Science Based Targets initiative

📢 LAUNCHED TODAY! 📢 The SBTi has released our Monitoring Report 2023, showcasing significant milestones in global corporate climate action. The report finds continued growth across key metrics including global growth of companies with validated targets, market cap penetration and global reach. Key findings include: ↗ The number of companies with science-based targets increased by 102% in 2023, driven notably by robust expansion in Asia. 🗾 Japan emerged as the global leader in science-based target setting, surpassing the UK and US with a total of 768 companies with validated targets. 🌏 India experienced a 520% increase in companies setting science-based targets in 2023 compared to 2022. 📈 Companies with validated targets or commitments reached 39% of the global market cap, increasing two percentage points from 2022. 💊 The biotech, healthcare, and pharma sector saw the most substantial growth in target setting, with a 222% increase, while materials industry growth slowed to 41%. Luiz Fernando do Amaral, CEO of SBTi, emphasized the report's findings, stating, "The deepening foothold of the SBTi in global markets, especially the Global South, demonstrates a growing understanding of companies of what is required of them to meet the aims of the Paris Agreement. We must now fight harder than ever to keep those aims alive, so I call on companies everywhere to set targets and report against them as a matter of urgency.” Find out more: https://lnkd.in/eYP7CE3S #SBTiScaleUp #ClimateAction #SBTiProgress

🎯We are thrilled to announce that over 100 Latin American companies have set science-based targets through the SBTi! This achievement highlights the growing dedication of businesses in the region to tackling the climate crisis. Of the countries where these companies are headquartered, Brazil leads with 41 companies, followed by Mexico with 22, Chile with 20, and Colombia with 4. Argentina, Bolivia, Costa Rica, Ecuador, Guatemala, Peru and Uruguay also now have companies with approved targets. In other good news for the region, our 2023 Monitoring Report found Mexico to have the second highest growth among G20 countries in terms of companies with approved targets in the year (450%). We look forward to seeing more companies across the LATAM region following their lead by setting targets this year! 👉Explore the 2023 Monitoring Report here: https://lnkd.in/gGuUpAYE #SBTiProgress #SBTiScaleUp #ScienceBasedTargets #LATAM 🎯¡Estamos muy emocionados de anunciar que más de 100 empresas latinoamericanas han establecido objetivos basados en ciencia a través de SBTi! Este logro es una clara muestra del creciente compromiso que tienen las empresas de la región para hacer frente a la crisis climática.  De los países en donde estas empresas tienen su sede, Brasil lidera con 41 compañías, seguido por México con 22, Chile con 20 y Colombia con 4. Argentina, Bolivia, Costa Rica, Ecuador, Guatemala, Perú y Uruguay también cuentan con empresas que tienen objetivos validados. En otras buenas noticias para la región, nuestro 2023 Monitoring Report identificó que México tuvo el segundo mayor crecimiento entre los países del G20 en términos del número de empresas con objetivos validados durante el año (450%). ¡Esperamos ver a más empresas en toda la región de LATAM siguiendo su ejemplo y fijando objetivos este año! 👉Explora el 2023 Monitoring Report aquí: https://lnkd.in/gGuUpAYE 🎯É com alegria que anunciamos que mais de 100 empresas latino-americanas tiveram suas metas baseadas na ciência aprovadas pela SBTi! Essa conquista destaca a crescente dedicação das empresas da região ao enfrentamento da crise climática. Dos países em que essas empresas estão sediadas, o Brasil está na liderança, com 41 empresas, seguido pelo México, com 22; Chile, com 20 e Colômbia, com 4. Argentina, Bolívia, Costa Rica, Equador, Guatemala, Peru e Uruguai também têm empresas com metas aprovadas. Em outra ótima notícia para a região, nosso Relatório de Monitoramento 2023 (2023 Monitoring Report) constatou que o México teve o segundo maior crescimento entre os países do G20 em termos de empresas com metas aprovadas no ano (450%). Esperamos que mais empresas latino americanas sigam pelo mesmo caminho e estabeleçam metas em 2024! 👉 Acesse o SBTi 2023 Monitoring Report aqui: https://lnkd.in/gGuUpAYE

