13 October 2022

The SBTi and its implications for global decarbonisation

15 mins

Since its launch in 2015, the number of companies committing to set science-based targets and having these approved by the Science Based Targets initiative (SBTi) has grown exponentially. However, as the organisation's momentum has grown, so too has the scrutiny around its methodology and criteria.

BeZero Carbon has published a report that looks at how the SBTi could evolve its framework, harnessing its scale and influence to deliver further impact against the Paris Agreement goals.

According to the report, the areas most in need of evolution are:

  • Accounting discrepancies

  • Shifting baselines

  • Missing methodologies

  • Target implementation challenges

  • Lack of clarity around the use of the Voluntary Carbon Market (VCM)

Notably, the report recommends that the SBTi provides clear and robust guidance for companies to use carbon credits as part of its framework. It also recognises that in order for the SBTi to have trust in the VCM, the market itself must evolve to address the concerns around its integrity. At the same time, in order for the VCM to scale effectively, it needs the support of corporate buyers and the frameworks that those companies rely on. As an organisation of vast scale and influence, the SBTi has a responsibility to improve corporate confidence in the VCM by providing clear guidance on its effective use.

Report by Louisa O’Connell

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