Science Based Target initiative

General

Net Zero

near-term (5-10 years)
long-term (25 years)
does not give the opportunity to offset any emissions
- goal is really to reach net-zero - not climate neutral
residual emissions
- anything after long term goal needs to be offset by Emission Offsetting
  - e.g. carbon capture
- permanently remove CO2eq from atmosphere
beyond value chain
- investments outside of value chain to remove GHG Emissions
- reporting should be annual
ambition levels by sector

select a base year
- GHG Emissions accurate and verifiable
- needs to be representative
- not earlier than 2015
calculate emissions
- full GHG Emissions inventory
- GHG Protocol Standard
set target boundaries
- near term at least 95% reduction in scope 1 and 2
- long term at least 90% reduction in scope 3 + near term goals
- residual with Emission Offsetting
choose a target year
- near term - max 10y from submission date
- long term - max 2050
calculate targets
- mitigation pathway and specific company inputs
- outputs of calculation … minimum requirements

company can submit their climate stats and their planned improvements
they evaluate if their improvements and plans meet the Paris Agreement agreement
they don’t help with the realization, just the setting of the goals
- SBTi can also provide people to help with setting these goals