The Science Based Targets initiative works with companies to set ambitious emission reduction targets. And now, 200 companies have committed to set such targets consistent with the global effort to keep temperatures well below the 2-degree threshold – in alignment with a key goal of the 2015 Paris Agreement on climate change.
The 200 companies represent an estimated USD $4.8 trillion in market value and are responsible for 627 million metric tonnes of CO2 equivalent emissions per year, roughly equal to the annual emissions of South Korea.
In the past year, the initiative has seen a growth rate of over two companies per week committing to set science-based targets. This is a clear signal that climate action has gained mass support in the private sector.
The positive outcome of the Science Based Targets initiative proves that companies are ready, willing and able to take serious climate action.
The 200 committed companies span 33 countries and represent a wide range of sectors, including food and beverage, pharmaceutical, automotive, and electric utilities.
Read more about the Science Based Targets initiative here.