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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Half of companies with validated targets in services and manufacturing industries
As in 2021 and 2022, the services and manufacturing industries saw the highest numbers of companies setting targets in 2023. With 741 and 568 companies respectively, these industries accounted for 58% of all companies setting targets in the year.
The biotech, health and pharma sector saw the greatest proportional year on year growth (222%) in the total number of companies setting targets, from 23 to 74 companies. This is in contrast to 2022’s data; between 2021 and 2022 the number of companies in this sector increased by just 10%, making it the sector with the tenth highest proportional growth year on year.
Conversely, materials went from first to eleventh place in terms of proportional growth, with a 160% increase in the number of companies setting targets in 2022 compared with 2021 and a 41% increase from 2022 to 2023 (109 companies and 154 companies respectively).