Science-Based Targets (SBTi)
After the Paris Climate Summit, countries got together on climate change and started to take some measures to prevent the problem through the Science-Based Target initiative (SBTi). SBTs aim to reduce climate change and its effects, which is a global problem, with the awareness that companies will create on this issue. In order to prevent global temperature rise, companies need to act!
SBTi For Metsims :
To leave a lower carbon footprint in the carbon market, companies now oblige themselves to calculate their carbon footprint. Many companies show that they can grow profitably while reducing their carbon footprint.
The Science-Based Target initiative means that companies sign up to promise how much they will reduce their greenhouse gas emissions in a certain period. In doing so, they become a part of the solution, and they directly contribute to the reduction target of 1.5 to 2 degrees on climate change. In short, the goal you set and the promise you make have a meaning.
Be Open to Innovation
The transition to the low carbon market will facilitate the development of new technologies and operational practices. Companies that have already set ambitious goals will lead innovation and transformation in the future.
Become one of the leading companies influencing the regulations to limit greenhouse gas emissions, and shape the legislation.
Increase Investor Confidence
Many consumers worldwide know that climate change will negatively affect their lives, and their awareness is increasing. Stakeholders – including companies, investors, customers, employees, policymakers and environmental groups who are leaders in climate change mitigation – will all shape the future. Let your company stand with them.
Increase Profitability and Competitiveness
You will need to be a strong company when resources are scarce and raw materials are getting more expensive. You must be able to turn the rise in raw material prices into profit.
What are the SBTi Stages?
State Your Intention Develop Your Goal Submit Your Goal to SBTi Announce Your Goal Report Your Progress