SBTi Insider
Science Based Targets initiative
Enabling organizations to take swift climate action by setting ambitious emissions reduction targets.
March 2024
The SBTi releases new reports to help accelerate corporate climate action beyond the value chain
The Science Based Targets initiative (SBTi) has released two new reports to support the design and implementation of beyond value chain mitigation (BVCM) strategies and mobilize increased action from corporations:
The “Above and Beyond” report provides suggestions to support companies in the design and implementation of BVCM strategies to accelerate progress towards global net-zero.
The report explores the business case for companies to adopt BVCM, and describes the suggested steps involved in making a BVCM pledge. It also provides illustrative examples to show how companies in a range of sectors might implement BVCM inline with the suggestions provided.
The second report explores the incentives for BVCM over which the broader climate ecosystem has influence, including civil society, academia, policymakers, standard setters, advocacy organizations and multilateral organizations. It draws upon SBTi research to consider the barriers and incentives for private sector adoption of BVCM. The report proposes a toolbox for accelerating corporate adoption and implementation of BVCM and sets out recommendations for different actors, offering a shared vision and “theory of change” for scaling corporate climate finance into BVCM over the coming decades.
Other SBTi News
The SBTi launches open call for Validation Council members
The SBTi has launched its open call for Validation Council members to oversee the governance of target validation as the SBTi continues to develop its validation entity. The SBTi is looking for five independent Validation Council members to serve three-year terms with a maximum of two terms. Applicants are asked to read the full Terms of Reference and open call document before applying.
SBTi Glossary
On 28 February, alongside the two new BVCM reports , SBTi launched its first SBTi Glossary . It defines terms and acronyms commonly used by the SBTi, and can act as supplementary material to any of the SBTi’s technical resources. The Glossary is designed to improve accessibility and increase understanding, ultimately giving more companies the clarity to set ambitious climate targets.
Events and Opportunities
BVCM Deep Diver Webinar
On 21 March, the SBTi will be hosting a deep dive webinar focusing on the two newly released BVCM reports (see above).
Scarlett Benson , the SBTi’s BVCM lead, will walk through each report followed by a live Q&A. There will be two sessions on 21 March:
Each session will also feature speakers from the corporate climate ecosystem, including representatives from Gold Standard , the Voluntary Carbon Markets Integrity Initiative ( VCMI ), and Emergent . Be sure to register today!
Responsible Business USA 2024
On 27 March at 09:40 ET, Paulina Tarrant , the SBTi’s Senior Stakeholder Engagement Manager, will be moderating the keynote panel at Reuters’ two-day Responsible Business USA 2024 event. Paulina will speak with Barry Parkin , Chief Sustainability & Procurement Officer at Mars, and Susan Uthayakumar , Chief Energy and Sustainability Officer at Prologis, about how C-Suite executives are incorporating net-zero transition strategies into wider business growth plans.
Request for Proposals: Developers for the SBTi Training Program
The SBTi is developing a comprehensive training program to educate and empower its stakeholders. To support this effort, the SBTi is seeking to hire a professional technical content developer to create a series of bespoke digital and hybrid training modules for companies and financial institutions. Candidates are asked to read the full Training Program RFP and to apply by filling out this Google Form by 28 March.?
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Request for Proposals: Science-based target setting methods for scope 1 emissions
As part of its development as a standard-setter, the SBTi is assessing the methods used for setting science-based targets. This work will help inform the development of future standards, including revision of the SBTi Corporate Net-Zero Standard. Candidates are asked to read the full Target Setting Methods RFP and email expressions of interest and questions to Ginger Kowal by 20 March. The subject line should be titled: Call for independent review – SBTi Target setting methods.
Noteworthy News
Environment+Energy Leader | Mar 1
“The [SBTi] has released two new reports to guide companies in accelerating net-zero efforts beyond their Scope 1, 2, and 3 emissions…”
Carbon Herald | Feb 29
“[The] SBTi is raising the bar by providing recommendations for reducing emissions outside the value chain.”
BusinessGreen | Feb 28
“[The SBTi] moves to support the design and deployment of 'beyond value chain' mitigation measures.”
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Sustainability & Growth @ Eaglesfield ESG ????????♂? BSc CEnv CMktr MCIM MIEMA
8 个月Hi Science Based Targets initiative - an update to your Net Zero tool was due to be released yesterday. Do you know when it is scheduled for release? (I have a submission on hold until the update allows a FY23 baseline...)
Systems Transformation Catalyst
8 个月SBTi stakeholders may want to check out my analysis deconstructing some elements of the new Glossary: https://www.dhirubhai.net/posts/billbaue_the-glossary-that-the-science-based-targets-activity-7171579168164401153-uPbq?utm_source=share&utm_medium=member_desktop