Tuesday 15 September 2020

SBTi to develop ‘world’s first’ global science-based standard for corporate net zero targets

SBTi to develop ‘world’s first’ global science-based standard for corporate net zero targets

The Science-Based Targets (SBTi) initiative has launched a new process to develop the first science-based standard for corporate net zero targets.

The new framework highlights the need for corporate strategies that are informed by climate science to ensure action will be taken to achieve net zero by no later than 2050.

For a corporate net-zero target to be science-based, two conditions must be met, according to the SBTi.

Firstly, it must lead to decarbonisation consistent with the cut in emissions needed in the global economy to limit warming to 1.5°C and secondly, it must neutralise the impact of any sources of residual emissions that cannot be eliminated by permanently removing an equivalent amount of atmospheric carbon dioxide.

The SBTi also notes that companies can choose carbon offsetting but this does not mean there is no need for a science-based reduction in emissions, which must remain a priority for companies.

Alberto Carrillo Pineda, a report Author and Director of Science-Based Targets at CDP, one of the SBTi partners, said: "Alongside long-term ambition we need to see aggressive emissions reductions in line with climate science, now, and across all sectors of the global economy."

Nigel Topping, UK High-Level Climate Action Champion for COP26, commented: "Ambition is growing, and as we ramp up our collective efforts to deliver on the Paris Agreement, we must unite behind science to guide our action. That means a robust and science-based understanding of what net-zero means, and what needs to happen in order to get there."

Written by

Bruna Pinhoni

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