Science_Based_Targets_initiative

Science Based Targets initiative

Science Based Targets initiative

International climate change collaboration

The Science Based Targets initiative (SBTi) is a collaboration between the CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), with a global team composed of people from these organisations.[1] Since 2015, more than 1,000 companies have joined the initiative to set a science-based climate target.[2]

Quick Facts Established, CEO ...

Organization

The Science Based Targets initiative was established in 2015 [3] to help companies to set emission reduction targets in line with climate sciences[4] and Paris Agreement goals.[5] It is funded by IKEA Foundation, Amazon, Bezos Earth Fund, We Mean Business coalition, Rockefeller Brothers Fund and UPS Foundation.[6] In October 2021, SBTi developed and launched the world's first net zero standard, providing the framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.[7][8] Best practice as identified by SBTi is for companies to adopt transition plans covering scope 1, 2 and 3 emissions, set out short-term milestones, ensure effective board-level governance and link executive compensation to the company's adopted milestones.[3]

Sector-specific guidance

SBTi developed separate sector-specific methodologies, frameworks and requirements for different industries. As of April 2024, sector guidance[9] is available for:

Controversy

In April 2024 the SBTi Board of Trustees released a statement[10] setting out an intention to permit the use of environmental attribute certificates (EACs) for abatement purposes against Scope 3 emissions reduction targets. SBTi did not previously permit the use of EACs due to the difficulties faced in tracing, measuring and validating their impact.[11]

Standards setting organizations (SSOs) who do not follow a consensus model or the WTO principles for international standards development[12] are vulnerable to lobbying from corporations, especially when they are reliant on their funding. One of the SBTi funders, the Bezos Earth Fund exerted influence on SBTi board members to relax their position on carbon offsets.[13] The statement led to a response letter[14] signed by various teams within the SBTi and media speculation about the policy change. The counter argument being that carbon offsets are incompatible with the Paris Agreement.[15]

Launched in September 2022, the SBTi's Forestry, Land and Agriculture (FLAG) guidance[16] allows companies to claim the achievement of their emission reduction targets through ‘insetting’, breaking from the long-held SBTi position that emission reduction targets should only be achieved through emission reductions.[17] Insetting is a business-driven concept and not a term defined in international standards and guidelines such as ISO 14050 Environmental Vocabulary and IWA 42 Net zero guidelines.[18]

See also

References

  1. [1]
    Science Based Targets, Partner organizations, accessed 2 December 2021
  2. [2]
    "30+ target-setting firms reduce emissions by a quarter in five years".
  3. [3]
    Real Sustainability, Science Based Targets for Financial Institutions, accessed 2 December 2021
  4. [4]
    "Set Science-Based Emission Reduction Targets".
  5. [5]
    "Lead the way to a low-carbon future".
  6. [6]
    "Funders".
  7. [7]
    "SBTi Launches World-First Net-Zero Corporate Standard".
  8. [8]
    "For corporate net zero targets, focus on the big picture".
  9. [9]
    "Sector-specific projects". sciencebasedtargets.org. Science Based Targets Initiative (SBTi).
  10. [10]
    "Statement from the SBTi Board of Trustees on use of environmental attribute certificates, including but not limited to voluntary carbon markets, for abatement purposes limited to scope 3". Science Based Targets initiative. 9 April 2024. Retrieved 18 April 2024.
  11. [11]
    Greenfield, Patrick (2023-01-18). "Revealed: more than 90% of rainforest carbon offsets by biggest certifier are worthless, analysis shows". The Guardian. ISSN 0261-3077. Retrieved 2024-04-18.
  12. [12]
    "Principles for the Development of International Standards, Guides and Recommendations". wto.org. World Trade Organization (WTO).
  13. [13]
    Suppan, Steve. "Science Based Targets Initiative board undermines integrity of its corporate climate standard". iatp.org. The Institute for Agriculture and Trade Policy (IATP). Retrieved 22 April 2024.
  14. [14]
    "Read the leaked protest letter from SBTi staff angry over new carbon offset policy | GreenBiz". www.greenbiz.com. Retrieved 2024-04-18.
  15. [15]
    Cullenward, Danny; Badgley, Grayson; Chay, Freya (September 15, 2023). "Carbon offsets are incompatible with the Paris Agreement". One Earth. 6 (9): 1085–1088. doi:10.1016/j.oneear.2023.08.014.
  16. [16]
    "Forests, Land and Agriculture". Science Based Targets. Retrieved 2024-04-23.
  17. [17]
    "Corporate Climate Responsibility Monitor 2023". newclimate.org. The New Climate Institute.
  18. [18]
    "Net Zero Guidelines". iso.org. International Organization for Standardization.
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