We encourage financial institutions and companies from all sectors and of all sizes to develop science-based targets. We acknowledge differences between business areas, which is why we offer sector-specific guidance and a streamlined SME route.
The SBTi is especially keen to welcome companies in the highest-emitting sectors, who play a crucial role in ensuring the transition to a zero-carbon economy.
The current exceptions are fossil fuel companies and automakers:
The SBTi reserves the right to perform due diligence before and after accepting new commitments and while reviewing submitted targets.
The SBTi does not currently assess targets for cities, local governments, public sector institutions, educational institutions or non-profit organizations. However, we encourage these stakeholders to consider science-based target setting methods on their own. Cities can register their interest in setting targets through the Science Based Targets Network (SBTN).
We strongly encourage companies to follow the step-by-step process and commit to developing a target before submitting one for validation.
By committing to set science-based targets before submitting targets for validation, organizations are recognized as “committed to setting a science-based target" on our website, as well as the We Mean Business Coalition website. Companies participating in the UN Global Compact will also be recognized on their website.
The SBTi had previously accepted commitments from all companies in which a sector development was underway. The O&G sector was treated similarly to other sectors. However, from the project work carried out thus far it has become apparent that science-based emissions reductions for the O&G sector and broader fossil fuels sectors are complex and the SBTi is taking a cautious and deliberate approach. As always, our aim is to develop robust methodologies that will support decarbonization at the pace and scale required by science.
The SBTi has historically validated targets from automakers in line with previous SBTi criteria, where scope 3 targets covering ‘use of sold products’ have been required to meet the minimum level of ambition determined by the SDA Transport tool, covering well-to-wheel (WTW) emissions of sold vehicles, and aligned to the required pathways. No new targets were validated under 1.5C pathways for automakers and will not be until the interim 1.5C pathway for automakers is released. As per the SBTi Criteria Assessment Indicators, companies with approved science-based targets must review, and if necessary recalculate and revalidate, their targets at a minimum every five years, following the most recent applicable criteria at the time of resubmission.
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