Tag: SBTi

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…

Read More

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…

Read More

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’…

Read More

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…

Read More

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…

Read More