Yesterday, the Science Based Targets initiative (SBTi) launched the world’s first Net-Zero Standard. Here are the key things you need to know for setting targets in your business.
The SBTi Net-Zero Standard is the first framework for building net-zero targets that are based on climate science. It provides a common, robust framework to support companies in credibly aligning their near- and long-term climate action with the 1.5°C Paris Agreement Goal.
Net-zero emissions are achieved when all GHG emissions caused by humans are balanced out by an equivalent amount of GHG removals over a specified period.
With COP26 around the corner, the release of these standards is timely and welcome. Particularly in a world with varied and sometimes unverifiable corporate sustainability pledges. Companies can already sign up to commit and validate their SBTi targets. SBTi will begin validating net-zero targets in January 2022.
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