Full Title: Evidence Synthesis Report Part 1: Carbon Credits
Author(s): Science Based Targets initiative (SBTi)
Publisher(s): Science Based Targets initiative (SBTi)
Publication Date: July 1, 2024
Full Text: Download Resource
Description (excerpt):
In 2018, the International Panel on Climate Change (IPCC) published a report that laid forth a mandate to limit global warming to 1.5°C. It outlined the impact of unmitigated greenhouse gas emissions, detailing the stark contrast between 1.5°C and 2°C of warming. Since the report was released, we’ve witnessed dangerously high ocean temperatures, record-breaking wildfires and deadly flooding across the world. Such extreme weather events are no longer anomalous–they are expected, and they are worsening.
But the window of opportunity has not closed. It is true that each passing year has reduced the likelihood of limiting warming to 1.5°C, but all hope is not yet lost. We still have the potential to take ambitious measures to rapidly cut greenhouse gas emissions–and the private sector will have a crucial role to play in such efforts. Our collective efforts to stem the tide of global warming must include businesses from every sector and across every region setting emissions reduction targets aligned with reaching global net-zero no later than 2050.
That’s where the Science Based Targets initiative (SBTi) plays a role. The SBTi enables companies and financial institutions to understand how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to align with the latest climate science. We develop standards, tools and guidance that allow companies to set emission reduction targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at the latest.