Science Based Targets initiative

📢 LAUNCHED TODAY! 📢 The SBTi has released our Monitoring Report 2023, showcasing significant milestones in global corporate climate action. The report finds continued growth across key metrics including global growth of companies with validated targets, market cap penetration and global reach. Key findings include: ↗ The number of companies with science-based targets increased by 102% in 2023, driven notably by robust expansion in Asia. 🗾 Japan emerged as the global leader in science-based target setting, surpassing the UK and US with a total of 768 companies with validated targets. 🌏 India experienced a 520% increase in companies setting science-based targets in 2023 compared to 2022. 📈 Companies with validated targets or commitments reached 39% of the global market cap, increasing two percentage points from 2022. 💊 The biotech, healthcare, and pharma sector saw the most substantial growth in target setting, with a 222% increase, while materials industry growth slowed to 41%. Luiz Fernando do Amaral, CEO of SBTi, emphasized the report's findings, stating, "The deepening foothold of the SBTi in global markets, especially the Global South, demonstrates a growing understanding of companies of what is required of them to meet the aims of the Paris Agreement. We must now fight harder than ever to keep those aims alive, so I call on companies everywhere to set targets and report against them as a matter of urgency.” Find out more: https://lnkd.in/eYP7CE3S #SBTiScaleUp #ClimateAction #SBTiProgress

The SBTi wants your feedback on our scope 3 discussion paper! As part of a major revision of our Corporate Net-Zero Standard (CNZS), the SBTi has recently published a scope 3 discussion paper, setting out the challenges and opportunities with scope 3 target setting and to share our initial thinking on potential changes. The paper aims to facilitate stakeholder engagement on the potential changes and to gather feedback around the proposed approach and preliminary options outlined in the paper. This feedback will help inform the development of the CNZS V2.0 public consultation draft. Interested parties have until September 12th 2024, to review the discussion paper and respond via this form: https://lnkd.in/eTumzSzx #SBTiScaleUp #NetZero #sciencebasedtargets

🎯 Looking for an overview of our recently launched SBTi Draft Financial Institutions Net-Zero Standard (FINZ) and want to share your feedback? In  this short video, SBTi Head of Financial Standards Nate Aden and SBTi FINZ Manager Jana Mintenig provide a walkthrough of the draft standard and explain how to get involved via the publication consultation and pilot testing process. 👉 After watching, head over to our website to learn more about FINZ and get involved: https://lnkd.in/gEN65Cb5 #FINZ #NetZero #sciencebasedtargets

📣 Today we’ve published four research outputs as part of the revision of our Corporate Net-Zero Standard. ✅ A Scope 3 discussion paper A discussion paper setting out the SBTi’s initial thinking on potential changes being explored around scope 3 target setting, including underlying principles and concepts. The discussion paper is informative by nature and does not propose draft requirements or criteria. ✅ Evidence received on the effectiveness of Environmental Attribute Certificates The release of all evidence submitted as part of the open call for evidence which ran September to November 2023 on the effectiveness of Environmental Attribute Certificates (without SBTi assessment). ✅ Synthesis report of evidence on the effectiveness of Environmental Attribute Certificates in corporate climate targets – Part 1: Carbon credits A report presenting the SBTi’s synthesis of the evidence submitted through the call for evidence on the effectiveness of carbon credits in corporate climate targets. ⬆ This is the first of the three distinct reports that will be published as outlined in the Terms of Reference; the reports on the other EAC instruments will be published at a later stage. Findings of independent systematic review on the effectiveness of carbon credits in corporate climate targets: A statement on the findings of the assessment conducted by an independent third party on peer-reviewed academic literature on the effectiveness of carbon credits when used as a substitute for direct abatement. The statement summarizes the process followed, findings and limitations of this research exercise. While the evidence submitted and examined reveals some trends and provides insights, the findings of the publications are mixed and further work is needed in the next stage of the process to draw conclusions. The next major step in the revision process will be the publication of the draft Standard for public consultation, which is expected by the end of 2024. We’re encouraging all stakeholders to take part, and we’ll publish a summary of feedback received, respecting data privacy and data protection regulations. Right now we’re also seeking feedback on the scope 3 discussion paper. View the resources and share feedback here: https://lnkd.in/eS5VFcSh #sciencebasedtargets #netzerostandard #netzero

