Tag: Science Based Targets initiative

Corporate climate action accelerated in 2022, with an 87% increase in companies setting science-based targets

Stuart Mitchell

The Science Based Targets initiative (SBTi) reported a sharp rise in companies setting science-based targets in 2022, with 87% more having their targets validated (1,097), more than the entire previous seven years combined (1,082). In the SBTi Monitoring Report 2022, Japan emerged as a leader, with more companies setting targets there than in any other country. Companies with science-based targets represented 40% of the NIKKEI index by the end of 2022. Asia showed strong growth overall with a 127% increase in companies setting a science-based target in 2022. China experienced…

Read More

Nasdaq’s Net-Zero Target Approved by The Science Based Targets Initiative

Stuart Mitchell

Nasdaq has announced that its near- and long-term science-based emissions reduction targets have been approved by The Science Based Targets initiative (SBTi). Nasdaq has pledged to reduce absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions 100% and absolute Scope 3 GHG emissions 50% by 2030. SBTi has also validated Nasdaq’s pledge to reduce Scope 3 GHG emissions 95% to reach net-zero by 2050. Nasdaq is committed to using its environment, social, and governance (ESG) efforts to lead the shift toward creating more sustainable capital markets. Guided by our…

Read More

Airbus decarbonisation targets validated by the Science Based Targets Initiative (SBTi)

Stuart Mitchell

Airbus has received approval from the Science Based Targets initiative (SBTi) for its greenhouse gas emissions near-term reduction targets. In 2022, Airbus officially committed to defining science-based targets for the entire set of its emissions and submitted near-term targets that have now been independently assessed and validated by the SBTi. As part of this commitment, Airbus intends to reduce its Scope 1 and Scope 2 industrial emissions by up to 63% by 2030, in line with a 1.5°C pathway. The Company also committed to reducing by 46% the greenhouse gas…

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

Science Based Targets initiative launches net-zero finance standard development process with Foundations paper

Stuart Mitchell

The Science Based Targets initiative (SBTi), the global body enabling businesses to set emissions reduction targets in line with climate science, is publishing a Net-Zero Foundations for Financial Institutions paper that provides new concepts for defining and setting net-zero targets for banks, asset owners, asset managers and other financial institutions. Financial institutions with US$130 trillion in assets under management are now committed to reaching net-zero emissions before 2050. However, a science-based approach is needed for them to set consistent net-zero targets with emissions reductions in line with the Paris Agreement…

Read More