Understanding Science-Based Targets and SBTi

What are Science-Based Targets?

Science-Based Targets (SBTs) offer businesses a clear path to reduce greenhouse gas (GHG) emissions. These targets align with global climate goals, validated by the Science-Based Targets initiative (SBTi). This global organization helps companies set emission reduction targets that follow the Paris Agreement. The main goal is to limit global warming to 1.5°C above pre-industrial levels.

For small and medium-sized enterprises (SMEs), this typically involves:

• Committing to reduce emissions by at least 42% by 2030

• Planning and executing credible actions recognized by investors, customers, and regulators

• Future-proofing the business in a transitioning low-carbon economy

  
  

Why Set Science-Based Targets?

Establishing a science-based GHG reduction target is vital for your business. It helps you:

• Stay Competitive: More companies and insurers now require suppliers to set climate targets.

• Win More Business: Investors and customers increasingly favor climate-conscious businesses.

• Reduce Costs & Risks: Strategies focusing on energy efficiency and low carbon can lead to savings in the long term.

• Prepare for Regulations: Countries like Canada are tightening climate disclosure rules, making compliance essential.

  
  

Steps for SMEs to Set a Science-Based Target

Setting a Science-Based Target (SBT) is a straightforward process for SMEs, thanks to the SBTi’s streamlined approach. Companies that meet SME criteria—less than 10,000 tCO2e in Scope 1 and 2 emissions, fewer than 250 employees, an annual turnover below €50 million (~74 million CAD), and total assets below €25 million (~37 million CAD)—can follow these steps:

1. Register

Create an account on the SBTi Services Validation Portal. This confirms eligibility and classification as an SME.

2. Develop

Calculate your GHG reduction targets. Align these targets with the 1.5°C pathway using SBTi criteria and tools.

3. Submit

Upload your targets for validation through the SBTi Services Validation Portal. A fee of $1,250 USD applies.

4. Communicate

Once validated, publicly announce your targets. Use the SBTi website and your stakeholder communications for this purpose.

5. Disclose

Annually report emissions and progress towards your targets. Use your company's website, sustainability reports, CDP, or CSRD disclosures.

Support from Achieve Sustainability

At Achieve Sustainability, we support SMEs in setting and achieving science-based targets. Our experienced team guides businesses through assessing emissions, setting and submitting targets, and developing practical reduction plans.

Why Choose Us?

Choosing Achieve Sustainability means access to expert consultations tailored for your needs. We understand that this journey can be complex, but we're here to simplify it for you. Our team ensures you get the guidance necessary for success.

Let’s Get Started!

Don’t wait to start your sustainability journey. Reach out today to schedule a complimentary consultation!

Setting science-based targets is not just a trend; it's a necessity for the future. Embrace it today with our assistance and work towards a sustainable, profitable business model. By doing so, your company can play a significant role in combating climate change, making a positive impact on the planet and future generations.

Incorporating science-based targets will not only benefit your company but also contribute to the larger goal of a sustainable world. As we face the challenges of climate change, businesses like yours can lead the way. Join the movement for a better tomorrow by setting your targets today!