US Government - the world’s largest purchaser - takes a bold step to align supply chain with SBTi
11th Nov 2022
The Federal Government is the world’s single largest buyer of goods and services - purchasing more than $630 billion in the last fiscal year alone. In the proposed rule, federal contractors must have science-based emissions reduction targets in line with the SBTi and disclose environmental impacts through our founding partner CDP.
Companies that want to get ahead of this rule can commit to setting a target today. The SBTi has developed robust methods, guidance and standards over the past seven years to support companies across sectors, including heavy emitters, to set climate targets in line with science.
Luiz Amaral, CEO of the SBTi, said: “We are seeing a wave of exciting announcements from countries worldwide: Norwegian state-owned companies must set science based targets, UK firms must commit to net-zero to win government contracts. Now, the Federal Government - the world’s largest purchaser - has taken a bold step to align its value chain with science-based decarbonization.
“The impact of these game-changing developments cannot be overstated. I am looking forward to working tirelessly to help turn this wave of proposals into a tsunami of climate action.”
The rule is now going through a 60-day public comment period. Those interested in championing corporate climate action in line with science should submit their views before 13 January 2023.
The SBTi is calling on governments across the world to follow the lead of countries such as the US and Norway, where all Norwegian state-owned companies, many of the largest in the country, must set science based targets.
Information on setting a science-based target is available here. Any questions? Contact our team.