Beyond 1.5°C, the world will increasingly experience dangerous climate impacts and humanitarian crises linked to drought, sea level rise, flooding, extreme heat and ecosystem collapse.
Companies have a pivotal role in ensuring that the global temperature goals are met. Yet, to date, most companies' targets do not match the ambition and timelines consistent with a 1.5°C future.
Science-based targets (SBTs) represent a more robust approach for companies to manage their emissions over the long haul. They offer a firm foundation for companies' long-term climate change strategies, boosting their competitive advantage in the transition to the low-carbon economy.
This tool not only provides a simulation platform for companies to set appropriate and science-based carbon reduction targets, but also helps companies and relevant third parties evaluate the effectiveness of these targets. With reference to the methodology of the Science-Based Targets initiative (SBTi), it enables companies to set GHG reduction targets in line with the reduction pathways for limiting global warming to 1.5°C (SBTi-approved) or well-below 2°C above pre-industrial levels, and contribute to global climate risk responses.
Companies need to discuss the base year and base year emission data, target year and target operation status (e.g. production, etc.) in the decision making meeting. There can be several sets of preparatory scenarios before setting the target, and the best scenario can be found by simulating the carbon target through this system and then combining it with the company's own strategy.