This is the decade for climate action, a decisive point where we need to take meaningful action to get climate change under control and get on track toward meeting the 1.5 degrees Celsius temperature goal of the Paris Agreement. Science-based targets provide companies with the rigor to reduce emissions, enhance reputation and protect their bottom lines.
Defining Science Based Targets
A carbon emissions target is defined as “science-based” if it is in line with the scale of reductions required to keep global temperature increases well-below 2 degrees Celsius compared to pre-industrial temperatures. Targets set aligned to a 1.5 degrees Celsius trajectory do so with the goal of achieving Net Zero emissions by 2050 or earlier.
The value of Science Based Targets
The transition to a low-carbon economy is underway and accelerating globally, with almost 1,000 companies (as of Sept. 2020) 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. It 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.
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.
Developing, validating, measuring progress, and reporting on SBTs
Anthesis provides end-to-end support for businesses with the entire process of developing their science-based target, through to target validation, communication, implementation and 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 process 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.
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 businesses with reporting on their SBT by annually tracking and reporting progress against the target.
Our Science-based-Targets Evaluation services:
- 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.
Taking action now will help you stay a step ahead of future policies and regulations to limit carbon emissions, inspire and demonstrate leadership across your value chain and with your stakeholders and future-proof your business for a rapidly changing world.
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.
We'd love to hear from you
Anthesis has offices in the U.S., Canada, UK, France, Ireland, Italy, Germany, Sweden, Spain, Portugal, Andorra, Finland, Colombia, Brazil, China, the Philippines and the Middle East.