At ESG360, we recognize the critical importance of setting science-based targets (SBTs) to address climate change effectively. Our SBTi consulting services are designed to guide organizations through the process of establishing ambitious and credible targets that are in line with scientific consensus and global climate goals.

 

Why Choose ESG360 for SBTi Consulting?

  1. Expert Guidance: Our team of SBTi experts brings deep expertise in environmental science, regulatory landscapes, and sustainability strategy. We provide comprehensive support tailored to your industry and organizational goals.
  2. Holistic Approach: We take a holistic view of your business operations, helping you integrate sustainability into your core strategies. From emissions reduction strategies to enhancing energy efficiency and resource management, we align SBTs with your broader ESG (Environmental, Social, and Governance) objectives.
  3. Customized Solutions: Every organization is unique. We offer customized solutions that cater to your specific challenges and opportunities. Whether you're a multinational corporation or a mid-sized enterprise, our services are designed to meet your needs.
  4. Stakeholder Engagement: Transparent and credible reporting is key to building trust with stakeholders. We assist in developing robust stakeholder engagement strategies to enhance credibility and showcase your commitment to climate action.

 

Our Approach to SBTi Consulting

  • Assessment and Target Setting: We conduct a thorough assessment of your current emissions profile and sustainability practices. Based on this analysis, we collaborate with your team to set ambitious yet achievable SBTs that align with the latest scientific research and methodologies.
  • Implementation and Monitoring: Setting targets is just the beginning. We support you in implementing action plans to achieve these targets, integrating them into your operational practices. Regular monitoring and reporting ensure progress is tracked effectively.
  • Continuous Improvement: Climate action is dynamic. We help you adapt to evolving regulations, technological advancements, and stakeholder expectations, ensuring your SBTs remain relevant and impactful over time.

 

To join the Science Based Targets initiative (SBTi), organizations typically follow these steps:

  1. Commitment: First, commit to setting science-based targets (SBTs) aligned with climate science and the goals of the Paris Agreement.
  2. Target Setting: Develop and submit targets for validation by the SBTi. These targets should be consistent with current climate science and a 1.5°C or well-below 2°C pathway.
  3. Validation: Submit your targets to the SBTi for validation. This involves a review process to ensure that the targets are ambitious enough to contribute to global climate goals.
  4. Approval: Once validated, your organization's targets will be approved by the SBTi, and you can publicly announce your commitment to setting science-based targets.
  5. Implementation: Implement measures to achieve your science-based targets, monitoring progress and adjusting strategies as needed.
  6. Reporting: Regularly report on your progress towards achieving your targets, including updating your performance against your baseline and target trajectories.
  7. Renewal and Enhancement: Review and renew your targets periodically, ensuring they remain in line with the latest climate science and adjusting them as necessary to increase ambition.

 

To initiate the process, visit the SBTi website (sciencebasedtargets.org) for detailed guidance, resources, and tools. They provide extensive support to help organizations understand the criteria, develop targets, and submit them for validation.

 

The Science Based Targets initiative (SBTi) provides guidance and requirements for setting science-based targets (SBTs) across Scope 1, Scope 2, and Scope 3 emissions. Here’s a brief overview of the requirements for each scope:

  1. Scope 1 Emissions:
    • Definition: Scope 1 emissions are direct greenhouse gas (GHG) emissions from sources that are owned or controlled by the organization.
    • SBTi Requirement: Organizations must set targets to reduce Scope 1 emissions in line with limiting global warming to well-below 2°C or 1.5°C compared to pre-industrial levels. The targets need to be ambitious and aligned with the latest climate science.
  2. Scope 2 Emissions:
    • Definition: Scope 2 emissions are indirect GHG emissions from the consumption of purchased electricity, heat, or steam.
    • SBTi Requirement: Organizations must set targets to reduce the emissions associated with purchased electricity consumption. This can include increasing the share of renewable energy in the electricity mix or improving energy efficiency to lower emissions intensity.
  3. Scope 3 Emissions:
    • Definition: Scope 3 emissions are all indirect emissions that occur in the organization's value chain, including both upstream and downstream activities not owned or controlled by the organization.
    • SBTi Requirement: While SBTi encourages the inclusion of Scope 3 emissions in target setting, it recognizes the complexity and variability across different sectors. Targets for Scope 3 emissions should cover a significant portion of total emissions and focus on the most material categories based on a thorough assessment (e.g., purchased goods and services, transportation, etc.).

Key Considerations:

  • Ambition: Targets must be ambitious and contribute to limiting global warming to well-below 2°C or 1.5°C.
  • Base Year: Targets should be set relative to a base year and include a specific timeline for achievement.
  • Reporting and Validation: Organizations need to report their progress annually and, if pursuing SBTi validation, submit their targets for review and approval by the SBTi team.

For specific guidance tailored to your organization's sector and circumstances, it's advisable to consult the official SBTi resources and tools available on their website or seek guidance from a qualified consultant familiar with SBTi requirements.

 

 

Drive Sustainable Growth with ESG360

Partner with ESG360 to leverage our SBTi consulting services and accelerate your journey towards a low-carbon future. Contact us today to learn more about how we can support your organization in achieving science-based climate targets and demonstrating leadership in environmental sustainability.

Science Based Target Initiative Advisory Service