In order to achieve the 2 °C target, which is politically, socially and economically gaining support as a means of keeping global warming within feasible boundaries, no more than approx. 1.000Gt of CO2 should be released into the atmosphere, according to IPCC climate scientists. If emission reductions remain unchanged, this budget would be exhausted by 2037, with a 66% certainty. With the aim of reducing global warming to 1.5 ° C, the budget would be exhausted by 2021.
What if the global CO2 emissions budget could be distributed amongst all economic actors in a fair way? Could companies, including their stakeholders, have access to transparent information regarding the dimension of their specific contributions towards achieving this global goal?
Science-Based-Targets ("SBT") are designed to provide companies with exactly the same scenario. Companies thus have the opportunity to integrate market-driven, socio-economic and political changes, which are consistent with the globally agreed 2 °C target, in a timely manner.
Conventionally defined targets are determined according to each individual company’s potential contribution to climate change. They are thus generally too weak to fairly contribute to global climate targets. Science-based emissions targets are determined according to what climate scientists have identified as the remaining global carbon budget if the 2°C target is to be reached. Science-based targets thereby describe the necessary contribution of a single company in order to reach the overall target of preventing average global temperatures from rising more than 2°C.