What is SBTi？

The Science-Based Targets initiative (SBTi) is an international non-governmental multilateral organization that provides scientific basis and framework standards for businesses to reduce greenhouse gas emissions, ensuring that their emission reduction goals align with the objectives of the Paris Agreement (which aim to limit global average temperature rise to well below 2 degrees Celsius above pre-industrial levels and to strive to limit the temperature increase to 1.5 degrees Celsius above pre-industrial levels).

The initiative was jointly launched by four institutions: the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), the World Resources Institute (WRI), and the World Wildlife Fund (WWF), all of which are members of the world's largest business climate action alliance - We Mean Business.

Who have joined the SBTi?

As of March 2024, globally, more than 8,000 companies have set or committed to setting science-based carbon targets, taking proactive actions to address climate change.

Among them, 5,307 companies have completed setting science-based carbon targets, and 3,152 companies have committed to setting net-zero emissions targets by 2050.

Over 300 companies from mainland China, Hong Kong, and Taiwan have set or committed to setting science-based carbon targets, with approximately 150 already having established such targets. Among them are well-known logistics companies, technology firms, and real estate enterprises, such as JD Logistics, Alibaba, Far East Horizon, NIO, Yum China, Haier, and Yixing.

By the end of 2022, companies that have joined or committed to joining SBTi accounted for 34% of global market capitalization, surpassing 28% in 2021, equivalent to $37.3 trillion USD.

How to set SBT?

Setting science-based target involves the following process: