UPDATED SBTi Insider July 2024
Science Based Targets initiative
Enabling organizations to take swift climate action by setting ambitious emissions reduction targets.
Correction:
The July newsletter you received contained an error. Please disregard it and see below updated newsletter.
Leadership Transition
The Science Based Targets initiative (SBTi) announces that Dr Luiz Fernando do Amaral has informed the Board of the SBTi of his intention to step down from his role as CEO for personal reasons.
Susan Jenny Ehr, currently Chief Legal Officer, will step in as interim CEO, with dedicated support by the Board. The decision will take effect at the end of July and Dr Amaral will support the changeover of leadership. A recruitment process for a permanent CEO has started.
On behalf of the SBTi Board, Chair Francesco Starace highlighted Dr Amaral’s leadership and contribution to the growth and development of the organization.
102% increase in the number of companies with science-based targets, fueled by growth in Asia
The SBTi Monitoring Report 2023 reaffirmed the continued global growth of science-based targets. It found that the total number of companies with science-based targets increased by 102% during 2023 alone compared to all previous years, fueled by strong growth in Asia. 113% more companies set targets during 2023 than in 2022.
This continued growth across key metrics including market cap penetration and global reach underscores the importance of our ongoing scale-up and evolution to becoming a voluntary standard-setter, as announced in September 2023.
Updates and News
In this blog, SBTi Chief Technical Officer and Co-Founder Alberto Carrillo Pineda explores the fundamental concept of standard-setting and the pivotal role it can play in driving corporate climate action.
Recommended by LinkedIn
In this blog, Brenda Chan , Technical Manager at the SBTi and co-author of the Steel Science-Based Target-Setting Guidance, highlights the significance of the first steel company 1.5°C science-based targets validated following this guidance.
In this blog, Alberto Carrillo Pineda, SBTi’s Chief Technical Officer, outlines the eight stages of our Standard Operating Procedure for the Development of SBTi Standards which ensures our approach is in line with best practice for standard-setting organizations.
Events and Opportunities
We are calling for experts to participate in the development of the Chemicals Sector Guidance through a public consultation. Those interested should submit feedback by July 15, 2024.
We are seeking experts to act in an advisory capacity to support the development of priority projects including the automotive and power sectors. Those interested should apply by July 17, 2024.
Noteworthy News
edie | July 1
“The SBTi Monitoring Report 2023 recorded a 102% increase in companies setting science-based targets in 2023 alone compared to all the years since the initiative’s inception.”
GreenBiz | June 12
“The Science Based Targets initiative will require banks and other financial institutions setting science-based targets for emissions reductions to phase out most coal-related activities by 2030.”