Over 10,000 Companies Join SBTi in Committing to Science-Based Climate Targets: A Game-Changer for ESG Initiatives

The Science Based Targets initiative (SBTi) recently celebrated a big achievement: over 10,000 businesses have now set goals to reduce emissions based on scientific research. This number has jumped by 29% in just a year, which shows growing commitment to tackle climate change.

Founded in 2015, SBTi aims to make science-based environmental goals standard for all companies. They help businesses understand how to cut emissions and achieve net-zero targets in line with climate science. SBTi also offers technical support and validates the targets companies set.

Despite facing challenges, including the resignation of its former CEO, SBTi is moving forward. A recent controversial plan suggested that companies could use carbon credits as part of their net-zero plans. This raised questions, but SBTi has appointed David Kennedy, a former Chief Executive of the UK’s Committee on Climate Change, as its new CEO. They are reconsidering the role of carbon credits in their upcoming standards.

Another impressive milestone for SBTi is that the number of companies with validated climate targets has surpassed 7,000. This is a significant uptick from around 4,200 just a year ago. The rapid growth reflects the increasing demand for standards and services related to corporate decarbonization.

In a recent statement, SBTi praised these 10,000 businesses for their dedication to meaningful climate action. They encourage all eligible companies to set science-based emissions targets. The message is clear: it’s time to take action for our planet.