The initiative helps companies engage and achieve science-based goals by independently evaluating and approving all set goals and offering resources, workshops, and guidance to remove barriers to adoption. The overall goal of the initiative is for scientific targets to become standard practice by 2020 and for companies around the world to play an important role in reducing greenhouse gas emissions. Many companies are already showing that they have the skills, expertise and ingenuity to make this a reality – but they need ambitious emissions reduction targets that ensure the transformative measures they take are in line with current climate science. And the number of companies that sign up for science goals will only increase. A recent survey of members of the edie Leaders Club – an exclusive group of professionals based on the responsible members of the management of their company`s sustainability strategy – found that more than half (55%) of the 31 respondents have started to apply scientific objectives or that the methodology is already fully integrated into their strategy. “Big challenges require big solutions,” said Ed Bastian, CEO of Delta. “Climate change is one of the biggest challenges facing our world today, and we remain committed to driving change in the aviation ecosystem by setting ambitious goals tailored to our unique challenges in the industry. Energy company SSE will spend more than £7 billion over the next five years on clean energy initiatives to boost the UK`s green recovery from Covid-19 and meet its new, stricter climate targets. “By working with SBTi thought leaders and experts, we are ensuring that the goals we have set for ourselves in the short term are rooted in the science needed to limit the rise in global temperatures in the long term,” said Amelia DeLuca, delta`s general manager of sustainability. “We are also having constructive discussions with policymakers in Washington, as the industry cannot significantly reduce its emissions without strong federal climate leadership. E-scooter and e-bike giant Lime has set a net-zero target for 2030 and has announced plans to develop science-based emissions reduction targets in the coming months.

Scientific goals represent a new type of goal setting for many companies and therefore may require careful justification to gain buy-in from all business units and the supply chain. Posting progress over the target period can help stakeholders better understand a company`s progress and efforts before the target deadline is met. In 2018, the Intergovernmental Panel on Climate Change (IPCC) warned that global warming should not exceed 1.5 degrees Celsius above pre-industrial temperatures to avoid the most catastrophic effects of climate change. The economy plays a crucial role in reducing greenhouse gas emissions and building a resilient, zero-emission economy based on science. The UK`s COP26 presidency set out its sponsorship criteria for the conference, saying it only wanted to work with companies with “ambitious” net-zero emissions targets. Banks, investors and insurance companies can now use the Science-Based Goals Initiative (SBTi) to check if their climate goals are aligned with the Paris Agreement. London`s Natural History Museum has set new climate targets, saying there is “no time to lose” in the transition to carbon neutrality. The Velux Group is committed to offsetting 100% of its CO2 emissions in the future and capturing the equivalent of its historical CO2 footprint with nature-based climate solutions by 2041. Companies that have set science targets (SBTs) to address their contribution to climate change are on track to exceed them and reduce their emissions at a rate that goes beyond the goals of the Paris Agreement. The scientific target now covers 20% of the global economy and promotes the decarbonisation of companies.

Between 2015 and 2020, companies with validated targets reduced their emissions by 25%, compared to a 3.4% increase in global energy and industrial emissions. “However, in order to have a chance of limiting warming to 1.5°C, we urgently need to expand the adoption of targets aligned with 1.5°C and consider them consistently. This strategy allows us to systematically provide companies around the world with the most robust framework for goal setting so that companies can confidently adapt to climate science. Reducing greenhouse gas emissions in line with climate science is good for the planet and for businesses. Organizations looking to align their emissions reduction targets with climate science can now access a free guide, edie Explains, which lists everything they need to know about science goals. If the objectives are not approved, companies should review the comments and resubmit them as soon as they are in a position to do so. .