Adoption of a "science-based target" as a tool to obtain a competitive advantage in the transition to a Carbon Neutral economy.
The Science-Based Targets (SBT) are GHGs reduction targets whose scope is toreachthe decarbonisation level required to keep the global temperature rise below 1.5 ° C, as outlined in the Fifth Assessment Report of the 'Intergovernmental Panel on Climate Change (IPCC), and in the Paris Climate Agreement.
The initiative was born with the intention of guiding companies in defining ambitious climate change mitigation objectives to ensure that their Climate Action is in line with scientific objectives.
Three different approaches are considered by companies in order to translate climate change mitigation aims into targets of emissions reduction. Different approaches correspond to diverse specific targets.
Fixing challenging targets stimulates the adoption of innovative technologies and processes, placing companies in a leadership position.
Ambitious targets foster trust of investors, clients, employees and environmental organizations.
Stategically managing climate change risk offers advantages over competitors and can positively impact the budget.
Developing and validating science-based targets is a leadership practice recognized by CDPscoring system.
Businesses anticipate future regulations and acquire a privileged role in the development phase of new legislations.