Science Based Targets
Setting Science Based Targets
TZC’ experts have been working with our clients on their greenhouse gas (GHG) accounting, reporting and target-setting since the inception of the European Emission Trading Scheme (EU ETS). TZC’ experts support and guide our clients through the Science-Based Target (SBT) setting process
Typically, establishing GHG emissions reductions targets which were appropriate was a challenging objective. In 2015, the Science-Based Targets Initiative (SBTi) formalised the process for establishing targets that align organisational targets which are based in science. The SBTi programme encourages companies to set GHG targets in alignment with a 1.5°C or well below 2°C scenario – offering organisations flexibility while maintaining global temperatures.
Today, SBTs should play a significant role in every organisation – and the increase in companies adopting SBTs demonstrates that we are all becoming more climate focused. The SBT initiative is only gaining momentum, with more organisations joining the initiative annually.
TZC’ experts utilize our extensive GHG expertise and industry knowledge to help companies navigate the process of establishing SBTs including committing, evaluating, setting, and pursuing Science-Based Targets — across all GHG scopes (1, 2 and 3) – from the initial steps to submitting for SBTi validation and establishing GHG emissions reduction strategies, the TZC team will support your organisation.
How TZC help you setting SBT's
As a leading sustainable business consulting firm, TZC’ consultants have over 20 years’ experience in GHG accounting and emissions reduction strategy development and implementation, all built on the foundation of industry experience.
From large multinational companies to boutique enterprises, TZC has supported companies through the process of establishing, setting and achieving ambitious climate goals on a schedule and timeline that works well for them.
Our team supports your organisation throughout your SBT process – whether that’s providing initial support or leading the evaluation of SBT options and submission of the Science-Based Targets Initiative (SBTi) validation form.
Our team supports you throughout the SBTi process, from initial assessment to opportunity implementation we are there;
- Scopes 1 & 2 inventory assessments,
- Scope 3 screening and/or inventory assessments,
- Data acquisition & management,
- SBT feasibility assessment,
- SBT target-setting,
- SBTi validation form submission,
- Identify and evaluate emissions reduction initiatives,
- GHG reduction roadmaps & strategy.
Frequently Asked Questions
Science-Based Targets (SBTs) are GHG emissions reduction targets which are developed at an organisational level in alignment with the Paris Agreement (e.g., limiting global warming to 1.5°C or well below 2°C scenario relative to pre-industrial levels). SBTs contribute to the development of a long term organisational roadmap (5 – 15 years) which inform the GHG reduction efforts of the organisation. GHG scopes 1 and 2 are included for all companies, and the majority of companies will also be required to include scope 3 in the SBT target boundary.
Science-Based Targets (SBTs) create emission reduction objectives within the organisation that are ambitious, standardised and in accordance with the Paris Agreement. Currently, organisations which are sustainability leaders are adopting and setting SBTs, leading the transition towards a net-zero economy. As consumers become more climate aware, SBTs are rapidly transitioning from “above and beyond” to an expectation for investors, customers, employees, and other stakeholders, and are becoming commonplace is ESG reporting and rating frameworks.
The SBTi is a partnership between CDP (formally, the Carbon Disclosure Project), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) formed to drive climate action in the private sector. SBTi manages the guidance documents and methodologies for setting SBTs and are responsible for reviewing and validating company’s SBTs.
Carbon Neutrality refers to the achievement of net-zero carbon emissions (i.e. balancing emissions of carbon dioxide with its removal), whereas SBTs commit to reducing emissions in accordance with the latest climate science. Although SBTs are often considered as a stepping stone to Carbon Neutrality, achieving accreditation/verification for each are often different.
In the majority of cases, yes. If your scope 3 emissions accounts for more than 40% of your total emissions, SBTi requires its inclusion to the target boundary for your SBTs. Over 90% of companies with SBTs include scope 3 emissions in their target boundary. There are a number of options in terms of establishing scope 3 targets, the suitability of which must be evaluated within the context of your organisation. The initial action for each organisation is to understand your scope 3 emissions profile through an initial assessment and screening process in order to establish the relevant categories for your organisation.
The process defined by SBTi for setting Science-Based Targets consists of five steps:
- Submission of a commitment letter to set a SBT or to have existing targets verified,
- Development of a target in line with the latest climate science,
- Submission of target for validation,
- Announcement of target to your stakeholders,
- Reporting on progress towards your target over time.
TZC works with you throughout this process, in parallel to conducting GHG inventories prior to the SBT commitment, and particularly in establishing an emissions reduction strategy in the process of setting SBTs.
Yes, the SBTi is in the process of developing sector-specific guidance for a range of industries and sectors.
Please contact us to find out more about how your organisation can adopt SBTs.
Alternatively, you can visit SBTi website here.
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