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How to fill out science based target setting

How to fill out science based target setting

1. Understand the framework: Familiarize yourself with the Science Based Targets initiative (SBTi) and its guidelines.
2. Gather data: Collect relevant data on your company's current greenhouse gas (GHG) emissions.
3. Define the scope: Determine which scopes of emissions (Scope 1, Scope 2, Scope 3) you will include in your target setting.
4. Choose a target: Decide on the type of target (absolute reduction, intensity reduction, etc.) based on your organizational goals.
5. Calculate baseline emissions: Establish a baseline year and calculate your emissions for that year.
6. Set your target: Develop a science-based target that aligns with the SBTi criteria, ensuring it meets the necessary emissions reductions by a specific date.
7. Submit for validation: Submit your target to the SBTi for validation to ensure it meets their requirements.
8. Communicate your target: Share your science-based target with stakeholders, employees, and the public to demonstrate your commitment.
9. Monitor progress: Regularly track and report on your emissions and progress towards your target.

Who needs science based target setting?

1. Corporations seeking to reduce their carbon footprints and improve sustainability efforts.
2. Companies in industries with significant emissions looking to enhance their climate strategy.
3. Investors and stakeholders interested in the sustainability practices of organizations.
4. Organizations aiming for transparency in their environmental impact and accountability.
5. Businesses aligning with international climate agreements and reducing climate-related risks.

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What is science based target setting?

Science based target setting involves defining greenhouse gas emissions reduction targets that are aligned with the latest climate science to limit global warming to well below 2 degrees Celsius above pre-industrial levels.

Who is required to file science based target setting?

Any organization or company that wishes to demonstrate its commitment to sustainability and climate action may be required to file science based target setting, especially if they are part of regulatory frameworks or voluntary programs that promote climate action.

How to fill out science based target setting?

Organizations usually need to follow specific guidelines provided by standards like the Science Based Targets initiative (SBTi). This includes calculating their baseline emissions, selecting an appropriate target, and using approved methods to demonstrate progress.

What is the purpose of science based target setting?

The purpose is to provide a clear framework for companies to align their climate strategies with scientific recommendations, thereby contributing to global efforts to mitigate climate change and ensuring accountability in emissions reductions.

What information must be reported on science based target setting?

Organizations must report their current emissions levels, baseline year, target year, chosen reduction targets, and progress made towards achieving these targets.