Science-based targets provide companies with a clearly defined pathway to sustainable growth by specifying how much and how quickly they need to reduce their greenhouse gas emissions.
What is a Science Based Target (SBT)?
Targets adopted by companies to reduce greenhouse gas (GHG) emissions are considered “science-based” if they are in line with the level of decarbonization required to keep global temperature increase below 2 degrees Celsius compared to pre-industrial temperatures. Adopting science-based targets is highly encouraged by reporting institutions including CDP and the Task Force for Climate-related Financial Disclosures.
Overview of the General SBT Requirements
Select a base year and a target year.
Cover a minimum of 5 years and a maximum of 15 years from the date the target is publicly announced
Long-term targets (greater than 15 years) with interim targets set at every 5 years are encouraged
Develop a GHG inventory
Scopes 1 and 2
Boundaries are aligned with the GHG inventory
Follow the 2 degrees C decarbonization pathway
Cover at least 95% of company-wide scope 1 and 2 emissions
Required if scope 3 emissions comprise 40% or more of an organization’s total emissions
Boundaries are aligned with the GHG inventory and include the majority of value chain emissions
Target does not need to be science-based, but must be ambitious and measurable and integrate current best practices
SBTs exclude offsets and avoided emissions
How can we help?
The IERS team offers strategic quantification and advisory services to companies seeking to develop a science-based target. We will work with you to develop targets that align with the Science Based Target Initiative guidelines.