The Science Based Targets initiative (SBTi) is a collaboration between the CDP (was Carbon Disclosure Project), the

United Nations Global Compact The United Nations Global Compact is a non-binding United Nations pact to encourage businesses and firms worldwide to adopt sustainable and socially responsible policies, and to report on their implementation. The UN Global Compact is a princ ...

World Resources Institute The World Resources Institute (WRI) is a global research non-profit organization established in 1982 with funding from the MacArthur Foundation under the leadership of James Gustave Speth. WRI's activities are focused on seven areas: food, fo ...

(WRI) and the

World Wide Fund for Nature The World Wide Fund for Nature Inc. (WWF) is an international non-governmental organization founded in 1961 that works in the field of wilderness preservation and the reduction of human impact on the environment. It was formerly named the Wor ...

(WWF). Since 2015 more than 1,000 companies have joined the initiative to set a science-based climate target.

Organization

The Science Based Targets initiative was established in 2015 Real Sustainability
Science Based Targets for Financial Institutions
accessed 2 December 2021 to help companies to set emission reduction targets in line with climate science and Paris Agreement goals. It is funded by

IKEA Foundation The Stichting IKEA Foundation (KvK 41202422) is a Dutch foundation founded in 1982 by Ingvar Kamprad, a Swedish billionaire and founder of IKEA. The foundation receives its income from the Stichting INGKA Foundation. Initially focused on architec ...

Amazon Amazon most often refers to: * Amazons, a tribe of female warriors in Greek mythology * Amazon rainforest, a rainforest covering most of the Amazon basin * Amazon River, in South America * Amazon (company), an American multinational technolog ...

, Bezos Earth Fund, We Mean Business coalition,

Rockefeller Brothers Fund The Rockefeller Brothers Fund (RBF) is a philanthropic foundation created and run by members of the Rockefeller family. It was founded in New York City in 1940 as the primary philanthropic vehicle for the five third-generation Rockefeller brothe ...

and

UPS Foundation UPS or ups may refer to: Companies and organizations * United Parcel Service, an American shipping company ** The UPS Store, UPS subsidiary ** UPS Airlines, UPS subsidiary * Underground Press Syndicate, later ''Alternative Press Syndicate'' ...

. In October 2021 SBTi developed and launched the world's first

net zero Carbon neutrality is a state of net-zero carbon dioxide emissions. This can be achieved by balancing emissions of carbon dioxide with its removal (often through carbon offsetting) or by eliminating emissions from society (the transition to the ...

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. 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 Executive compensation is composed of both the financial compensation (executive pay) and other non-financial benefits received by an executive from their employing firm in return for their service. It is typically a mixture of fixed salary, variab ...

to the company's adopted milestones.

Sector-specific guidance

SBTi developed separate sector-specific methodologies, frameworks and requirements for different industries. As of December 2021, guidance is available for: *

Aviation Aviation includes the activities surrounding mechanical flight and the aircraft industry. ''Aircraft'' includes fixed-wing and rotary-wing types, morphable wings, wing-less lifting bodies, as well as lighter-than-air craft such as hot ...

* Apparel and footwear *

Financial institution Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial inst ...

s *

Information and Communication Technology Information and communications technology (ICT) is an extensional term for information technology (IT) that stresses the role of unified communications and the integration of telecommunications (telephone lines and wireless signals) and computers ...

References

{{Reflist Corporate social responsibility Environmental science Greenhouse gases Greenhouse gas emissions Organizations established in 2015

Organization

Sector-specific guidance

See also

References