Bezos Earth Fund invests in the exponential growth of science-based targets
13th Sep 2021
At the Science Based Targets initiative (SBTi), we have big ambitions to help exponentially increase the number of companies setting ambitious and concrete science-based emissions reductions targets for the next decade.
To support this mission, we are pleased to have secured a new grant from the Bezos Earth Fund. The three-year grant will help us deliver on the new SBTi strategy to make 1.5°C the central ambition in our target setting framework, and deliver new governance and operational models to further increase our independence, robustness and credibility.
The new strategy is a direct response to increasing urgency for climate action. Last month’s IPCC report was clear that every country, company and individual must urgently play their part in limiting warming to 1.5°C. We have the time to do so, but only just.
The grant from the Earth Fund will strengthen our organization and target-setting framework for corporations and financial institutions. It will provide us with the strong foundation we need to accelerate the scale and pace of corporate science-based targets across all sectors and geographies.
Launched in 2020, the Bezos Earth Fund is a $10 billion commitment to fund scientists, activists, NGOs, and private-sector efforts taking critical action to preserve and protect the natural world. Its objective is to strategically invest in innovative programs - like the SBTi - that will create catalytic change in how we live and drive rapid emissions reductions to protect against the worst impacts of climate change.
Proven emissions reductions
Companies with science-based targets cut emissions by 25% on average between 2015-2020. What’s more, these companies are now on track to halve emissions between 2020-2030 - exactly the rate required by climate science.
As we enter the next phase of the initiative, our goal is to drive an exponential increase in the number of companies setting science-based targets. Our aim is to enable even greater emissions reductions, because much more action is needed if we are to stand a fighting chance of achieving net-zero before 2050.
Join the race to net-zero
There is no time to lose. Accelerating ambitious climate action from businesses across all sectors and geographies is vital if we are to achieve the goals of the Paris agreement, halve emissions in the next eight years and maintain a habitable planet for humankind.
To join us in the race to net-zero, get in touch today by emailing [email protected].