The Science Based Targets initiative (SBTi) is a collaborative effort between CDP, the United Nations Global Compact (UNGC), World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). It provides a framework for companies to set emissions reduction targets aligned with the latest climate science, particularly aiming to limit global warming to well below 2 degrees Celsius above pre-industrial levels.
SBTi assesses and approves companies' targets based on their alignment with their scientific criteria, fostering credible and transparent climate action across industries.
The SBTi validation process
Before deciding, every company should consider the criteria for SBTi validation.
The SBTi provides a five-step process for companies to set SBTs. The five steps are:
Commit: submit a commitment letter
Develop: develop a target in line with SBTi’s science-based criteria
Submit: submit your target for validation by the SBTi
Communicate: announce your target
Disclose: continue to disclose emissions on an annual basis and monitor progress on your target
Do I have to submit my science-based target to SBTi?
While the SBTi is an excellent form of public recognition for its dedication to corporate sustainability, commitment to the SBTi is not a requirement for implementing science-based targets.
By setting a framework for companies to set emissions reduction targets aligned with the latest climate science, the SBTi publically defines what constitutes a science-based target. This means you can set one without validating it with SBTi.
To benchmark your organisation's target against the science-based targets of other companies committed to the SBTi, we recommend browsing SBTi’s “Companies Taking Action” interactive dashboard. You can filter the information in the dashboard based on the sector, the type of organisation, the region, etc.
Plan A can assist clients in developing science-based targets that can be implemented with or without official validation by an outside framework.
Should I submit my science-based target to SBTi?
Submitting your science-based target to the SBTi comes with many benefits, such as:
Credibility and Recognition: SBTi is a widely recognised and respected initiative when it comes to validating companies' emission reduction targets. Having a target approved by SBTi will enhance the credibility of your organisation's sustainability efforts and demonstrate a commitment to science-based climate action.
Market Leadership: Being recognised by SBTi as having science-based targets can position your company as a leader in its industry and signal to investors, customers, and other stakeholders that the company is taking proactive steps to address climate change.
Competitive Advantage: Companies with science-based targets can gain a competitive advantage by differentiating themselves from peers and attracting environmentally conscious customers, investors, and employees who value sustainability commitments.
However, there are certain things to consider when deciding whether to submit to SBTi:
Submission can be resource-intensive: The process of developing and submitting targets to SBTi may require dedicated resources, including personnel, expertise, and potentially external consultants. Whilst Plan A does provide services to help clients develop science-based targets for their companies, Plan A does not offer consulting services for the administrative process of submitting targets to the SBTi.
Costs: Submission itself can be costly depending on your organisation's size and sector. For more information, see SBTi's pricing information.
Accountability: Once submitted, science-based targets are openly available, and therefore, the targets and your organisation's progress toward them are subject to the scrutiny of the public, investors, and other stakeholders. Whilst this should not deter climate action, it is recommended to first esure you have a robust decarbonisation pathway and the correct stakeholder buy-in to ensure its success.
All in all, there are many reasons to submit your science-based target to SBTi, but these benefits should be weighed against your organisation's capacity to undergo the submission process.