14/06/2024
Green Move Consulting is collaborating with Engineering Resources International (ERI) Ltd to offer service in Science Based Target for clients in Cambodia and in the region (Thailand, Lao, Vietnam, etc.). What is science-based target?
A science-based target (SBT) is a specific, measurable, achievable, relevant, and time-bound (SMART) goal for reducing greenhouse gas (GHG) emissions. These targets are grounded in the latest climate science and aim to limit global warming to a specific level, typically 1.5Β°C or 2Β°C above pre-industrial levels.
Here's a breakdown of SBTs:
1. Purpose: SBTs help companies and organizations define ambitious yet achievable reductions in their emissions footprint. They contribute to combating climate change by aligning business practices with the goals of the Paris Agreement.
2. Development: The Science Based Targets initiative (SBTi) is a key player. This collaborative effort, backed by organizations like CDP, UN Global Compact, World Resources Institute (WRI), and WWF, provides frameworks and validates targets submitted by companies.
3. Focus: SBTs typically target reductions in a company's greenhouse gas emissions across their value chain. This includes:
3.1. Scope 1: Direct emissions from company-owned or controlled sources (e.g., factory smokestacks)
3.2. Scope 2: Indirect emissions from purchased electricity, heat or steam
3.3. Scope 3: Indirect emissions from the broader value chain (e.g., business travel, purchased materials) - For companies where Scope 3 emissions are significant, these may also be included in the SBT.
Benefits of Science-Based Targets:
1. Clear Roadmap: SBTs provide a clear roadmap for companies to reduce their environmental impact, helping them transition to a low-carbon future.
2. Competitive Advantage: Companies with SBTs can demonstrate their commitment to sustainability, potentially attracting investors and customers who prioritize environmental responsibility.
3. Risk Management: By proactively addressing climate change, companies can reduce their exposure to future regulations and costs associated with carbon emissions.
Do you need this service?
Contact us at [email protected]
Source of picture: EPA, USA.