The Science Based Targets Initiative (SBTi) has reported on the impacts of four years of work with businesses to set emissions reductions targets. The report findings amount to “a clear signal that the transition to a low-carbon economy is underway,” SBTi argues, as private sector action can lead governments to set more ambitious policies and regulations.
SBTi is a collaboration between CDP, the UN Global Compact, World Resources Institute (WRI) and World Wide Fund for Nature (WWF). Since its launch in 2015, over 680 companies have made a commitment to set science-based targets. Each participating company develops targets in a 24-month process and submits them to SBTi, which assesses them against scientific criteria.