Is the new Science Based Target initiative Net-Zero Standard the right path for your organization?
Since its launch on Oct 28th, the SBTi Net-Zero Standard has grown into one of the main international frameworks to define Net-Zero strategy for companies.
With the urge to act on climate change, many companies have developed a strategy to reduce their impact on the environment. However, the actions taken not only need to be ambitious but also be aligned with current climate science.
The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wilde Fund for Nature (WWF).
What are science-based targets?
The hierarchy it follows is based on a clear sequence of actions: first reduce GHG emissions, then remove what cannot be reduced in the long-term, and finally work beyond the value chain.
Reducing emissions (direct and indirect GHG of a company) is the corner stone of any science-based target.
SBTi makes it clear that net-zero can only be a long-term objective, attained through rigorous reduction of a company’s GHG emissions, throughout its value chain. The reduction objectives set by the company need to be compatible with the overall objective of 1,5°C global warming.
How to get approved net-zero targets?
Climact will help you understand where your company stands today and how it can best prepare for the future
- Calculate or check your carbon footprint using only validated carbon footprint methodologies (GHG protocol): are your organizational and operational boundaries correctly defined; does the carbon footprint cover all indirect emissions sources relevant to your company’s activity; are the emission factors the most recent available and do they come from robust databases; is the methodology for calculation, uncertainty, and possible exclusion well documented and justified.
- Develop targets: definition of the reference year, target year and target boundaries, GHG emissions targets covering scopes 1, 2 & 3, all in line with the overall ambition of 1,5°C (or well below 2°C when still applicable).
- Action plan and impact on your organization: implication of the reduction target on the actions your company must undertake, and the degree of ambition needed, assessment of potential gap between reduction needed and actions identified, close the gap to reach a transversal action plan.
- Upon decision of submitting your company’s application to SBTi, we help you all along the way until final validation.
We walk the talk.
Climact as a company has approved 1.5°C science-based targets and was member of the technical committee of the SBTi for 5 years.
Climact will help you to avoid the pitfalls of greenwashing and protect your brand from unfair claims. With ambition, transparency and efficiency.
Now is your time to act !
Climact already supported many companies with SBTi assessment, including LIDL, SPADEL, & de Bandt.
Besides ensuring you have a robust calculation method in place following the latest standards and covering your accounting and reporting needs, we put extra emphasis on facilitating the process towards all your stakeholders through training and collaborative workshops.
Should you wish more information, please get in touch with our team of experienced consultants: firstname.lastname@example.org, making sure you indicate SBTi inquiry as subject of your mail.Share