Measurement, reporting and verification (MRV)
About this work
The SBTi has enabled thousands of companies and financial institutions (FIs) to set climate targets and have these targets validated in line with science . It is now essential that these companies are held accountable for delivering on their ambitious emission reduction targets.
The SBTi is researching how companies achieve their targets, in order to determine the parameters that need to be considered for robust reporting and assessment of target progress and delivery, as well as for substantiating claims of target achievement.
This research will focus on two main areas:
Measurement and reporting of target progress: Dedicated to understanding how companies account for and disclose progress against targets in a robust, transparent and consistent manner. This involves identifying the key factors that need to be standardized to ensure consistency in the way companies measure and report progress against targets, considering decarbonization vis-a-vis other factors that lead to a change in estimated and reported emissions including structural, methodological or data variations.
Target performance: Dedicated to exploring the types of interventions that can enable entities to make credible decarbonization claims across different activities and emission sources.
It is important to note that this research is solely for investigative purposes. Any potential strategic decisions or changes to SBTi standards will be subject to thorough consideration, consultation and approval through the SBTi governance structures.
The SBTi is undertaking this work in collaboration with an Expert Advisory Group (EAG). The MRV EAG is composed of technical experts from a diverse range of organizations. These advisors provide technical advice to the SBTi to support the project’s outputs. Membership of the EAG does not constitute formal endorsement of SBTi products. The following individuals are part of the EAG:
Aisha Rodriguez, VCMI
Andres Chang, Greenpeace USA
Ashwin Joshi, BlackRock
Chidi Oti Obihara, Project Drawdown.org
Christina Swanson, retired
Emma Littlewood, Green Element & Compare Your Footprint
Erik Björke, Climate Group
Erin Laude-Durham, Jacobs
Fouad Khan, Deloitte
Helen Droz, MSCI
Holger Hoffmann-Riem, Go for Impact
Jannik Giesekam, University of Strathclyde
Junfeng Zhao, GSG
Kae Takase, Renewable Energy Institute
Kevin Treco, Lloyds Banking Group
Kyra Appleby, Climate champions team
Lia Nicholson, Terrascope
Marta Iglesias, The Carbon Trust
Mary Stewart, Energetics
Natasha Matic, Global Commons Alliance Accountability Accelerator
Paola Delgado Luna, Science Based Targets Network
Peggy Kellen, Center for Resource Solutions
Ronan Hodge, Glasgow Financial Alliance for Net Zero
Simone Kramer, Net Zero Data Public Utility
Sven Lundie, ERM
Tanja Havemann, Clarmondial
Thapelo Letete, Zutari
Research Paper with EY
Our new research paper ‘Landscape analysis: Measurement, Reporting and Verification of Science-Based Targets’ maps the existing landscape and identifies current leading practices of MRV. This work has been co-authored with EY.
Effectiveness of the Use of Environmental Attribute Certificates in Corporate Climate Targets: The SBTi has opened a call for Evidence that aims to help the corporate climate action ecosystem understand whether different instruments can credibly drive decarbonization and support corporate emission reduction claims.
SBTi Monitoring Report 2022 - Progress dashboard: For the third year, the SBTi carried out an annual review and disclosure exercise of publicly available self-disclosed data on progress against approved science-based targets. The results of this review were incorporated into an online progress dashboard in both digital and downloadable spreadsheet formats, allowing stakeholders to easily explore the progress data of companies with science-based targets.