In a previous post, we discussed how science based targets (SBTs) align corporate emission goals with a 2°C target. In this piece, we draw on our experience in the field and provide eight steps for generating an SBT.
The Science Based Targets Initiative (SBT-I) is an NGO campaign that drives companies to take bolder action on climate change. The call to action encourages businesses along a route where they go public with signed SBT commitment letters before developing the SBT and corresponding action plans. For this, companies get immediate recognition for climate leadership on the SBT-I website and through the We Mean Business Coalition. Over 300 companies have since made their commitments public.
However this approach has the disadvantage that it requires companies to make a public commitment before understanding what they are getting themselves into. For RESET’s Asian customer base this was a major concern. So for companies who prefer a more cautious approach, we propose a second route where the SBT is pre-cooked internally before any public announcement. The advantage of this method is that companies fully understand what will be required of them before committing themselves publicly.
RESET’s route two to an SBT
- Ensure that a scope 1 and 2 carbon inventory in-line with the Greenhouse Gas Protocol standards is in place. SBTs can only be estimated for companies that have an existing carbon inventory across their entire business.
- Select the right SBT tool. Review the six different modeling tools available on the SBT website and select the tool most suitable for your business.
- Run the SBT tool, plugging in your company data to generate a projected SBT reduction target for your business.
- Contact SBT-I for free informal feedback on whether the SBT target you have modeled is in-line with their requirements.
- Develop an internal SBT roadmap to achieving the SBT target by reviewing and analysing the critical pathways to success. For example, most SBT targets will require an energy efficiency strategy the covers all major business assets. A company view on how to install or procure renewable energy will also likely be required.
- Secure support for implementing the SBT Roadmap from critical internal teams such as the engineering or facility management experts and ensure that the senior management is supportive.
- Submit the SBT for final review and approval by the SBT-I.
- Upon recognition of the SBT by SBT-I, make a public announcement and move into implementation.
With contributions by Roble Velasco-Rosenheim