Target setting

Science-based targets provide a clearly defined pathway for organisations to reduce their greenhouse gas emissions, helping to prevent the worst impacts of climate change and futureproof their business. We have supported more than 200 organisations worldwide in setting science-based targets and have been a technical advisor for the Science Based Targets initiative since its inception.

Overview

Science-based targets have become the globally accepted standard for companies setting carbon reduction targets. Currently, companies representing a third of global GDP have committed to such targets. European companies are at the forefront of this global movement with more than 1500 who have committed to set a science-based targets and one-third of Europe’s largest listed companies committed to meeting Net Zero targets. Our team of independent experts will help your organisation set targets that are aligned with the latest climate science and the requirements of the Science Based Targets initiative (SBTi).

The benefits

Science-based targets are becoming a license to operate in a decarbonizing global economy. The following are just some of the commercial and reputational benefits that setting science-aligned emission reduction targets will bring:

Credibility and reputation. Following a robust target setting approach is a prerequisite for leading climate action. 
Engage internal and external stakeholders. Create 'buy-in’ with your stakeholders, so your organisation can achieve its targets.
Increase resilience against upcoming regulation – the new EU’s CSRD requires companies to set clear GHG reduction targets in line with science.
Drive innovation and improve financial standing. Quantified pathways to emissions reduction will drive innovation and shape your long-term organisational strategy.

Most importantly, the most recent SBTi Progress Report found that companies with science-based targets decarbonize significantly faster than companies without targets, proving the tremendous effectiveness of these targets.

How we can help  

With over two decades of experience in carbon management, we’ll help your organisation set carbon reduction targets (Scope 1, 2 and 3) that meet the requirements of the Science Based Targets initiative and can tailor our approach to meet your specific business needs.

Specific areas where we offer expertise include:

Corporates  

We help you meet the requirements of the Science Based Target Initiative (SBTi) and tailor our approach to meet your specific business needs. We have helped more than 200 companies, across sectors including food and drink, transport, retail, utilities, manufacturing, finance, and real estate, set science-based targets and are members of the Technical Advisory Group of the SBTi.

Our experts will guide you through the process, including: 

Engaging with stakeholders to ensure buy-in across the organisation.
Completing Scope 1, 2 and 3 carbon footprints.
Advising on the requirements of Net Zero targets.
Modelling carbon reduction targets across Scope 1, 2 and 3, using methodologies such as the Sectoral Decarbonisation Approach or the Absolute Contraction Approach for near- and long-term targets.
Developing an implementation plan to assess target feasibility for Scope 1, 2 and 3. 
Supporting you with your target submission to the SBTi.

Financial institutions

As intermediaries, financial institutions play a key role in steering corporates towards Net Zero. The SBTi framework for financial institutions allows them to set science-based targets that track alignment of lending and investment portfolios with the Paris Agreement and facilitates engagement with corporates.

We help financial institutions throughout the target-setting process, from the high-level commitment stage to setting ambitious and achievable goals, including feasibility assessment and implementation support.

What is a science-based target?

Science-based targets are carbon emission reduction targets. Targets are considered science-based if they align with what the latest climate science says is necessary to meet the goals of the Paris Agreement - to limit global warming to well-below 2C above pre-industrial levels and work towards 1.5C. Companies in all sectors apart from oil and gas can set science-based targets.

Leading this area globally is the Science Based Targets Initiative (SBTi), a partnership of organisations that supports companies to set targets using different methodologies, and then validates those targets.

Learn more about science-based targets

Why the Carbon Trust?

The Carbon Trust has been a member of the Technical Advisory Group of the Science Based Targets initiative since its inception.

We are a recognized global leader in science-based targets, having supported more than 200 companies worldwide from a variety of sectors including food & drink, transport, retail, utilities, manufacturing, finance and real estate. Carlsberg, Vodafone, Zalando and Grundfos are just some of the organisations we helped set science-based targets.

More recently we teamed up with the UN Global Compact Network Germany to equip German companies with the most up-to date knowledge and skills they need to accelerate progress to Net Zero emissions.

Across the EU and beyond, regulations around sustainability are tightening. They reiterate the need for financial institutions and businesses alike to better understand the synergy between futureproofing their organisation and taking climate action.

Veronika Thieme

Associate Director, Europe, The Carbon Trust

EU regulation reiterates the need for financial institutions and businesses alike to better understand the synergy between futureproofing their organisation and taking climate action. Uncovering potential risk and opportunity blind spots helps businesses understand how they can remain relevant in a Net Zero world.

Veronika Thieme

Associate Director, Europe, The Carbon Trust

We see countless examples where investment managers need to get a deal approved by an investment committee in less than one week. Climate due diligence is essential, but it shouldn’t be a blocker. It’s important non-sustainability experts have the tools and confidence to check climate credentials and prevent unnecessary delays that may result in financial institutions passing on qualified sustainability investments.

Tom McKeith

Consultant, Corporate Sustainability, The Carbon Trust

At Dr. Martens we have made timeless, durable products for more than six decades. As we continue on this journey, we are committed to leaving things better than we found them through our sustainability strategy. Thanks to our partnership with the Carbon Trust, we are building a strong foundation of knowledge about our mutual interaction with the climate. This has empowered us to set science-based targets and make decisions which support the future of our planet.

Tuze Mekik

Global Head of Sustainability, Dr. Martens

Reducing our carbon emissions is an integral part of our sustainability strategy. We’ve relied on our trusted partner, the Carbon Trust, to guide us through Scope 3 footprinting and target setting. Having a broader view on emissions across the value chain has helped us create specific action plans and to improve significantly. The Carbon Trust are a forward-thinking team, helping us to overcome challenges as we progress on our decarbonisation journey.

Karsten Hoff

Senior Manager, Technology, Innovation & Sustainability, Thyssenkrupp

With the Carbon Trust’s guidance, we have made the most ambitious long-term climate commitment in our journey yet. The team’s deep-rooted understanding and expertise gave us the confidence and clarity we needed to lay out a Net Zero pathway. Here, the feasibility work was particularly beneficial. It showed us practical ways in which we can reach Net Zero while enabling our customers to save energy. Together, we’ve shown how you can take responsibility for indirect emissions, however difficult the challenge and seize the business opportunities.

Ulrik Gernow

COO, Grundfos

More and more companies across Germany and beyond recognise their responsibility to reduce their emissions. But to take meaningful action, they first need the skills and understanding of how to start. The Carbon Trust supported us in bringing topics like greenhouse gas accounting and science-based target setting to the forefront of participants’ minds. This project has helped us to offer our network concrete insights on how companies can adopt a holistic approach to climate action and deliver real results.

Louisa Gille

Communication & PR, UN Global Compact Network Germany