The transition to a low-carbon economy is underway and accelerating globally, with almost 4,000 companies (as of Oct. 2022) taking science-based climate action by committing to set science-based targets (SBTs). The practice of setting SBTs enables companies get on track and future-proof growth and is one of the best practices for publicly communicating a company’s commitment to being a leading corporate partner in the effort to limit the effects of climate change. Additionally, setting SBTs provides a host of business benefits and can facilitate improved supplier engagement.
This landscape is dynamic and constantly evolves with the climate science. With the ultimate goal of reducing the most severe impacts of climate change some businesses align their target ambitions with the 1.5 degrees Celsius pathway, while others aim even higher with bolder commitments to fully neutralize their carbon emissions. While making these commitments and setting the targets are excellent first steps, the annual monitoring, measurement and reporting of progress against SBTs becomes even more critical.
How we help clients
At Anthesis, we view the process of setting Science Based Targets not merely as a checkbox but as a transformative business journey. Our end-to-end SBT consulting support distinguishes us as the preferred partner for businesses aiming to make a genuine impact. We guide our clients through the entire process, from target development and validation to communication, implementation, and ongoing progress tracking.
We perform the analytics required for a business to achieve its SBT: our experts select the best methodology, gather and analyse their key performance metrics; recommend and evaluate target options to reduce their operational and value-chain GHG emissions and test feasibility strategies for achievement.
Our team also enables the business processes necessary for the SBT to succeed: we support internal vetting of targets by their relevant business functions and final approval from senior leadership that include the recommended strategies to successfully implement and achieve their science-based targets.
Science Based Targets Progress Measurement and Reporting
Anthesis supports with implementing targets by providing tailored processes to communicate to key stakeholders within the business and across its value chain. Anthesis also supports SBT business reporting by annually tracking and reporting progress against the target.
- Helping you to choose a target setting approach, whether it be sector-based, absolute or economic.
- Modelling current carbon performance and forecasting ‘business as usual’ performance.
- Evaluating reduction initiatives and test the feasibility of proposed target options, time frames and strategies.
- Setting science-based targets in line with the most ambitious reduction scenario possible and gaining internal leadership support and approval for an implementation program.
- Submitting them to the Science Based Target Initiative and supporting the approvals process.
- Evaluating reduction methods and business operations to identify hotspots.
- Reviewing targets and progress annually.
We partnered with industry expert Anthesis to ensure we could meet the rigorous requirements of an SBTi-approved goal for Scope 3 emissions. With Anthesis’ guidance, we were able to footprint our current Scope 3 impact as well as model out all the underlying initiatives and activities that will help us achieve our 2030 target.Former VP of Corporate Responsibility – Target
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