SBTi Monitoring Report 2023
The SBTi Monitoring Report 2023 highlights key trends in companies and financial institutions setting science-based targets, along with the SBTi’s major updates and publications during the year.
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Data sources
The analysis included in this report presented in the form of texts, graphs and tables is based primarily on data from the following sources:
- Information on companies with validated targets and commitments was extracted from the SBTi target dashboard as of December 31, 2023 and December 31, 2022 for growth comparison.
- For the year-on-year analysis, the snapshots of SBTi target dashboard (legacy version) were extracted as a snapshot at the end of each year since 2015.
- Industries were defined by assigning each company sector as reported to the SBTi under an industry category from CDP’s Activity Classification System (CDP-ACS)
- Market capitalization data for companies with commitments or validated science-based targets, as well as estimated global market capitalization was retrieved using LSEG Datastream by Oliver Wyman. The data was extracted for all publicly available companies as of December 2023 (2014 companies from 2023 SBTi target dashboard) and December 2022 (1634 companies from 2022 SBTi target dashboard).
- Composition of G7 equity indexes was retrieved from public sources with the date of December 2023.
Methodological approach
- Annual cumulative number of companies with science-based targets over the years and total number of companies were calculated using the snapshots of the SBTi target dashboard at the end of each year. Note that removed companies are included in the years their targets were active.
- Figures showing the numbers of companies with validated science-based targets in 2023 and 2022 include companies setting targets for the first time and updating their previous targets in the corresponding year.
- All data points showing commitments data exclude companies with removed commitments. Companies that have both committed and set a target are only counted as a company setting a target, including the cases when a company has an active, more ambitious commitment (e.g. near-term target and net-zero commitment).
- Market capitalization coverage from SBTI computed using the sum of SBTI listed companies market capitalization and total global market capitalization data as of end of December. 2022 and end of December 2023. SBTI companies’ market capitalization has been found using companies’ names, ISIN and LEI.
