The Imperative of Science-Based Targets: A Pathway to a Sustainable Future
As we stand at a critical juncture in the fight against climate change, warnings from the United Nations serve as a stark reminder of the urgency of our situation. Current trajectories suggest that greenhouse gas emissions will remain largely unchanged by 2030, a timeframe in which we must cut emissions nearly in half to avert irreversible and catastrophic consequences. In this context, the role of businesses is pivotal; their engagement in the fight against climate change can make a substantial difference, but only if their commitments are backed by credible, actionable plans.
The Need for Immediate Action
A recent study from the New Climate Institute revealed a concerning statistic: only 8% of companies with net-zero targets have established interim targets to guide their progress. This gap indicates that many organizations are making long-term promises without the necessary short-term plans to achieve them. To genuinely contribute to climate solutions, businesses must prioritize setting measurable and achievable interim goals.
Understanding Science-Based Targets
Science-based targets provide a framework for companies to align their emissions reductions with what climate science indicates is necessary to meet the goals of the Paris Agreement. These targets aim to limit the increase in global average temperatures to well below 2 °C, with aspirations to restrict the rise to 1.5 °C. By assessing their carbon footprints and committing to these targets, companies can chart a credible path toward significant emissions reductions.
The evidence supporting the effectiveness of science-based targets is compelling. According to the United Nations Global Compact, between 2015 and 2019, 338 corporate pioneers who adopted these targets collectively reduced their annual emissions by 25 percent.
This reduction is equivalent to the annual emissions produced by 78 coal-fired power plants. Such achievements demonstrate that with the right commitments, businesses can have a profound impact on climate mitigation.
The Path Forward: Decarbonization Plans & Reporting
To meet these challenges, businesses must take immediate steps:
Baseline Emissions and Develop Decarbonization Plans: Organizations should prioritize the creation of comprehensive plans detailing how they intend to reduce emissions across their operations.
Set Ambitious, Short-Term Science-Based Targets: Establishing interim goals allows companies to track progress and adjust strategies as needed, ensuring they stay on course toward long-term objectives.
Implement Decarbonization Plans: Companies need to have the leadership buy-in, change management practices, resources, tools and processes in place to implement enterprise-wide decarbonization plans to make year-over-year improvements.
Transparent Reporting: Companies must be accountable for their climate commitments by regularly reporting on their progress. Transparency fosters trust and encourages collaboration within and across industries.
A Collective Responsibility
The call for businesses to join the climate fight is not just a plea for corporate responsibility; it is a necessity for the sustainability of our planet. By adopting science-based targets and implementing actionable emissions reduction plans, companies can play a crucial role in driving the transition to a net-zero future.
The time to act is now. Our planet's future—and our collective prosperity—depends on it.
Avoiding Greenwashing Guide
Accusations of greenwashing aren't just a hit to reputation; they present a new area of measurable and material financial risk for companies. It's about ensuring your statements aren't just words but are rooted in accuracy, transparency, and backed by credible evidence.
Download our guide which will introduce you to evaluating your marketing, communications, and report materials for greenwashing.
Click here to download our Guidebook.
The Uplift Agency
Uplift builds strategies, programs, and communication campaigns that advance ESG in workplaces, supply chains and communities.
We know how to navigate the road ahead because we’ve already been down it – 90 percent of our team has led environmental or social programs in corporations or nonprofits. Because ESG is all we do, our services are more comprehensive and integrated than most firms.
