Understanding the Science Based Targets Initiative (SBTi) and Its Importance for Businesses

In today’s rapidly evolving business landscape, sustainability is no longer a mere buzzword; it is a critical priority for organizations worldwide. The Science Based Targets initiative (SBTi) has emerged as a vital framework for companies striving to align their operations with global climate goals. But what exactly is the SBTi, and why should businesses prioritize it?

### What is the Science Based Targets initiative (SBTi)?

The SBTi is a global partnership between CDP, the United Nations Global Compact (UNGC), the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). Its mission is to help businesses set greenhouse gas (GHG) emissions reduction targets that are in line with the latest climate science and the goals of the Paris Agreement. Specifically, these targets aim to limit global warming to well below 2°C above pre-industrial levels, with an emphasis on efforts to cap warming at 1.5°C.

### Why is the SBTi important?

1. Driving Climate Action:

 The SBTi provides companies with a clear pathway to reduce their carbon footprint in alignment with science-based evidence. This ensures that corporate climate actions are both credible and impactful.

2. Enhancing Business Resilience:

By adopting science-based targets, businesses can proactively manage climate-related risks, such as regulatory changes, supply chain disruptions, and shifting market demands. This resilience is crucial for long-term sustainability and profitability.

3. Building Stakeholder Trust:

Stakeholders—including investors, customers, and employees—are increasingly scrutinizing companies’ sustainability efforts. SBTi certification demonstrates a genuine commitment to climate leadership, fostering trust and loyalty.

4. Gaining Competitive Advantage:

Companies that embrace science-based targets often gain a competitive edge by staying ahead of regulatory requirements, attracting eco-conscious consumers, and improving operational efficiencies.

### Key Steps to Set Science-Based Targets

1. Commit:

Sign the SBTi commitment letter to signal your organization’s intent to set a science-based target.

2. Develop:

Create a detailed emissions reduction target that aligns with SBTi criteria and the latest climate science.

3. Submit for Validation:

 Submit your proposed target to the SBTi for an independent validation process.

4. Communicate:

Publicly announce your science-based target and integrate it into your broader sustainability strategy.

5. Disclose and Monitor:

Regularly report your progress and recalibrate your targets as necessary to remain aligned with evolving climate science.

### The Path Forward

The SBTi is not just about compliance; it’s about transforming business operations to thrive in a low-carbon economy. By adopting science-based targets, companies can play a pivotal role in mitigating climate change while securing their own futures.

For businesses yet to embark on this journey, now is the time to act. The climate clock is ticking, and the SBTi offers a powerful framework to make a tangible difference.

The Science Based Targets initiative is a game-changer for businesses committed to sustainability. By aligning corporate goals with the latest climate science, companies can drive meaningful climate action, enhance resilience, and unlock new opportunities. As more organizations step up, the collective impact can pave the way for a more sustainable future for all.

For more information on how Intertek can help visit: Science-based Target Services for the Reduction of Greenhouse Gas Emissions