![]() ![]() For 28% of companies, no public information on progress against their targets was found, highlighting the need for harmonized reporting against science-based targets. There is, however, a gap in reporting practices: of the 692 companies included in this year’s analysis, 46% of companies reported progress on all targets, while 26% reported progress on at least one target. A typical SBTi-approved company has been even more ambitious than the 1.5✬ trajectory, with a linear rate of 8.8% scope 1+2 reductions a year during the period with approved targets. Beyond the impact of COVID on global emissions, this demonstrates that SBTi companies have delivered excess reductions in comparison to their peers within their countries.Īn annual 4.2% emissions reduction is required for a 1.5✬ alignment for science-based targets. This resulted in a total-emissions decrease of 29% between 20 (compared to 25% between 20). ![]() ![]() SBTi companies with approved targets are reducing emissions at an accelerating pace, collectively achieving 12% scope 1 and 2 emissions reduction in 2020. Sectorally, heavy-emitting industries continue to be under-represented. A very high proportion of targets are from companies in Europe, North America and Japan, with relatively few elsewhere in Asia, Africa and Latin America. These numbers clearly show the appetite, and the potential, for companies to tackle the climate crisis via science-based targets – but considerably more action is still required. ![]() The most impactful companies are now setting science-based targets as the SBTi reached a ‘critical mass’ globally and in key regions, with 27% of high-impact companies – representing the largest companies by market capitalization and emissions – setting science-based targets worldwide. Encouragingly, 96% of SBTi companies with approved science-based targets have targets covering scope 3 emissions. Nearly two-thirds (63%) of companies with 1.5☌-classified targets say they intend to cut their emissions at higher rates than is required. Driven by the SBTi’s Business Ambition for 1.5✬ campaign and the SBTi ambition update, the majority (80%) of companies with approved targets in 2021 were in line with a 1.5✬ trajectory. ![]()
0 Comments
Leave a Reply. |