Why take action?
Through the 2015 Paris Agreement, world governments committed to curbing global temperature rise to well-below 2°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C. In 2018, the Intergovernmental Panel on Climate Change warned that global warming must not exceed 1.5°C to avoid the catastrophic impacts of climate change.
To achieve this, GHG emissions must halve by 2030 – and drop to net-zero by 2050. We have limited time for action and the private sector has a crucial role to play – every sector in every market must transform. Companies with science-based targets are already cutting emissions at scale; all businesses must now join them.
Join the companies taking action
We need a race to the top, led by pioneering companies. This will empower peers, suppliers and customers to follow suit and drive governments to take bolder action.
The change has already begun and action is gaining pace. Over a thousand companies worldwide are leading the zero-carbon transition by setting emissions reduction targets grounded in climate science through the Science Based Targets initiative (SBTi). Hundreds of them have raised their ambition by committing to Business Ambition for 1.5°C.
The SBTi defines and promotes best practice in science-based target setting. Offering a range of target-setting resources and guidance, the SBTi independently assesses and approves companies’ targets in line with its strict criteria.
Companies report that adopting a science-based target:
- Boosts profitability
- Improves investor confidence
- Drives innovation
- Reduces regulatory uncertainty
- Strengthens brand reputation
Companies committed to the Science Based Targets initiative are demonstrating that creating a climate-secure world goes hand-in-hand with successful business operations.
The science is clear and urgent action is vital. Setting science-based targets helps mitigate our climate change risks, ensuring our business is resilient and responsive in an ever-evolving regulatory and business environment. Ellen Jackowski Chief Sustainability and Social Impact Officer, HP Inc.