# Essential Strategies for Achieving Science-Based Targets
Written on
Chapter 1: Understanding Science-Based Targets
Organizations that are genuinely concerned about climate change are increasingly adopting science-based targets (SBTs). These targets align with the most current climate science to ensure that businesses contribute to keeping global warming well below 2 degrees Celsius.
Major global brands such as Nestlé, Unilever, and Microsoft were early adopters of the Science-Based Target initiative (SBTi), which was established in 2014. Today, setting SBTs is gaining traction among companies of all sizes and industries, with over 1,000 organizations participating despite the hurdles posed by the COVID-19 pandemic.
Is your organization considering joining this initiative? Are you uncertain about the effort required or how to persuade management to allocate resources for this? Is your company adequately prepared?
Regardless of the challenges, addressing climate change is imperative to avoid dire consequences.
“Establishing a science-based target keeps us aligned with our objectives. It outlines what we must achieve in the short and medium term to fulfill our long-term vision. Being part of this global initiative connects us to a larger movement,” — Keiko Shiga, Sony Corporation.
Let’s explore the four essential elements that will help your organization successfully implement SBTs.
Section 1.1: Cultivating a Sustainable Culture
Achieving sustainability isn't solely the responsibility of a dedicated team; it requires the entire organization to engage with sustainability goals. This necessitates a shift in culture and purpose. Without a cultural transformation, integrating science-based targets can be extremely challenging.
Change begins with the right mindset. What values does your company uphold? How can sustainability be woven into your mission and corporate culture?
To meet ambitious goals like reducing CO2 emissions by 50% or more, every employee must be part of the transformation.
Advice: Consistently communicate your organization's sustainability objectives and articulate the necessity of these changes. Envision a sustainable future that benefits everyone involved. Foster emotional connections to make employees feel integral to your mission. Recognize and promote desired behaviors, leading by example. Persistence is crucial for enduring change, so collaborate with HR to enhance awareness through joint campaigns.
Section 1.2: Ensuring Data Integrity
Reliable data on your company’s greenhouse gas emissions is a foundational element of effective sustainability management. Without accurate measurements, it’s impossible to gauge progress.
Before aligning your goals with the science-based target initiative, ensure your data collection processes are precise and yield credible information. Discovering unreported emissions later can hinder integration and demotivate your team.
Advice: Have your data audited by external experts and allocate sufficient resources for accurate data collection. Understand that achieving complete accuracy may take time, so don't rush into setting SBTs without a firm grasp of your emissions.
For scope 3 emissions, consider hiring an external agency to conduct a thorough audit from the outset.
Chapter 2: Gaining Management Support
Establishing science-based targets requires substantial commitment, necessitating the full backing of the management team and board. While businesses with minimal energy consumption may have exceptions, sustainability budgets are often among the first to be cut during crises. Only when decision-makers recognize the significance of sustainability will they prioritize it, even in challenging times.
For many organizations, adopting science-based targets signifies a pivotal shift in operations. This transformation will encounter significant challenges that can only be addressed with the support of those who control budgets and set strategic direction.
“How can we achieve financial growth without increasing waste? That's the real question. To promote this type of growth, customers must buy less but at higher prices. The key is to enhance their overall experience,” — Arthur Huang, CEO of Miniwiz.
Resource-heavy companies must rethink their business models. Consequently, few in the construction and engineering sectors have committed to SBTs.
Advice: According to PWC, only 24% of global CEOs express high concern about climate change. To capture your CEO’s attention, frame the conversation around what matters most to them: revenue and profit. Here are strategies to garner their support:
- Assess Revenue Risks: Demonstrate how proactive climate measures can safeguard business continuity. Consult your compliance team to understand customer expectations regarding emissions reductions.
- Competitor Analysis: Investigate what competitors are doing in the realm of climate change. Use this information to bolster your case for action. If your competitors are ahead, it’s a compelling reason to catch up; if not, position your company as a leader.
- Educate Leadership: Most CEOs lack comprehensive knowledge about climate change and its mitigation strategies. Organize seminars to equip them with vital information and collaboratively develop a sustainability vision for the company.
Chapter 3: Fostering Collaboration and Clarity
The intricacies of implementing science-based targets can be daunting. It's crucial to gather and address questions from all stakeholders, working alongside the science-based target initiative team to manage expectations and eliminate uncertainties.
Common inquiries include managing organic and inorganic business growth during the transition and the implications of failing to meet established targets.
Don’t let potential obstacles deter you from starting this vital journey. Join over 1,000 global businesses committed to a clearly defined path toward mitigating global warming to well below 2 degrees.
This initiative transcends mere corporate responsibility; it’s a call for transformation. Together, let’s pave the way for a sustainable future for businesses, people, and the planet.
“We are the first generation capable of eradicating poverty, and the last that can take action to avert the most severe effects of climate change. Future generations will hold us accountable if we neglect our moral and historical duties,” — Ban Ki-moon, Secretary-General United Nations.