🌿Our partner the Science Based Targets Network has released new and updated guidance for companies to set science-based targets for nature. Science-based targets for nature enable companies to comprehensively address their impacts across biodiversity, land, freshwater and oceans. The new guidance is informed by a year-long pilot and enables companies to set targets for freshwater and land systems. The SBTN has also developed new resources to improve accessibility and drive action, including a comprehensive corporate manual providing entry-point into the technical guidance. 👉Explore the latest updates and resources:  https://lnkd.in/gSzA6Yb9 #SBTN #ScienceBasedTargets #ForNature #NaturePositive

🎯 Our target dashboard has been updated! There are now more than 5,730 organizations with validated science-based targets, and over 8,510 with targets or commitments to set them. 🙌 Congratulations to all of these for their commitment to robust, credible action to reduce greenhouse gas emissions! Head to our website for more information about the targets and commitments of all organizations setting science-based targets. 👉 https://lnkd.in/d6-Ef-3J #SBTiScaleup #sciencebasedtargets

📢The SBTi July Newsletter is here! In this month’s edition, learn about changes in SBTi's leadership, discover the SBTi Monitoring Report 2023, get involved in Expert Advisory Groups in various sectors and more. * Note: A previously published July newsletter contained an error. Please disregard it and see the updated newsletter below.*

📢The SBTi is inviting financial institutions (FIs) worldwide to pilot the upcoming draft Financial Institutions Net-Zero (FINZ) Standard. The FINZ Standard will provide a framework for FIs to effectively develop and integrate net-zero targets into their operations and portfolios. Participants in the pilot will have a unique opportunity to create test-version science-based targets  This process will help refine and enhance the draft standard before its official release. Participants may use insights and learnings from their experience to formally submit targets for SBTi validation following the pilot. Key details: 📅 Pilot Start Date: August 19th, 2024  📝 Application Deadline: August 9th, 2024 👉Head over to our website to learn more about the pilot's objectives, selection criteria and requirements, and to apply: https://lnkd.in/gBQNTC24 *Please note: Targets developed through the pilot test will not constitute formally validated science-based targets.* #SBTi #FINZStandard #NetZero #FinancialInstitutions

🤔 Interested in learning about how the SBTi develops our standards? The SBTi has a step-by-step process for developing standards. Only when this process has been completed can a standard be released for businesses to adopt and set science-based targets against. This ensures our approach is in line with best practice for standard-setting organizations. In this blog, Alberto Carrillo Pineda, SBTi’s Chief Technical Officer, outlines the eight stages of our Standard Operating Procedure for the Development of SBTi Standards. 👉Read the blog here: https://lnkd.in/eD7HcTan #sciencebasedtargets #SBTi #SOP #netzero

What exactly is a standard? What does it mean for the SBTi to become a standard-setter? And why is it important for the future of corporate climate action? Since announcing plans to become an independent entity, the SBTi has been on a journey from a partnership initiative to a formal voluntary standard-setter. This enables the SBTi to play a more influential role in shaping corporate sustainability practices, driving innovation, and accelerating measurable progress towards a more sustainable future. In this blog, SBTi Chief Technical Officer Alberto Carrillo Pineda explains the concept of standard-setting and the pivotal role standard-setters can play in corporate climate action. Read the blog here: https://lnkd.in/eRcy3CXY #SBTi #SBTiScaleUp #Standards #climateaction

🎯 Our target dashboard has been updated! There are now more than 5,690 organizations with validated science-based targets, and over 8,475 with targets or commitments to set them. 🙌 Congratulations to all of these for their commitment to robust, credible action to reduce greenhouse gas emissions! Head to our website for more information about the targets and commitments of all organizations setting science-based targets. 👉 https://lnkd.in/d6-Ef-3J #SBTiScaleup #sciencebasedtargets

Our new Monitoring Report finds that Asia had the second highest proportional growth in the number of organizations setting science-based targets in 2023. Key findings include: 📈 741 companies headquartered in Asia set science-based targets, a 140% increase from 2022. 🌏 Asia now hosts 27% of all companies with targets and commitments (2015-2023), demonstrating significant regional leadership. 🇯🇵 Japan led globally with 453 companies setting targets in 2023, showing 124% growth on the previous year 🇮🇳 India saw the steepest growth with a 520% increase in companies setting targets compared to the previous year. 🔗 Growth in India's target-setting can powerfully impact scope 3 emissions globally, given its role in global value chains. Head over to our website to read the full report and explore more regional data about science-based targets in 2023: https://lnkd.in/gGuUpAYE