Science Based Targets Initiative

Definition

The Science Based Targets Initiative (SBTi) is a global body that helps companies set greenhouse gas emissions reduction targets in line with the latest climate science. By providing a framework for businesses to establish targets that are consistent with limiting global warming to well below 2 degrees Celsius, it promotes accountability and transparency in corporate sustainability efforts. This initiative emphasizes the importance of aligning business strategies with climate goals to enhance resource consumption efficiency and sustainability.

5 Must Know Facts For Your Next Test

1. The SBTi was launched in 2015 as a partnership between CDP, the United Nations Global Compact, World Resources Institute, and WWF.
2. Companies that set science-based targets are more likely to demonstrate leadership in sustainability and attract investment from socially responsible investors.
3. The initiative provides resources and tools for businesses to measure their carbon footprint and develop actionable plans for emissions reduction.
4. By 2023, thousands of companies globally have committed to science-based targets, reflecting a growing trend in corporate accountability for climate action.
5. The SBTi ensures that targets are set based on climate science, meaning companies are encouraged to reduce their emissions in alignment with the Paris Agreement goals.

Review Questions

• How does the Science Based Targets Initiative influence corporate behavior regarding emissions reductions?
  • The Science Based Targets Initiative influences corporate behavior by providing a structured framework for businesses to set ambitious greenhouse gas emissions reduction targets based on the latest climate science. By committing to science-based targets, companies demonstrate accountability and enhance their sustainability practices. This initiative encourages businesses to align their operations with global climate goals, fostering a culture of responsibility towards resource consumption and long-term environmental sustainability.
• Evaluate the role of science-based targets in promoting sustainability within corporations and its potential impact on resource consumption.
  • Science-based targets play a crucial role in promoting sustainability within corporations by establishing clear benchmarks for emissions reductions that align with scientific recommendations. By committing to these targets, companies not only enhance their operational efficiencies but also reduce waste and optimize resource consumption. The adoption of such measures can lead to more sustainable business practices, ultimately benefiting both the environment and the bottom line.
• Assess the long-term implications of widespread adoption of science-based targets among businesses on global climate change efforts.
  • The widespread adoption of science-based targets among businesses could have profound long-term implications for global climate change efforts. If companies across various sectors commit to ambitious emissions reduction strategies aligned with climate science, it could significantly lower overall greenhouse gas emissions. This collective action would support international climate goals set forth in agreements like the Paris Agreement, fostering a collaborative environment where sustainable practices become the norm rather than the exception. The result could be a more resilient planet capable of sustaining future generations.

Related terms

Greenhouse Gas Emissions: Gases that trap heat in the atmosphere, including carbon dioxide, methane, and nitrous oxide, which are major contributors to climate change.

Corporate Social Responsibility (CSR): A business model in which companies integrate social and environmental concerns in their operations and interactions with stakeholders.

Net Zero: The goal of balancing the amount of greenhouse gases emitted with the amount removed from the atmosphere, effectively reducing emissions to zero over time.