The latest IPCC report tells us we are at a crossroads between a livable future and one characterized by even greater extreme weather, food and water insecurity, and social inequities. Industry-wide systems change is essential, and certain indicators can help track progress.
In the context of corporate sustainability, science-based targets have been a leading indicator of whether a company will meet its emissions-reduction commitments. These are targets aligned with the level of emissions reductions scientists say are necessary for limiting global temperature rise to 1.5 degrees Celsius and preventing the worst impacts of climate change.
According to the 2021 Science Based Targets initiative (SBTi) Progress Report, the 3,000-plus companies taking action with SBTi represent more than one-third of the global economy ($38 trillion) and are cutting emissions twice as fast as what’s needed to limit warming to 1.5 degrees C. SBTi companies have cut their emissions (scopes 1 & 2) by 29 percent since 2015, collectively reducing their CO2 emissions by 53 million tons — equivalent to taking more than 60 million cars off the road. Read more…
