of initiative Science Based Targets initiative
LPAA initiative Yes
NAZCA Initiative Yes
Website address http://sciencebasedtargets.org/
Related initiatives
Starting year 2015
End year
Secretariat Heidi Huusko, United Nations Global Compact, 685 3rd Ave 12th Floor, New York, NY 10017, phone: +1 646 884 7513, Email: huusko@un.org
Organisational structure A steering committee (one representative from CDP, UN Global Compact, WRI and WWF) constitutes the main decision making-body of the initiative.

A high-level advisory board, composed of one high-level representative per partner organization and a representative from WMB, provides guidance, mobilize resources, and ensure internal buy-in within each of the partner organizations.

A core team, hosted by the partner organizations, delivers the strategy and work plan. The SBT core team members lead the implementation of key pieces of the SBT strategy in coordination with the relevant stakeholders within each of the partner organizations and externally. The SBT core team is the main implementation body of the SBT strategy, except for corporate engagement activities, that will remain within each of the partner organizations.

A Technical Advisory group consists of experts in the field of corporate sustainability, particularly dealing with science-based target setting methods, who give independent advice and input to the development of new methodologies.

Geographical coverage Global
Name of lead organisation CDP, UN Global Compact, World Resources Institute (WRI), World Wide Fund for Nature (WWF)
Type of lead organisation Business, Network/Consortium/Partnership
Location/Nationality of lead organisation United States of America

Description

Description Science Based Targets is a joint initiative by CDP, the UN Global Compact (UNGC), the World Resources Institute (WRI) and WWF intended to increase corporate ambition on climate action by changing the conversation on GHG emissions reduction target setting and creating an expectation that companies will set targets consistent with the level of decarbonization required by science to limit global warming to less than 2°C compared to pre-industrial temperatures.
Objectives
Activities Corporate engagement and outreach
One or two success stories achieved Overall science based targets has caught up with the language of various stakeholders working on climate issues, and given guidance and methods on how companies can set a GHG target aligned with climate science. Post COP21 our strategy is to turn science-based target setting into standard business practice.

Institutionalized the adoption of science based targets via CDP Questionnaire and Scoring: - SBT has been included into CDP questionnaire requiring sustainability practitioners in thousands of companies to assess if their targets are SBT. - CDP incorporates in 2016 scoring leadership points for having a SBT validated by the Call to Action campaign Reduced barriers for setting targets aligned with climate science: - Supported dozens of companies in the process of establishing and disclosing their science-based reduction targets - Developed a freely-available Sectoral Decarbonization Approach (SDA) method and calculation tool to supplement existing science-based target setting approaches and leverage newly-available mitigation data - Drafted a manual that provides best practices on how to adopt and implement science based targets Created a Critical mass (by COP21): - Published a report that highlights the gap between current company target levels and the level of decarbonization required by science to limit global warming to less than 2°C compared to pre-industrial temperatures - Recruited 118 companies, from more than 20 countries, to make a commitment to set a science based target - Reviewed and approved the targets of 11 companies

Notable examples of high-profile companies that have passed this official check and their targets are: • Coca-Cola Enterprises, Inc.: Coca-Cola Enterprises commits to reduce absolute GHG emissions from their core business operations 50% by 2020, using a 2007 base-year. Coca-Cola Enterprises also commits to reduce the GHG emissions from their drinks 33% by 2020, using a 2007 base-year. • Enel: Enel commits to reduce CO2 emissions 25% per kWh by 2020, from a 2007 base-year. The target includes the decommissioning of 13 GW of fossil power plants in Italy, and is a milestone in the long term goal to operate in carbon neutrality by 2050. • Sony: Sony commits to reduce GHG emissions from its operations by 42% below fiscal year 2000 levels by fiscal year 2020. Also, the company has a long-term vision of reducing its environmental footprint to zero by 2050, requiring a 90% reduction in emissions over 2008 levels by 2050 (scopes 1, 2, and 3).

