What are the best ways to set and track science-based targets for your sustainability goals?

Measure scope 1, 2 and 3 of each industry and see which technology is the most appropriate to achieve the set objective. Be technologically neutral and based on the maturity of the technology, the industrial process and the client's electrification plan. Measuring the LCOE and LCOH of each technology and the impact of the measures we provide on the client's final product is very important to measure the energy cost in the final production, be it tons of steel, liters of milk or kilograms of ceramics. We must know how much energy impacts our final product on the market. And then make a plan with the client to implement measures based on the client's needs with a commitment to savings and with follow-up meetings to share Kpis.

In my experience this process not only provides a snapshot of the organization's current environmental impact but also serves as a benchmark for future progress and supports identifying opportunities for collaboration across the value chain. Transparency and disclosure play a vital role in the SBT-setting process, fostering accountability and trust with stakeholders.

The key is to ensure that the targets you set are in line with the level of decarbonisation required to keep global temperature increase below 2 degrees Celsius, as compared to pre-industrial temperatures. The main steps are: -Commitment: declare intent and engage stakeholders. -Development: assess impacts and set measurable targets. -Validation: seek external review for target credibility (by SBTi or other service provider). -Implementation: develop and implement strategies to meet targets. -Communication: inform internal and external stakeholders about targets. -Disclosure: track progress and report publicly.

Sustainability goes beyond climate and nature, for both clear guides a provided by SBTi for both. The concept of SBTi like sustainability is primarily focused on the environment and often overlooks the social factors of sustainability. Social and Governance targets must be integrated to ensure a holistic approach to setting real world SBTi targets. Factors such as human rights, social equity and ethical business practices to name a few, can be integrated into the process. This is fundamental to ensure that organisations meet their triple bottomline while improving organisational resilience and stakeholder trust.

Setting science-based targets for sustainability involves aligning goals with scientific benchmarks for emissions reduction and environmental impact. Start by assessing current emissions and impacts, then establish ambitious yet achievable targets. Regularly track progress using key performance indicators (KPIs), such as carbon footprint, energy consumption, and waste generation. Utilize tools like life cycle assessments and environmental management systems for accurate measurement. Collaborate with experts and stakeholders for guidance and accountability. Adjust targets as needed based on scientific updates and organizational growth.

This shall be the most defining step in an organisation’s SBT journey. In the context of climate related goals, whether it is decarbonisation or net zero, having a validated baseline of scope 1, scope 2 and scope 3 emissions to ensure that the boundary is well defined, all the relevant sources have been accounted for & that the methodology and emission factors utilised are accurate. This will greatly influence the next steps of projecting future emissions, conducting a scenario analysis and setting the right goals. Hence, in this step, if the organisation has already calculated and reported their scope 1,2&3 emissions, they may engage with an independent third party to validate these numbers as per the GHG protocol and/or ISO 14064.

While it is important to understand your current situation (baseline) and the types of emissions you are accountable for (scope), some additional thoughts: #Consider including guidance on choosing a relevant baseline year and potential adjustments for non-recurring events. #Highlighting the benefits of setting SBTs, such as mitigating climate risks, enhancing brand reputation, and attracting sustainable investments, can further incentivize organizations to undertake this process.

The most important part of setting your baseline is ensure that you are doing something truly good for the environment. If you set your boundaries too small, you may look sustainable/carbon neutral when in reality you are still emissive. By doing true cradle to grave LCAs you can ensure you are really removing carbon from the fluid environments where it is problematic, as opposed to simply shifting it around. Just like a checkbook, you don't look at how each individual account is doing. You look at the totality of your income and expenses to see how you are really doing!

Ensure good governance over your methodology and data right from the start, as these will be used to monitor your yearly progress towards your targets. If you need to modify your methodology in future, that’s acceptable if it’s still in accordance with reputable guidance such as the GHG protocol, still covers all relevant scopes of emissions and if your targets are adjusted accordingly.

Before setting SBTs, organizations must assess their current environmental footprint and identify key areas for improvement. This involves conducting comprehensive assessments of greenhouse gas emissions, resource consumption, and other relevant sustainability metrics across the organization's value chain. Understanding the baseline allows for the identification of hotspots and opportunities for emission reductions and resource efficiency improvements. Moreover, clarifying the scope of SBTs ensures that targets encompass all relevant operational activities and contribute meaningfully to overall sustainability goals.

Part of the reason we focus so heavily on near-term targets is that if you don't hit your near-term target, you won't be on track for long-term. Nail the commitment to 50% reduction by 2030. Worry about 2050 in 2031. If you've done well in your near-term efforts, you'll have that much less worrying to do. Note the time frame guidance in the main article is outdated (if not updated by the time you read this): SBTs for the near-term look forward 5-10 years.

