Tag: SBTi

The Science Based Targets initiative (SBTi) announces latest developments to cement its leading position and continue to drive exponential growth

Stuart Mitchell

The Science Based Target initiative (SBTi) is unveiling three important updates to accelerate the growth of corporate climate action. The initiative is: Moving ahead with incorporation as a stand-alone entity. Calling for nominations and applications for the new SBTi Technical Council and publishing its terms of reference. Urging all stakeholders to help shape our future work by completing our survey. Incorporation of the SBTi In June 2022, the Science Based Targets initiative (SBTi) announced its intention to incorporate as a formal institution, linked to but separate from its founding partners…

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Firmenich Receives SBTi Approval For Net-Zero Emissions Target

Stuart Mitchell

Firmenich, the world’s largest privately-owned fragrance and taste company, has received approval from the Science Based Targets initiative (SBTi) for its net-zero emissions target, making it the first company in the industry and one of the first companies globally to receive approval from the SBTi.  Firmenich has both near- and long-term science-based emissions reduction targets verified and approved by the SBTi. The Group is committed to reach net-zero greenhouse gas emissions across its value chain by 2039, keeping global warming below 1.5°C in line with the Paris Agreement “I am…

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Grosvenor becomes first European property business to receive approval for both a short-term and long-term science based target

Stuart Mitchell

Grosvenor’s UK property business (GPUK) has announced that it is the first European property company to have its long-term net-zero targets approved by the Science Based Targets initiative (SBTi). This will see the organisation reducing its emissions by at least 90% by 2040 to reach net-zero. The SBTi is a partnership of some of the world’s leading environmental organisations. It supports companies to set verified carbon reduction targets needed to meet the goals of the Paris Agreement – limiting global warming to well-below 2°C above pre-industrial levels and pursuing efforts…

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Sodexo among the first to achieve SBTi validation on net-zero target for UK business

Stuart Mitchell

Sodexo’s near and long-term science-based emissions reduction targets have been validated by the Science Based Targets initiative (SBTi), as the business prioritises decarbonisation to reach net-zero emissions and reduce its impact on climate change. Sodexo announced recently that international experts, SBTi, have validated its net-zero science-based target by 2045* and long-term science-based target to reduce greenhouse gas (GHG) emissions by 90% across all scopes 1, 2 and 3 by 2045**. This long-term science-based target, set against a baseline of 2017, incorporates emissions created throughout Sodexo’s value chain, including its supply…

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Companies committed to cut emissions in line with climate science now represent $38 trillion of global economy

Stuart Mitchell

The SBTi has launched its third annual assessment of the initiative’s impact since its launch in 2015. The 2021 Progress Report ‘Scaling Urgent Corporate Climate Action Worldwide’ reveals that the SBTi has entered a period of exponential growth with SBTi companies now representing over a third of global market capitalization, worth $38 trillion USD – up from 20% in 2020. (SBTi companies refers to companies with science-based targets approved by the SBTi and companies with commitments to set targets. Global market capitalization is the total dollar value of publicly-traded companies’…

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