SBTi Passes 10,000 Companies Committing to Science-Based Climate Targets

The Science Based Targets initiative (SBTi), one of the key organizations focused on aligning corporate environmentalEnvironmental criteria consider how a company performs as a steward of nature. sustainability action with the global goals of limiting climate change, announced a key milestone, reaching more than 10,000 businesses that have set science-based emissions reduction targets, or made commitments to do so.
The achievement marks significant growth for the organization, with the number of companies committing to climate targets rising by 29% over the past year from 7,425.
The SBTi was founded in 2015 with the goal to establish science-based environmentalEnvironmental criteria consider how a company performs as a steward of nature. target setting as a standard corporate practice. The organizations’ key functions include defining and promoting best practice in emissions reductions and net-zero targets in line with climate science, providing technical assistance to companies who set science-based targets, and providing companies with independent assessment and validation of their emissions reduction targets.
The growth in companies participating in the SBTi’s science-based target setting comes despite a tumultuous year for the organization, which saw its prior CEO resign following a controversial plan by the organization to allow the use of carbon credits in company net zero plans under its upcoming revised Corporate Net Zero Standard. The SBTi recently announced the appointment of former UK Committee on Climate Change (CCC) Chief Executive David Kennedy as its new CEO, and has indicated that it may backtrack on its plan for the expanded role of carbon credits in the new standard.
The SBTi also revealed significant growth in the number of companies with validated science-based climate targets, which has now passed 7,000, up by more than two-thirds from around 4,200 at the end of 2023. After more than doubling the number of companies with validated targets from 2022 to 2023, the SBTi announced a series of actions aimed at meeting surging demand for corporate decarbonization standards and target validation services.
In a post announcing its new milestone, the SBTi said:
“We applaud these 10,000 companies and financial institutions for their commitment to robust, credible and ambitious climate action. We urge all eligible businesses to follow suit and set emission reduction targets aligned with science. The time to act is now—our planet depends on it.”