SBTi, Green and Low Carbon Development, Creating a Sustainable Future Together

Issuing time:2024-05-11 09:09

The SBTi (Scientific Carbon Target Initiative) is a global initiative jointly initiated by the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), the World Resources Institute (WRI), and the World Wildlife Fund (WWF), aimed at increasing corporate ambition, promoting more proactive emission reduction actions and solutions, and jointly addressing global climate change. Setting scientifically based carbon emission targets through SBTi can help businesses identify the necessary emissions reductions needed to comply with the Paris Agreement's goal of limiting warming to 1.5 degrees Celsius, thereby achieving their own carbon neutrality goals.


SBTi Applicable Objects

☆ Advocate for promoting corporate climate action and encourage companies in all fields to demonstrate their leadership by setting scientifically based emission reduction targets

Encourage high emission industry enterprises to join and ensure low-carbon economic transformation

The participants of the initiative do not include cities, local governments, government agencies, educational institutions, or other types of non-profit organizations, but encourage institutions to refer to scientific goal setting methodologies when setting greenhouse gas emission reduction targets

Why join SBTi

The Scientific Carbon Target Initiative aims to promote businesses and financial institutions to establish a climate science based carbon reduction target framework, which is aligned with the global temperature control goals of the Paris Agreement. This will be beneficial for:

Enhance brand reputation

One of the most important business interests is higher credibility for stakeholders.

Enhance investor confidence

For long-term investments, companies that set scientific carbon targets often have lower risks as they can demonstrate that their plans are based on the latest available scientific theories.

Enhance business adaptability and enhance enterprise competitiveness

The method of setting scientific carbon goals requires companies to refocus on a low-carbon economy, utilize various opportunities besides cost savings, and avoid the risk of asset grounding.

Drive innovation drive

The scientific carbon goals include a long-term vision, so companies will consider breaking through the limitations of universal greenhouse gas emission reduction solutions from a long-term perspective. New technologies and financing options may emerge in the corporate environment, with a focus on preparing for the arrival of a low-carbon economy.

Cost savings

Helping enterprises achieve streamlined and efficient business operations, thereby saving costs for the enterprise.

Meet future regulatory requirements

Scientific carbon goals can help businesses adapt to constantly changing policies and send stronger signals to decision-makers, enabling them to have greater influence on policy decisions. Enterprises have set scientific carbon targets, and once the government increases its efforts in climate action in the future, they can better respond to their regulation and adjustments.


How to join SBTi

The process for standard enterprises with more than 500 people to apply to join SBTi is as follows:

Step 1: Submit a commitment letter

Signing a commitment letter indicates that the company will strive to establish scientifically based emission reduction targets or independently verify the established targets.

Step 2: Develop scientific carbon goals

Once a company signs a commitment letter, it will have a maximum of 24 months to develop, validate, and submit scientific carbon targets.

Step 3: Submit Objectives

After the completion of the audit target setting, the enterprise needs to fill out the scientific carbon target submission form. The scientific carbon target management team will verify the rationality of the scientific carbon target based on its standards and notify the enterprise whether the target has been officially approved or requires additional revisions.

Step 4: Announce goals

After confirming that the company's goals meet the scientific carbon target standards, the company and its goals will be publicly displayed on the official website of the scientific carbon target.

Step 5: Disclosure

Enterprises should disclose their emissions on an annual basis and monitor the progressof their targets. The disclosure channels include CDP, annual reports of enterprises, sustainable development reports, and company websites.

For small and medium-sized enterprises with less than 500 employees, the application process is faster.

Firstly, register online, fill in basic information and select emission reduction targets.

Secondly, by filling out the form and signing the terms and conditions, the company needs to commit to:

According to the greenhouse gas accounting system, achieve the selected goals within the specified time frame;

According to the greenhouse gas accounting system's Enterprise Value Chain (Scope 3) Accounting and Reporting Standards, calculate and reduce emissions for Scope 3;

03 Annual public report on greenhouse gas emission inventories for scope 1 and scope 2 of enterprises, as well as progress relative to published targets.

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