Monitoring and Impacts

Sustainable Development Impact:
E SDG goals icons-individual-rgb-13.png  
Function of initiative Implementation, Technical dialogue
Activity of initiative Goal setting (ex-ante), Knowledge dissemination and exchange, Technical operational implementation (ex-post)
Indicators
Technical operational implementation (ex-post) — Stakeholders who have committed to the goals
Year20152016201720182019
Value (#)47104228438604
Goal setting (ex-ante) — Stakeholders who have committed to the goals
Year2030
Value (#)2000
Goal setting (ex-ante) — Total Mitigation
Year2030
Value (MtCO2e/yr)2000
Goals 1.In July 2019 at 367 leading companies will have committed to adopt science-based GHG emission reduction targets and 237 companies have approved science-based targets.

2.Science-based target setting will be embedded in key mechanisms and platforms that lead to the widespread and sustained adoption of GHG emission reduction targets in line with science as a standard business practice in priority regions and sectors.

3.In support of the Paris Agreement, science based targets from leading companies demonstrate to policy-makers the scale of emission reductions that are achievable to positively influence international climate negotiations and domestic climate policy.

Comments on indicators and goals tCO2e estimate from the report: "Individual actors, collective initiatives and their impact on global greenhouse gas emissions", New Climate, PBL, and Yale 2018. Assuming that by 2030, 2000 companies have adopted a science-based target in line with the 2 degree goal."tCO2e estimate from the report: "Individual actors, collective initiatives and their impact on global greenhouse gas emissions", New Climate, PBL, and Yale 2018. Assuming that by 2030, 2000 companies have adopted a science-based target in line with the 2 degree goal." cannot be used as a page name in this wiki.
How will goals be achieved
Have you changed or strenghtened your goals
Progress towards the goals We had a goal of 100 companies for COP21. By COP21 38 companies committed to set a SBT with 9 already having a validated SBT. After COP21 there are approximately 2 companies joining/week.

The initiative is working to develop methods for the sectors not currently or insufficiently covered by the Sectoral Decabonization Approach and aims to have these completed within approximately the next year (2017). We are also refining our eligibility criteria and recommendations to provide companies with as much information as possible to assist them in developing their targets.

Advice on products: Defines and promotes best practice in science-based target setting with the support of a Technical Advisory Group.

How are you tracking progress of your initiative The initiative tracks the number of companies that have "signed up" to SBTs and the targets that have passed the SBTi's official target quality check. Those that are "signed up" are either companies that have signed a commitment letter stating that they will set a science-based target meeting the SBTi's Call to Action eligibility criteria within two years and those that have approved science-based targets (whether they had submitted a commitment letter previously or not). Both numbers are displayed on the SBTi's website at http://sciencebasedtargets.org/companies-taking-action/.
Available reporting While the SBTi has outlined reasons that companies with ambitious targets are often more successful, it has not yet done an in-depth analysis of the business case for companies that have set SBTs. It is considering doing so in the future.

Regulation and reporting: One of the objectives of the SBTi was to demonstrate the scale of ambition of the private sector to policymakers. The main push was for COP 21. In the wake of the Paris Agreement SBT engagement strategies will incorporate NDCs where possible. Regarding reporting, CDP has started scoring SBT information in its climate change questionnaire starting in 2016 and still continue to do so.

Participants

Participants Number Names
Members 270  
Companies 237 A2A (Italy),ABB (Switzerland),Acciona (Spain),Aditya Birla Chemicals India Ltd (India),Adobe Systems (USA),ADVA Optical Networking SE (Germany),Advanced Micro Devices (USA),AECOM (USA),Aeon Co. (Japan),Agder Energi (Norway),Aguas Andinas S.A. (Chile)

