How do you prioritise your focus?

With so many questions about emissions from regulatory requirements to customer expectations, how do you universally establish your company’s alignment with net zero? Gain credit for work you will do to reduce emissions, setting a Science Based Target is a great next step. Here’s why:

1

Brand Leader

Setting science-based targets allows you to position your brand as a true sustainability leader committed to reducing emissions, not just offsetting them.

2

Recognisable standard

You’ll join a remarkable group of over 7,000 companies committed to science-based reduction targets, the universal standard for net zero aligned corporate strategies.

3

Boost Revenues

According to SBT, a whopping 79% of corporate executives surveyed have experienced a significant boost in their company’s brand reputation by setting an SBTi.

IN THE KNOW

The who, what and how of setting an SBTi

As a universal standard for corporate commitment to decarbonisation, setting a Science Based Target is an involved process built on an accurate and complete emissions inventory. Here’s an insight into what it takes to set a verified reduction target.

What is an SBT?

Targets provide a public barometer on a company’s climate action. Currently, no carbon targets are more public or binding than those set with the Science Based Target Initiative (SBTi).

Science-based targets (SBTs) are based on a global carbon budget allocation that keeps temperature rise below 2ºC. But as of July 2022, the expectation is for companies to go one step further and keep temperature rise below 1.5ºC.

Companies commit to near, mid and long-term emission reduction targets that have been rigorously tested to assure they are attainable and realistic, with the majority driving towards net zero.

Targets should cover at least 95% of the company’s scope 1 and 2 emissions and 90% of scope 3 emissions.

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What’s needed to set one?

To set a Science based target you will need one key thing accurate emissions data to establish a realistic, ambitious and rigorous target.

A target is set and verified against your baseline emissions for a year. A complete emissions inventory should include:

  • Scopes 1, 2 and 3 emissions
  • Beyond spend-based calculations
  • GHG Protocol aligned carbon accounting methodology

Before taking your first steps it’s important to ensure you have buy-in from senior colleagues across the company.

With a time limit on the commitment phase of setting a Science Based Target of just two years, you’ll need to gather accurate data from across your operation and supply chain in a timely and repeatable way.

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How do you set them?

Five steps defined by the SBTi on how to set an SBT: 

  1. Commit- By submitting a standard commitment letter to the SBTi. Companies then have 24 months to develop their target.
  2. Develop your target- to meet the Net Zero Criteria. These targets cover a minimum of 95% of scope 1 & 2 emissions and 90% of scope 3 emissions.
  3. Submit- The company submits their target for validation. What they SBTi are looking for:
    • An ambitious target, correct timeframe for near and far-term targets, and sufficient coverage across all three scopes.
    • Confidence that the GHG baseline is appropriate (e.g. it does not include offsets or avoided emissions) and captures the entire material value chain.
  4. Communicate- Companies must publicly announce their targets themselves within six months of approval (SBTi publish on their site within one month).
  5. Disclose- companies must report on their GHG footprint and progress towards target(s) annually.

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1 in 4 Emitwise customers has successfully set an SBT…

Driving Financial Efficiency

Benefit from Expert Support

Strengthening Brand Image

Join them as a verified leader in decarbonisation.

Data you can trust to set an SBT

Emitwise will calculate a complete, GHG Protocol compliant emissions baseline, quality assured by carbon accountants once a year.

You can progress to setting a target safe in the knowledge that your Scope 1, 2 and 3 emissions are calculated at a line item granularity, using the most accurate calculation methodology your data allows, in a seamlessly repeatable way.

Streamlined data collection for repeatability

Setting an SBT requires continuous reporting, as does general compliance with the increasing number of carbon regulations globally.

With data collection often perceived as the heavy-lifting part of carbon accounting, we’ve created our own tools to make it simple and seamless so it doesn’t get in the way of your climate action.

Plus, we support integrations with other software to remove any burden.

Audit-Ready calculations

Carbon accounts are facing increasing scrutiny, which is why our calculation engine is transparent and fully auditable, with open methodologies and clear audit trails from data in to calculation out.  

The machine learning software calculating your emissions was trained by real carbon accountants, but as an extra level of assurance one of our carbon accountants will quality assure your emissions calculations once a year to ensure confidence in your carbon footprint.

Your dedicated Carbon Accounting analyst can provide up to 15 hours of auditing support.

Custom Dashboards:

Creating and continuing buy-in from across the company to achieve your science-based reduction targets requires storytelling, and often visualisations can speak a thousand words. So, tailor your data visualisation and reporting with customisable dashboards.

Our data can also be easily exported and plugged into company-wide visualisation tools like PowerBi.

Reduction Target Setting and Tracking:

Visualise and test targets using our software functionality, then, when verified, track and monitor your progress within the platform, reporting back to the SBT easily.

Expert support in defining your target

We provide an add-on service through our consulting partners to support you in crafting a target for validation from your Emitwise calculations and facilitate the submission process with the SBTi.

From $5,000

Support Is Never Far Away

Availability: Monday to Friday, 9am – 6pm support via phone, email, or live chat.

Personalised Assistance: Dedicated Account Manager and Carbon Accounting Analyst.

Inclusive Support: Technical implementation support, status updates, platform walk-throughs, and data quality improvement workshops.

Other Features

  • Gap analysis modelling
  • Emissions Calculations Report
  • Auditable data
  • Export data to analyse or visualise in other tools
  • Use the data to report in line with SECR, TCFD, ISSB, CSRD, SEC and the CDP
  • Methodology report

Achieve the universal standard for emissions reductions

Emitwises’s Established Package: From $19,500 p/a

10% off if you sign by the end of May 2024.

How to set Science Based Targets

Our guide on setting Science Based Targets

Targets may be one of the most used words in conversations about decarbonisation, second only to commitment.

In 2023, the Science Based Targets initiative (SBTi) reports that 2263 organisations have committed to setting net-zero targets within the next 24 months.

However, committing to such a challenge is one thing. Taking action to achieve it is quite another.

Read More

WATCH NOW

Webinar: The expert’s guide to setting Science Based targets

Join our Head of Carbon Accounting Tom Wood, and our Climate Solutions Lead Lizzy Almond, for a practical ‘how to’ discussion on setting Science Based Targets.

Why do others choose to work with us?