For companies, science-based targets provide a clear path to reducing their emissions of GHG (greenhouse gases), which in turn helps minimize climate change's most severe effects and guarantees the economy continues to grow in the years to come.
What does it mean to have a "carbon intensity target?"
An intensity target is a normalized metric that can be used to determine an organization's emissions goal about an economic or operational variable. If a corporation employs intensity objectives, it can reduce emissions, becoming carbon neutral while allowing for future economic growth.
Goal Emissions Rate of Carbon
The annual CO2 emissions of a hypothetical structure of the same type, size, and shape as the proposed construction are used to establish the target CO2 emission rate (TER), the lowest allowable benchmark for th0065 energy presentation of a building.
The minimum acceptable level of energy performance for a building is distinct by this standard. CO2 emissions per square meter per year (TER) are reported in kilograms of carbon dioxide (CO2).
To what extent may the fight against climate change be aided by setting a target based on scientific evidence?
The Intergovernmental Panel on Climate Change (IPCC) issued a report in August 2021 that reiterated the certainty of previous findings that human activities are the primary driver of climate change and reemphasized the essential need to take immediate action to tackle the issue.
Setting Science-based targets in line with climate science will provide businesses with a clear path to reducing emissions, and they will be able to contribute to international efforts to slow global warming.
Why is it beneficial to base objectives on empirical research?
The ability to achieve these is a direct result of setting goals.
Setting firm goals based on scientific evidence will boost your company's image, as this is becoming an increasingly frequent requirement for companies taking action to reduce their carbon footprint and combat climate change.
Cut costs by using less energy and paying less for it.
Improve your company's strategy, foster creativity, and boost your competitive edge.
Trust among investors has grown, and financial institutions are gradually beginning to account for emission cuts based on climate science.
Contribute to the control of potential risks; setting goals can increase resilience against the buildup of future emissions.
Is there any way to predict how firms will react to the new science-based targets?
Publication of the changes is planned for before the end of the year, with their implementation date set for 15 July 2022. Before this date, businesses can choose which version of the criteria they will align to if they submit their targets for validation to the SBTi.
This will enable businesses to find a happy medium between the extent to which they are willing to reduce their emissions and the reputational benefits of conforming to best practices. Existing enterprises with approved targets will have to modify their level of ambition during the next five years.
Businesses can acquire a competitive edge by conforming to the new requirements before the deadline. If they did that, they'd be steps ahead of the competition.
