Tag: SBTi

SBTi launches draft Corporate Net-Zero Standard V2 for consultation

Stuart Mitchell

The Science Based Targets initiative (SBTi) recently published an initial draft of its revised Corporate Net-Zero Standard for public consultation. The draft standard sets out a science-based, innovative and pragmatic framework that enables more businesses worldwide to join the 3,000 with net-zero targets or which have committed to set them. It is informed by the latest climate science, regulation, and recognized standards and frameworks, as well as feedback from businesses about what they need to achieve the collective ambition of a net-zero future. Through public consultation, the SBTi is empowering…

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Beko Secures Science Based Targets initiative (SBTi) Validation for 1.5°C Aligned Near-Term and Net-Zero Targets

Stuart Mitchell

Beko, a global leader in home appliances, recently announced that it has received validation from the Science Based Targets initiative (SBTi) for its near and long-term net-zero science-based targets. With the targets designed to deliver ambitious and measurable action on climate change across every industry sector, validation from the SBTi represents a significant environmental milestone for both Beko and the broader home appliance space. Signed in 2016, the Paris Agreement on climate change aims to limit global warming to 1.5°C above pre-industrial levels. Established in 2015, the SBTi is having…

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UK’s biggest electricity distributor’s Net Zero ambitions validated

Stuart Mitchell

UK Power Networks which operates across London, the East and South East, is the first UK electricity network operator to be validated to the SBTi’s Net Zero Standard. To limit the global temperature rise to 1.5°C the SBTi stresses that global emissions have to be halved by 2030 and the world has to achieve net-zero before 2050. Mark Adolphus, director of Health, Safety, Sustainability and Connections at UK Power Networks said: “We realise the urgency of taking action. The latest climate science from the Intergovernmental Panel on Climate Change –…

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ALDI SOUTH Group among the first global grocery retailers to set science-based net-zero targets

Stuart Mitchell

The ALDI SOUTH Group reaches a significant milestone after gaining SBTi approval of new emissions reduction goals. The company now stands as one of the first global grocery retailers to have set science-based Scope 3 net-zero and FLAG greenhouse gas emissions targets, alongside our new 2030 commitment. The Science Based Targets initiative (SBTi), a collaborative body designed to independently assess and promote best practices in science-based target setting, assessed and validated the ALDI SOUTH Group’s new emissions reduction goals following an extensive review. With these ambitious new goals, the ALDI…

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The SBTi Corporate Net-Zero Standard revision expanded to refine approach to neutralization

Stuart Mitchell

The SBTi’s Corporate Net-Zero Standard provides the guidance and tools companies need to set science-based net-zero targets. Version 1 of the Standard was first published in 2021. It states that once companies have achieved their long-term emission reduction target, they must neutralize any residual emissions through permanent removal and storage of CO2 from the atmosphere. The SBTi is currently revising this flagship Standard and has today released an updated project terms of reference with minor adjustments, including the intention to refine the approach to neutralization. The SBTi intends to clarify…

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