Ajinomoto Co. (Japan),akzente kommunikation und beratung gmbh (Germany),AkzoNobel (Netherlands),Alaya Consulting Ltd. in Hong Kong (China),Aldo Group (Canada),Alma Media Corporation (Finland),Altarea Cogedim (France),Altria Group Inc. (USA),Ambuja Cements (India),Amdocs Ltd (USA),Anheuser Busch InBev (Belgium),Anthem Inc (USA),Applied Optoelectronics Inc. (USA),AptarGroup (USA),ARÇELİK A.Ş. (Turkey),ARM Holdings (United Kingdom),Asahi Group Holdings (Japan),ASG (United kingdom),ASICS Corporation (Japan),ASKUL Corporation (Japan),ASM International (Netherlands),Astellas Pharma Inc. (Japan),AstraZeneca (United Kingdom),Atea ASA (Norway),Atos SE (France),Auckland Airport (New Zealand),Autodesk Inc. (USA),Avangrid Inc (USA),Avery Dennison Corporation (USA),Ball Corporation (USA),Banka BioLoo (India),Barilla G.R. Fratelli SpA (Italy),BEL GROUP (France),Ben & Jerry's (USA),Benesse Holdings Inc. (Japan),Bennetts Associates (UK),Berry Global Group Inc (USA),Best Buy Co. Inc. (USA),BillerudKorsnäs (Sweden),Biogen Inc. (USA),Borregaard AS (Norway),Boston Properties (USA),bpost SA (Belgium),BRİSA BRIDGESTONE SABANCI LASTİK SAN.VE TİC.A.Ş (Turkey),Bristlecone Inc (USA),Broad Group (China) Brother Industries Ltd. (Japan),Brown-Forman Corporation (USA),BT Group (United Kingdom),Bugaboo International bv (Netherlands),C6 Technology Limited (United Kingdom),CA Technologies (USA),Cadmus Group (USA),Caesars Entertainment (USA),Capgemini (France),Capgemini UK (United Kingdom),Carbon Credentials (United Kingdom),Carlsberg Group (Denmark),Carrefour (France),Casino Guichard-Perrachon (France),Castellum AB (Sweden),Ceconomy AG (Germany),Celestica Inc. (Canada),CEWE Stiftung & Co. KGaA (Germany),Chanel (France),Cisco Systems Inc. (USA),City Developments Limited (Singapore),CLP Holdings Limited (China),CMS CAMERON MCKENNA (United Kingdom),CNH Industrial NV (United Kingdom),Coca Cola European Partners (United Kingdom),Coca-Cola Femsa Sab-Ser l (Mexico),Coca-Cola HBC AG (Switzerland),Colgate Palmolive Company (USA),CommonWealth Partners (USA),Compass (United Kingdom),Constantia Flexibles International GmbH (Austria),Contact Energy (New Zealand),Corbion (Netherlands),Correos - Grupo Sepi (Spain),Coway Co Ltd (South Korea) CRH Plc (Ireland),CTT - Correios de Portugal SA (Portugal),Cummins Inc. (USA),CVS Health (USA),Dai Nippon Printing Co. Ltd. (Japan),Daiichi Sankyo Co. Ltd. (Japan),Daikin Industries Ltd. (Japan),Daimler AG (Germany),Daito Trust Construction Co. Ltd. (Japan),Daiwa House Industry Co. Ltd (Japan),DALMIA CEMENT - BHARAT- LIMITED (India),Danieli & C Officine Meccaniche S.p.A. (Italy),Danone (France),Dell Technologies (USA),Denner AG (Switzerland),Dentsu Inc. (Japan),Derwent London Plc (United Kingdom),Deutsche Bahn AG (Germany),Deutsche Post AG (Germany),Dexus Property Group (Australia),DFH Deutsche Fertighaus Holding AG (Germany),Diab International AB (Sweden),Diageo Plc (United Kingdom),dormakaba Holding AG (Switzerland),DPD GeoPost GmbH (Germany),Edge Environment Pty Ltd (Australia),EDP - Energias de Portugal S.A. (Portugal),Eisai Co.,Ltd. (Japan),Electrolux (Sweden),Elisa Corporation (Finland),Emira Property Fund Ltd (South Africa),Eneco (Netherlands),Enel SpA (Italy),Enviro-Mark Solutions (New Zealand),Ericsson Group (Sweden),ERM United Kingdom (UK),Essity AB (Sweden),EVRY ASA (Norway),Ferrovial (Spain),FIRMENICH SA (Switzerland),Forest City Realty Trust Inc. (USA),FRASERS PROPERTY AUSTRALIA (Australia),FUJIFILM Holdings Corporation ((Japan),Fujitsu Limited (Japan),Gecina (France),General Mills Inc. (USA),Givaudan SA (Switzerland),Grant Thornton UK LLP (UK),Green Element Limited (UK),Greif Holding GmbH & Co. KG (Germany),GROUPE RENAULT (France),Groupe SEB (France),H&M Hennes & Mauritz AB (Sweden),Heidelberg Cement (Germany),Hewlett Packard Enterprise Company erica (USA),Hilton (USA),Hindustan Zinc Limited (India),Hitachi Construction Machinery Co. LTD (Japan),HK Electric Investments in Hong Kong (China),Host Hotels & Resorts,Inc. (USA),HP Hewlett Packard (USA),HUBER+SUHNER Group (Switzerland),Husqvarna AB (Sweden),Iberdrola SA (Spain),ICA Gruppen (Sweden),IKEA (Sweden),Informa plc (United Kingdom),Ingersoll-Rand Co. Ltd. (Ireland),International Flavors & Fragrances Inc. (USA),International Post Corporation (Belgium),Intuit United States of America (USA),Investa (Australia),Iron Mountain (USA),Japan Tobacco Inc. (Japan),KAO Corporation (Japan),Kawasaki Kisen Kaisha Ltd. (Japan),Kellogg Company (USA),Kering (France),Kesko Corporation (Finland),Kilroy Realty Corporation (USA),Kingfisher (UK),Kingspan Group Plc (Ireland),Kirin Holdings Co Ltd (Japan),Komatsu Ltd. (Japan),Konica Minolta Inc. (Japan),Koninklijke KPN NV (Netherlands),KYOCERA Corporation (Japan),Landsec United Kingdom (UK),Las Vegas Sands (USA),Legrand (France),Levi Strauss & Co. (USA),Lidl Belgium GmbH. & Co. KG (Belgium),LITE-ON technology corp. Taiwan Province of (China),LIXIL Group Corporation (Japan),L'Oréal (France),Lundbeck A/S (Denmark),Magyar Telekom Plc. (Hungary),Mahindra Sanyo Special Steel (India),Marks & Spencer (UK),Mars (USA),MARUI GROUP CO. LTD. (Japan),MasterCard (USA),McDonald’s Corporation United (USA),Millennium & Copthorne Hotels plc. (UK),MITSUBISHI ESTATE CO.,LTD. (Japan),Morgan Sindall Group plc (UK),Multiplex Construction Europe (UK),Muntons United Kingdom (UK),Nabtesco Corporation (Japan),NEC Corporation (Japan),Nestlé (Switzerland),New Zealand Post (New Zealand),News Corp (USA),Nippon Yusen Kabushiki Kaisha (Japan),Nokia Oyj (Finland),Nomura Research Institute Ltd. (Japan),Novartis (Switzerland),Novo Nordisk A/S (Denmark),NRG Energy Inc (USA),Origin Energy (Australia),Orkla ASA (Norway),Ørsted (Denmark),Österreichische Post AG (Austria),Outokumpu Oyj (Finland),Outotec Oyj (Finland),Panalpina Welttransport Holding AG (Switzerland),Panasonic Corporation (Japan),PepsiCo,Inc. (USA),Pfizer Inc. (USA),Philip Morris International (USA),PostNL (Netherlands),PostNord AB (Sweden),Procter & Gamble Company (USA),Prologis (USA),Proximus (Belgium),Pukka Herbs (UK),PUMA SE (Germany),Red Electrica de España (Spain),Ricoh Co. Ltd. (Japan),Royal BAM Group (Netherlands),Royal DSM (Netherlands),Royal Philips (Netherlands),SAP SE (Germany),Schreiber Foods (USA),Seiko Epson Corporation (Japan),SEKISUI CHEMICAL CO. LTD (Japan),Sekisui House LTD (Japan),Seventh Generation,Inc. (USA),SGS SA (Switzerland),Sibanye-Stillwater (South Africa),SIG Combibloc (Switzerland),Signify (Netherlands),Singapore Telecommunications Limited (Singapore),Skunkfunk (Spain),SKYCITY Entertainment Group Limited (New Zealand),SOK Corporation (Finland),Sony Corporation (Japan),Sopra Steria Group (France),Stanley Black & Decker (USA),Stora Enso (Finland),SUEZ (France),SUMITOMO CHEMICAL Co. Ltd. (Japan),Sumitomo Forestry Co. Ltd (Japan),Suntory Beverage & Food Limited (Japan),Suntory Holdings Limited (Japan),Swedish Match (Sweden),Swisscom (Switzerland; Symantec Corporation (USA),Symrise AG (Germany),Taisei Corporation (Japan),Taiwan Mobile Co. Ltd Taiwan Province of (China),Target Corporation United States of America (USA),Tech Mahindra (India),TELEFÓNICA (Spain),Tennant Company United States of America (USA),Tesco United Kingdom (UK),TETRA PAK (Sweden),Thalys (Belgium),The Co-operative Group Ltd. (UK),The HAVI Group,LP (USA),The Martin-Brower Company L.C.C. (USA),thinkstep Australasia (New Zealand),T-Mobile US,Inc. (USA),TODA Corporation (Japan),TOPPAN PRINTING CO. LTD. (Japan),Tyson Foods,Inc. (USA),UBM plc (UK),Unicharm Corporation (Japan),Unilever plc (UK),USHIO INC. (Japan),Vasakronan AB (Sweden),Verbund AG (Austria),VIÑA CONCHA Y TORO (Chile),Wal-Mart Stores,Inc. (USA),Wipro (India),YKK AP Inc. (Japan)

