The Paris Agreement, which was signed in 2015, is a groundbreaking international agreement that aims to reduce global greenhouse gas emissions and limit global temperature increase to well below 2 degrees Celsius above pre-industrial levels. To achieve these goals, countries must set ambitious targets for reducing emissions and work together to implement strategies to achieve them. One tool that many businesses and organizations are using to help them meet their emission reduction goals is the Science Based Targets initiative (SBTi).
The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute, and WWF. The initiative helps companies set science-based targets that are aligned with the goals of the Paris Agreement. The targets are based on the latest climate science and are designed to ensure that emissions are reduced in a way that is consistent with the goal of limiting global temperature increase to well below 2 degrees Celsius.
The SBTi has already helped over 1,000 companies set science-based targets, including major corporations like Coca-Cola, Nestle, and HP. And in 2018, the initiative launched a new campaign to encourage even more companies to commit to setting science-based targets.
The benefits of setting science-based targets are clear. By aligning their emissions reductions with the Paris Agreement, companies can help to accelerate the transition to a low-carbon economy. They can also reduce their exposure to climate risks and improve their reputation with customers and investors who are increasingly demanding action on climate change.
But setting science-based targets is not just good for business. It is also critical for achieving the goals of the Paris Agreement. With global emissions still on the rise, it is more important than ever that businesses and organizations take action to reduce their emissions and help to limit global temperature increase.
The SBTi is an important tool for helping companies to do their part in the fight against climate change. By committing to science-based targets, businesses can help to create a more sustainable future for all.
