Science Based Targets initiative

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General

Name of initiative Science-Based Targets Initiative
LPAA initiative Yes
NAZCA Initiative Yes
Website address http://sciencebasedtargets.org/
Related initiatives
Starting year
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

Function of initiative Implementation, Technical dialogue
Activity of initiative Goal setting (ex-ante), Knowledge dissemination and exchange, Technical operational implementation (ex-post)
Indicators
Goals
Comments on indicators and goals
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 we announced 118 companies committed to set a SBT with 7 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.

Now (Nov. 8) 193 companies have committed.

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 0  
Companies 0
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 0
Faith based organisations 0
Other members 0
Supporting partners 0
Number of members in the years
2015
9
2016
30
2017
88
2018
163
2019
237
2020
1146
2022
1356
Have only national states as participators


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: 16 February 2023 15:20:11

Not only have national states as participators