The Science Based Targets initiative champions science-based target setting as a powerful way of boosting companies’ competitive advantage in the transition to the low-carbon economy.
It is a collaboration between CDP, the United Nations Global Compact (UNGC), World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments..
- Showcases companies that set science-based targets through case studies, events and media to highlight the increased innovation, reduced regulatory uncertainty, strengthened investor confidence and improved profitability and competitiveness generated by science-based target setting.
- Defines and promotes best practice in science-based target setting with the support of a Technical Advisory Group
- Offers resources, workshops and guidance to reduce barriers to adoption
- Independently assesses and approves companies’ targets
Institutionalizing science-based targets:
The initiative’s overall aim is that by 2020, science-based target setting will become standard business practice and corporations will play a major role in driving down global greenhouse gas emissions. Embedding science-based targets as a fundamental component of sustainability management practices is crucial in achieving this.
Science-based target setting is already becoming part of the yearly reporting practice of companies and the data infrastructure for institutional investors through incorporation in the CDP questionnaire and scoring.
The Science Based Targets initiative supports the integration of science-based target setting into existing climate leadership platforms including UN Caring for Climate, WWF Climate Savers and others. Science-based targets are included in CAIT climate data.