What is SBTi?
The Science Based Targets initiative (SBTi) is a global initiative that enables organisations to align their greenhouse gas emission reduction commitments with targets set in line with the latest climate science. SBTi encourages companies to align their carbon reduction targets with the Paris Agreement and the IPCC (Intergovernmental Panel on Climate Change) limits on global temperature rise.
SBTi helps companies set net zero carbon targets and clarify the actions needed to achieve them. It guides organisations in developing short, medium and long-term emission reduction strategies, while accelerating the process of adapting to a zero-carbon economy by facilitating the transition to low-carbon business models.
As the impacts of the climate crisis become more apparent, it has become imperative for companies to transition to a low-carbon economy and integrate emission reduction strategies into their business models. To this end, the Science Based Targets Initiative (SBTi) guides companies in developing transparent and sustainable emissions reduction strategies based on scientific data.
How Does the SBTi Process Work?
The SBTi process requires companies to identify their current carbon footprint and create a roadmap, based on scientific data, to achieve their net-zero targets. The process consists of the following stages:
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1. Statement of Intent
The company must formally announce its commitment to tackling climate change and commit to participating in SBTi.
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2. Submission of the target to the SBTi platform
Scope 1 (direct emissions): Measurement of emissions from the company's own operations.
Scope 2 (indirect energy emissions): Calculation of emissions from electricity, heat or steam consumption.
Scope 3 (supply chain and product use): Analysis of emissions from the entire value chain, from purchased raw materials to logistics activities, from consumer use to waste management.
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3. Submission of the target to SBTi
This is the process of evaluation and approval of the identified targets by SBTi. This stage verifies that the reduction targets set by the company are in line with the scientific basis and the dynamics of the sector.
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4. Announcement of the target
Approved emission reduction targets are announced to the public and the company's commitment to the transition to a low carbon economy is transparently shared.
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5. Reporting on progress
Companies regularly measure, analyse and report progress towards their reduction targets to their stakeholders.
At Greenlife Consulting, we help companies accelerate their integration into the low carbon economy by complying with the SBTi. We develop carbon management strategies, create emission reduction roadmaps and carefully manage SBTi approval processes.
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