Science Based Targets initiative (SBTi) Consultation
On September 22, 2020, China announced its commitment to enhancing its nationally determined contributions, adopting more robust policies and measures, and striving to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060. This represents a higher goal set by China on the basis of its commitment to the Paris Agreement, regarding the timing of peaking carbon emissions and achieving long-term carbon neutrality. China is also the first developing country among the major emitters globally to set a deadline for achieving carbon neutrality.
The Science Based Targets initiative (SBTi) is a global initiative launched jointly by the World Wide Fund for Nature (WWF), the Carbon Disclosure Project (CDP), the World Resources Institute (WRI), and the United Nations Global Compact (UNGC). It is part of the We Mean Business Coalition, a global business climate alliance. The Science Based Targets aim to help enterprises set scientifically grounded carbon reduction targets in line with a decarbonization pathway consistent with limiting global warming to two degrees Celsius. The initiative strives to make setting science-based carbon reduction targets the norm in business practice.
Setting science-based carbon targets not only contributes to keeping global average temperature rise below 2 degrees Celsius but also brings positive impacts to businesses and their value chains. Among the list of enterprises that have already set ambitious science-based carbon targets are many well-known brands and industry leaders, such as Walmart, Dell, HP, P&G, Coca-Cola, and others.
▶The initiative drives climate action among businesses and encourages enterprises from all sectors to demonstrate their leadership by setting science-based emission reduction targets. ▶It encourages the participation of high-emission industries to ensure a low-carbon transition of the economy. ▶The initiative's participants do not include cities, local governments, government agencies, educational institutions, or other types of non-profit organizations. However, these institutions are encouraged to refer to the methodology for setting science-based targets when developing greenhouse gas reduction targets. •Enhances business resilience and improves market competitiveness. •Drives innovation and transforms business practices. •Enhances corporate credibility and reputation. •Builds an internationally recognized framework, leading the industry forefront.SBTi Targets Audience
Benefits of Setting SBTi Targets
The Leverage service team will conduct on-site investigations for enterprises, guide them in completing the greenhouse gas inventory, establish science-based targets, and complete the target declaration. Specific tasks include:
