Science Based Targets initiative (SBTi)
Elevate your Environment, Social and Governance (ESG) profile by embarking on the path to a science based targets initiative (Science-Based Net-Zero Target Setting). WIRE consultancy acts as a catalyst in translating your environmental ambitions into tangible, align goals and affirming your commitment to ESG principles.
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What is Science Based Targets initiative (SBTi)?
The Science Based Targets initiative (SBTi) is a global collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) that drives ambitious corporate climate action. It helps companies set science-based emissions reduction targets aligned with the Paris Agreement goal of limiting global warming to well below 2°C, preferably 1.5°C, compared to pre-industrial levels.
Setting the Stage for Transformation through Science Based Targets initiative (SBTi) and Expert
Net-zero has emerged as a paramount ESG objective. With the attention of investors, industry specialists, governments, and the public at large, the imperative is not whether companies should strive for net-zero, but rather, how to navigate this journey effectively and precisely. Whether your organization is initiating decarbonization efforts or seeking guidance to illuminate your value chain’s emissions and propel your strategy, our sustainability experts assist you throughout your decarbonization expedition.
Decarbonization Journey Through SBTi:
- Screening: Leverage expertise and data for GHG boundary definition, screening analysis, benchmarking, and materiality assessment.
- Baseline: Utilize data, software and expertise for GHG inventory, quantification of Scope-1, 2, and 3 emissions.
- Emission Reduction: Harness data and expertise data to analyze energy efficiency, material reduction potential, and product efficiency.
- Target Setting: Employ data and expertise to establish mid-term science based targets initiative (SBTi) and a long-term science based targets initiative – net-zero goal.
- Reporting: Utilize data and expertise to ensure accurate emissions reporting and transparent stakeholder communication.
- Action: Leverage the resources to engage with your supply chain effectively and drive innovative eco-design practices.
The outcome of the established decarbonization path culminates in shaping a climate commitment. This commitment encompasses distinct climate objectives spanning short, medium, and long timeframes, accompanied by the formulation of an ultimate net-zero goal. This specific objective requires validation from recognized benchmarks, notably the science based targets initiative (SBTi), to ensure its accuracy and alignment with scientific standards, adherence to the newly instituted net-zero standards.
Standards Followed
Different standards are adhered to throughout the decarbonization journey:
- CDP (formerly Carbon Disclosure Project)
- ISO 14064 Standards
- Greenhouse Gas Protocol
- Science Based Targets Initiative Net-Zero Standard
Wire Consultancy Offerings
Wire Consultancy offer unparalleled technical assistance and expert resources for science based targets initiative (Science-Based Net-Zero Target Setting) consultancy in pursuit of climate targets. Our support is aligned with the Net-Zero Standard, which comprises four crucial components defining a corporate net-zero target:
- Near-Term Science-Based Target: We aid in formulating 5-10 years emission reduction target that align with the imperative of limiting global warming.
- Long-Term Science-Based Target: Companies are guided to achieve a minimum of 90% emission reduction.
- Residual Emissions Neutralization: For the remaining 10% of GHG emissions not covered by the long-term target, we facilitate neutralization through permanent carbon removal solutions.
- Beyond Value Chain Mitigation (BVCM): Our approach encourages companies to proactively address emissions beyond their value chains.
Leverage our Methodological Expertise
Collaborate with us to develop your Science-Based Targets (SBTs), receiving guidance at each pivotal stage:
- Formulate emissions reduction goals for Scope-1,2 and 3, including near-term science-based targets for tracking progress.
- Establish long-term net-zero target, incorporating target boundaries, year, and calculation methodology aligned with SBTi’s Net-Zero Standard.
- Identify and apply the suitable science based targets initiative net-zero pathway tailored to your company’s requirements.
- Facilitate thorough target submission and validation process between your organization and science based targets initiative.
We offer a comprehensive planning and execution support system facilitated by our expert team, empowering companies to achieve their climate targets through science based targets initiative (Science Based Target Setting) consultancy.
- Initiating with registration and submission of document according with SBTi standard
- Progressing through the science based target initiative Near Term Target Submission and Guidance
- Advancing to the science based target initiative Net-Zero Target Submission
- Assisting with the Target Update and guidance
- Streamline with Target Validation System
Wire consultancy is dedicated to empowering businesses to craft a net-zero tomorrow through SBTi’s science-based principles. From target development to implementation, our experts ensure your journey towards sustainability.
Join us in navigating the path towards a sustainable future by setting and achieving your climate targets with precision and purpose.
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