Timeframes around emission reduction targets should be chosen carefully. 2050 or longer targets (common for Net-zero) are often criticised for their reliance on unproven technologies and lack of detailed plans. The SBTi promotes setting near and long-term targets. Similarly, the EU's new sustainability reporting directive, the CSRD, mandates companies to report their emission reduction targets for short, medium and long-term timeframes.

Establishing ambitious yet achievable SBTs requires careful consideration of organizational capacity, market trends, and long-term sustainability objectives. Organizations should set targets that align with the latest climate science and contribute to limiting global warming to well below 2 degrees Celsius. Additionally, defining clear timeframes for achieving SBTs provides a sense of urgency and accountability, driving momentum towards implementation and progress tracking.

SBTi's target setting process is structured around maintaining a global 1.5 degree trajectory. This means that the targets are set not by the corporate company taking an inside-out look at their decarbonization potential and determining where they think they can comfortably reach by their target dates. Instead it is an outside-in approach with SBTi mandating a certain level of decarb based on best available science. However, at the target setting stage it is compulsory to present plans and identified levers for how you intend to reach your target. So there is a critical requirement to not just understand your footprint but also look for solutions specific to your companies emissions hotspots.

Regularly model and monitor existing pipelines against delivering on these targets. Engage all relevant stakeholders closely to ensure actions within the organisation are clear to allow delivering on targets. A well-defined governance structure and designationed champions within various divisions and functions in the organisation can further support effective roll-outs of actions as well as monitoring and reporting on delivery.

Effective tracking mechanisms are essential for monitoring progress towards SBTs and evaluating the effectiveness of sustainability initiatives. Organizations should implement robust data collection and reporting systems to track relevant metrics, measure performance against targets, and identify areas for improvement. Transparent reporting of progress demonstrates organizational commitment to sustainability and fosters accountability to stakeholders, including investors, customers, and regulators.

You can set or visually track your progress against your SBT within a dynamic chart for free at ecorth.com. All charts can be download in PNG or SVG, and the underlying data as a CSV file. Annoyingly, many of the reporting standards and platforms do not provide this basic function, even SBTi, so we decided to build it. All SBTi targets are already pre-loaded and we collect emissions for all these companies. So if you are one of these companies, just sign up as we have already done the progress work for you.

Monitoring your progress towards targets requires the development of specific indicators, such as the amount of emissions reduced, energy efficiency improvements, or % of renewable energy used. Regular assessment of progress could be done annually or even more frequently depending on your targets, and technology can assist with this. It’s important to review and adjust your strategies if you’re not meeting your targets.

It can be useful to establish a dedicated team or assign a specific person to monitor the latest developments and best practices in climate change. This can help ensure that your SBTs are always aligned with the most recent and relevant information.

Hay muchas acciones que puedes tomar a nivel colectivo en temas de SBT, algunas que se me ocurren en este momento son: -Identifica las entidades en tu país que trabajen el tema -Identifica entidades de gobierno en tu país e involúcrate en las metas locales - únete a asociaciones sectoriales que estén trabajando en SBT -únete a redes internacionales de apoyo para la implementación de los SBT

In addition to leaning on networks and initiatives focused on carbon goals, look to your industry peers and supply chain partners. Find pre-competitive spaces to share best practices and learnings. For example, if you're buying chicken breast, who is buying the other half of the bird? Partner with them to create a harmonized carbon reduction strategy to meet both your goals and be more efficient for the producer and farmer.

??Now that the hard work is done, consider bringing your finance/treasury teams together and speak to your banker about how you can leverage your SBTs for purposes of sustainability-linked financing. SBTs reflect ambitious climate target-setting so with greater stakeholder buy-in, time and costs could be saved for getting any Second Party Opinion (SPO). You will be able to enjoy preferential pricing upon achievement of step annual targets on your decarbonisation journey. ??Go one step further to tackle your Scope 3 GHG emissions, by bringing onboard your key suppliers in a sustainability-linked financial supply chain management programme as well by incentivising them to set SBTs and collaborating on decarbonisation initiatives.

Communicating the journey of setting and tracking science-based targets is vital for transparency and accountability. It involves sharing both progress and challenges internally and externally. This openness not only fosters trust among stakeholders but also strengthens customer connections by aligning values. Regular updates, through reports or digital platforms, showcase commitment to sustainability goals, encouraging engagement and support from the community, employees, and consumers alike.

The Science Based Targets initiative (SBTi) is by far the best framework to follow. The Net Zero standard is ever evolving and adding sectoral specificity whilst providing the requisite deacrbonisation pathways in line with a 1.5C temperature increase limit. It also provides the tools, support and templates for corporate to the modelling, submission and validation.