The Science-Based Targets Initiative (SBTi) is a left-of-center environmental policy organization that is jointly operated by CDP Worldwide (formerly the Carbon Disclosure Project), the World Wildlife Fund, the World Resources Institute, and the United Nations Global Compact.

The group exists to solicit companies to make commitments to left-of-center climate policies by setting carbon reduction targets. The group has grown rapidly since 2021 and now claims nearly 4,000 companies have set targets or made commitments through the SBTi. The group is funded by a variety of left-of-center foundations including the Bezos Earth Fund, Bloomberg Philanthropies, and Climate Arc – Rockefeller Philanthropy Advisors. ^{1 2}

Background

The Science-Based Targets Initiative (SBTi) is a joint partnership of CDP Worldwide (formerly the Carbon Disclosure Project), the World Wildlife Fund, the World Resources Institute, and the United Nations Global Compact. The group is closely tied to the We Mean Business Coalition and its activity is a core area of the coalition’s commitments. ^{3 4}

The group provides resources for large companies to make commitments and set “science-based targets” to lower carbon emissions. Such targets are described by the initiative as showing “companies and financial institutions how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to prevent the worst effects of climate change.” The group further defines science-based targets as targets that are “in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement – limiting global warming to 1.5°C above pre-industrial levels.” ^{5 6}

Activities

The Science-Based Targets Initiative (SBTi) was the lead partner of the Business Ambition for 1.5°C campaign, a joint effort of several United Nations organizations that pressured companies to set net-zero climate targets in line with the 2015 Paris Climate Agreement. ^{7 8}  

The SBTi has also launched the world’s first Corporate Net-Zero Standard, which evaluates a company’s climate targets to ensure they will contribute to net-zero emissions by 2050. The standard “requires companies to make rapid and deep emission cuts, through both near- and long-term science-based targets.” ^{9 10}  

The group reports that it saw a rapid expansion when many of its partner organizations began pressuring companies to join the initiative in 2021. By the end of 2022, more than 4,000 companies that represent over two-thirds of the global market cap had set targets through the SBTi. ^{11 12}  

The group also supports the incorporation of its program into other efforts including UN Caring for Climate and WWF Climate Saver. ^{13 14}

In 2022, the B Corp Climate Collective, an environmental advocacy arm of B Lab, retired its Net Zero 2030 campaign in favor of partnering with the SME Climate Hub and the SBTi. The group encouraged companies with fewer than 500 employees to join the SME Climate Hub and companies with over 500 employees to partner with the SBTi. ¹⁵

SBTi is highly critical of the oil and gas sector and does not allow companies in that industry to make commitments through its program. ¹⁶

Funding

The Science-Based Targets Initiative (SBTi) is funded by left-of-center organizations and foundations including Bezos Earth Fund, the IKEA Foundation, the Laudes Foundation, Bloomberg Philanthropies, Climate Arc – Rockefeller Philanthropy Advisors, the Hewlett Foundation, the Rockefeller Brothers Fund, the UPS Foundation, Amazon, Danone, and the Moore Foundation. ¹⁷

1. “Funders.” Science-Based Targets Initiative.” Accessed October 22, 2023. https://sciencebasedtargets.org/about-us/funders
2. “About Us.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/about-us
3. “About Us.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/about-us
4. “FAQs.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/faqs#how-can-companies-set-a-science-based-target
5. “About Us.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/about-us
6. “FAQs.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/faqs#how-can-companies-set-a-science-based-target
7. “About Us.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/about-us
8. “FAQs.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/faqs#how-can-companies-set-a-science-based-target
9. “About Us.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/about-us
10. “FAQs.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/faqs#how-can-companies-set-a-science-based-target
11. “About Us.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/about-us
12. “FAQs.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/faqs#how-can-companies-set-a-science-based-target
13. “About Us.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/about-us
14. “FAQs.” Science-Based Targets Initiative.” Accessed October 22, 2023.  https://sciencebasedtargets.org/faqs#how-can-companies-set-a-science-based-target
15. “Net Zero.” B Corp Climate Collective. April 26, 2023. Accessed October 22, 2023. https://www.bcorpclimatecollective.org/net-zero
16. ^[1] “Oil and Gas.” Science-Based Targets Initiative. Accessed October 22, 2023. https://sciencebasedtargets.org/sectors/oil-and-gas
17. Funders.” Science-Based Targets Initiative.” Accessed October 22, 2023. https://sciencebasedtargets.org/about-us/funders