Business organisations 0
Research and educational organisations 0
Non-governmental organisations 0
National states 0
Governmental actors 0
Regional / state / county actors 0
City / municipal actors 0
Intergovernmental organisations 0
Financial Institutions 33 ACTIAM (Netherlands),  Allianz Investment Management (Germany),  Australian Ethical Investment (Australia),  AXA Group (France),  BanColombia (Colombia),  Bank Australia (Australia),  Bank J. Safra Sarasin (Switzerland),  BBVA (Spain),  BNP Paribas (France),  Capitas Finance (United Kingdom),  Commercial International Bank Egypt (Egypt),  Credit Agricole (France),  DGB Financial Group (Republic of Korea),  Grant Thornton UK (United Kingdom),  Grupo Financiero Banorte SAB de CV (Mexico),  HSBC Holdings (United Kingdom),  ING Group (Netherlands),  KLP (Norway),  La Banque Postale Asset Management (France),  London Stock Exchange (United Kingdom),  Mahindra & Mahindra Financial Services (India),  MetLife (USA),  MS&AD Insurance Group Holdings (Japan),  Principal Financial Group (USA),  Raiffeisen Bank (Austria),  Societe Generale (France),  Sompo Holdings (Japan),  Standard Chartered (United Kingdom),  T.GARANTİ BANKASI A.Ş. (Turkey),  T.SINAİ KALKINMA BANKASI A.Ş. (Turkey),  Teachers Mutual Bank (Australia),  Tokio Marine Holdings (Japan),  Westpac Banking Corporation (Australia).
Other members 0
Supporting partners 5 CDP (United Kingdom),  UN Global Compact (USA),  World resources Institute (USA),  WWF (USA).
Number of members in the years
2015
9
2016
30
2017
88
2018
163
2019
237
Have only national states as participators No


Theme

Transport Agriculture Forestry Business Financial institutions Buildings Industry Waste Cities and subnational governments Short Term Pollutants International maritime transport Energy Supply Fluorinated gases Energy efficiency Renewable energy Supply chain emission reductions Adaptation Other Resilience Innovation Energy Access and Efficiency Private Finance
No No No Yes No No No No No No No No No No No No No No No No No No
Last update: 28 October 2019 09:22:56

Not only have national states as participators