Around the world, businesses are taking bold action to tackle climate change. Nowhere is this more apparent than under the Science Based Targets initiative (SBTi), which encourages companies to set emissions reduction targets aligned with what climate science says is required to prevent dangerous global warming and achieve the Paris Agreement.
The SBTi yesterday reached the milestone of having over 100 companies worldwide with verified targets. Together the 100 companies make a significant contribution to the global economy, with a combined market of US$3.4 trillion and current annual emissions equivalent to 100 coal fired power plants, their commitment to the SBTi movement is a noteworthy contribution. A further 250 companies have already publicly committed to setting similarly ambitious targets.
Award-winning Australian sustainability consultancy, Edge Environment, is proud to be amongst that number, as one of only two Australian companies to have done so, and one of only a handful of small businesses globally to have taken the step.
As sustainability consultants we spend our time working with companies to show them the enormous value that can be created by shifting to a low-carbon business model. But we didn’t believe that could be credible unless we were prepared to ‘walk the talk’ ourselves. Making that commitment is good for our business – not only to show leadership to our clients, but also to attract and retain a team that wants to be part of and help create a sustainable future.
We congratulate Edge Environment for the bold step they have taken to set a science-based target. As a sustainability consultancy they have an important role to play in helping other companies align with science. In addition to setting a strong example for their sector, they are also one of the latest companies to help the Science Based Targets initiative reach its milestone of more than 100 companies with approved targets.
Alexander Liedke, WWF-Germany’s Sustainable Business & Markets Manager and member of the Science Based Targets initiative steering committee
There are over 380 companies who have set Science Based Targets or have publicly committed to doing so, and we’re currently working with a number of them. But there are many, many more doing the same work in the background. We’ve already delivered analysis for several clients to support their setting unofficial targets based on the same methodology, and have live projects and promising conversations with a host of others about following that path.
For most companies, the clear majority of emissions are in their supply chains or during use of their products and services. Setting a science-based target requires them to engage outside their organisational boundaries. As such, the initiative is helping to create incredible momentum, and it provides great confidence that the Paris targets can be delivered.
You can read more about our work setting the region’s first Science Based Target for Singtel-Optus here. A world map of companies with approved science-based targets can be viewed at the following Science Based Targets website.