- The recent meeting of major financiers and supporters of the carbon offsets market in London prompted worries about the Science Based Targets initiative’s (SBTi) role in constraining market growth.
- SBTi’s severe standards for net-zero plans have made it the gold standard in emissions accountability, but some say that they limit the effectiveness of carbon offsets in fighting climate change.
What is the Science-Based Targets Initiative (SBTi)?
- The SBTi is a collaborative project led by four international organisations.
- Carbon Disclosure Project (CDP),
- United Nations Global Compact (UNGC),
- World Resources Institute (WRI), and
- World Wide Fund for Nature (WWF).
- The SBTi aims to assist businesses in setting ambitious and scientifically sound greenhouse gas (GHG) emission reduction targets.
| Details | |
| Purpose | To motivate aggressive business action on climate change by offering a framework for establishing science-based targets that are consistent with the Paris Agreement goals. |
| Launch Year | 2015 |
| Founding Organizations | Carbon Disclosure Project (CDP),United Nations Global Compact (UNGC),World Resources Institute (WRI), andWorld Wide Fund for Nature (WWF). |
| Methodologies | SBTi provides principles and methodology for businesses to set targets that are compatible with the most recent climate research and help to minimise global warming. |
| Global Reach | Engages with businesses worldwide, partnering with partners from many sectors, regions, and industries to encourage the adoption of science-based goals. |
| Recognition | Recognised as a major forum for corporate climate action, companies commit to setting science-based targets and reducing greenhouse gas emissions.Updates and refines its techniques and verification processes to match improvements in climate science and best practices for reducing emissions. |
Source: https://sciencebasedtargets.org/