Tag: SBTi

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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PwC’s climate targets validated by SBTi

Stuart Mitchell

PwC has announced it received validation for its science-based targets and reaffirmed its commitment to achieve net zero greenhouse gas (GHG) emissions by 2030.  The Science Based Targets initiative (SBTi) validated PwC’s targets to reduce greenhouse gas emissions by 50% in absolute terms from 2019 levels by 2030 in line with a 1.5 degree scenario. Importantly, PwC’s targets go beyond scopes 1 and 2 emissions to include PwC’s largest indirect scope 3 emissions. Bob Moritz, Global Chairman of PwC, says: “Climate change is one of the most urgent problems facing our…

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SBTi secures $37M USD to scale-up exponential growth

Stuart Mitchell

The Science Based Targets initiative (SBTi), the global body enabling businesses to set emissions reduction targets in line with science, has been awarded three grants totaling $37 million USD from Bezos Earth Fund, IKEA Foundation and Laudes Foundation. The funding will enable the SBTi to accelerate the exponential growth in the number of companies setting science-based emissions reductions targets focused on immediate, ambitious and robust action to halve global emissions before 2030 and achieve net-zero before 2050. More than 2000 companies are already committed to the SBTi, and companies with…

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SBTi launches world-first net-zero corporate standard

Stuart Mitchell

The Science Based Targets initiative (SBTi), the global body enabling businesses to set emissions reduction targets in line with science, today launches the world-first Net-Zero Corporate Standard. To combat this, the SBTi’s Net-Zero Standard is the world’s first science-based certification of companies’ net-zero targets in line with the Paris Agreement’s goal of keeping planetary warming to 1.5°C. Alberto Carrillo Pineda, Co-Founder and Managing Director of the SBTi, said: “Companies are currently self-defining net-zero targets without credible and independent assessment of their ambition and integrity. “For the first time, the SBTi…

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Allianz drives change toward a low-carbon economy with an ambitious climate protection package

Stuart Mitchell

The Allianz Group is significantly expanding its climate strategy and has announced commitments to actively support the global change to a low-carbon economy over the coming decades. Allianz is one of the first insurance companies to set itself long-term climate goals which are linked to the two-degree target of the Paris Climate Agreement. By 2040, in a step by step process, Allianz will have phased out both its proprietary investments in coal-based business and its insurance coverage of such risks. In addition, the company will reduce the carbon footprint of…

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