📢 Last call! Only two days left to respond to the public consultation to help shape the SBTi’s Chemical Sector Guidance. We welcome and encourage participation from any interested party in contributing to the consultation. To ensure a balance of input, representatives from academia, NGOs and the Global South in particular are encouraged to participate - so please share this opportunity with your relevant networks. 🗓 The public consultation closes July 31st, 2024 Don’t miss out on this opportunity to have your say in the Chemicals Sector Guidance. 👉 Respond to the public consultation here: https://lnkd.in/ez--xTNx #ScienceBasedTargets #ChemicalsSector #NetZero

🎯 Our target dashboard has been updated! There are now more than 5,795 organizations with validated science-based targets, and over 8,580 with targets or commitments to set them. 🙌 Congratulations to all of these for their commitment to robust, credible action to reduce greenhouse gas emissions! Head to our website for more information about the targets and commitments of all organizations setting science-based targets. 👉 https://lnkd.in/d6-Ef-3J #SBTiScaleup #sciencebasedtargets

In May 2024 we announced the timelines and process for the revision of our flagship Corporate Net-Zero Standard and published its Terms of Reference. The first outputs of this process will be published on Tuesday July 30th, comprising: • A scope 3 discussion paper • Evidence on the effectiveness of Environmental Attribute Certificates submitted as part of the call for evidence which ran from September to November 2023 • Synthesis of the evidence submitted as part of the call for evidence - Part 1: Carbon Credits • Findings of an independent systematic review on the effectiveness of carbon credits in corporate climate targets 👉 Read Chief Technical Officer Alberto Carrillo Pineda's latest blog to learn more: https://lnkd.in/ev6G-xJB #netzero #netzerostandard

🤔Interested in learning more about the public consultation and pilot testing process of the SBTi’s Draft Financial Institutions Net-Zero (FINZ) Standard? Join us August 22nd for a global webinar where you'll have the opportunity to get your questions answered! We’re running two sessions across time zones: ✅Session 1: 10AM CEST / 4PM HKT ✅Session 2: 10AM EDT / 4PM CEST SBTi Head of Financial Standards Nate Aden, FINZ Manager Jana Mintenig, and FI Research Lead Eoin White will provide an overview of the development process, detail the contents of the latest draft and explain how to get involved in the public consultation. 👉Learn more about the Draft FINZ Standard and respond to the public consultation: https://lnkd.in/dbwBQ795 👇Register for the webinar here or through the event below: https://lnkd.in/dwG-3ZJT #FINZ #FinanicalInstitutions #sciencebasedtargets

📢The SBTi is seeking input to help shape the Financial Institutions Net-Zero (FINZ) Standard. We’re calling for experts from the finance sector, academia and civil society worldwide to review and give feedback on the Draft FINZ Standard. Following this public consultation and pilot testing, the SBTi will review and consider the feedback received and make adjustments. The public consultation is open until September 20, 2024. 📢 In addition, we’re hosting a webinar featuring SBTi experts who will provide an overview of the FINZ development process, detail the contents of the latest draft and explain how to get involved in the public consultation. The webinar will be held on August 22, 2024 in two sessions: Session 1: 10AM CEST / 4PM HKT Session 2: 10AM EDT / 4PM CEST Don’t miss this opportunity to play a significant role in the development of this essential standard! 👉Learn more about the Draft FINZ Standard and respond to the public consultation: https://lnkd.in/dbwBQ795 👉Register for the FINZ Webinar: https://lnkd.in/dwG-3ZJT #FINZ #FinanicalInstitutions #sciencebasedtargets

Broken down by sector, our 2023 Monitoring Report found: ✅In 2023, the services and manufacturing sectors led with 741 and 568 companies setting targets respectively, comprising 58% of all companies setting targets that year. ✅Biotech, healthcare and pharma showed remarkable growth, increasing by 222% year on year, from 23 to 74 companies. ✅The materials sector saw a significant shift from previous years, substantial growth in 2022 slowed to a 41% increase in 2023. 👇Check out the graphs below for more information on the growth statistics and number of companies setting science-based targets broken down by sector. 👉Explore the full 2023 Monitoring Report here: https://lnkd.in/gGuUpAYE #SBTiProgress #SBTiScaleUp #sciencebasedtargets