What is science-based targets

Science-based targets are a set of clear goals developed by a business to set carbon footprint reductions at the right level to keep Global temperature changes to less than 2^oC, as described in the 5th report of the IPCC (Intergovernmental Panel on Climate Change).

To enable leading companies setting ambitious and meaningful science-based targets, the Science-based Targets initiative (SBTi), a joint initiative of CDP, the UN Global Compact (UNGC), World Resources Institute (WRI) and WWF.

As of now over 400 companies have committed to the Science-Based Targets Initiative (SBTi), a joint venture between CDP, WRI, WWF and UN Global Compact.

Why set science-based targets for your business?

Setting science-based targets for your business offer multiple benefits viz.

• Identify threats and opportunities of climate change on your business
• Develop a long-term sustainability vision for your company beyond the short-term GHG emissions reductions goals
• Accelerate emissions reduction through low-carbon innovations and technologies
• Cost reduction in energy and for any carbon taxes your company is liable to pay
• Be ahead of the industry peers in terms of legislative and sustainability activities
• Enhance positive reputation as healthy well managed business with investors and customers

How to set science-based targets for your business?

SBTi provides three science-based target (SBT) setting approaches-

1.  Sector-based approach: Based on sector-specific carbon budget (global carbon budget divided by sector) and determined by mitigation/technology options and activity projections.
2. Absolute-based approach: Based on absolute emissions reductions determined in climate reports (e.g. IPCC 5th AR) and is assigned to individual companies.
3. Economic-based approach: Based on the average emissions reductions determined in climate reports per projected economic output(companies’ gross profits worldwide equate to global GDP). 

You can set targets based on any one of the above approaches.

How can we help you to set a science-based target for your business?

We help you to incorporate emissions reduction targets into your business strategies to ensure your actions are aligned with current climate science and practices.

• Assess SBTi requirement specific to your business
• Conduct feasibility of setting a science-based target and identify a targeting approach that's right for you
• Setup organisational boundaries for measuring GHG emission (Scope-1,2 and 3)
• Develop templates and tools for collection of GHG emission data
• Assess climate change risks and opportunities for your business
• Calculate and confirm your science-based target
• Provide training to your employee implementing SBTs in your company
• Keep you aligned with recent SBTi development related to your industry

For a customized solution for your project, please mail us connect@everainglobal.com or call us +91-09999677158/9 with your specific requirements and we'll be happy to get back and discuss your project in detail.