SCIENCE-BASED NET-ZERO Scaling Urgent Corporate Climate Action WorldwideSCIENCE BASED TARGETS INITIATIVE ANNUAL PROGRESS REPORT, 2021PUBLISHED MAY 2022 About the Science Based Targets initiative and this report 3Foreword from the SBTi’s CEO, Dr. Luiz Fernando do Amaral 4Executive summary 5Chapter 1: A year of exponential growth 9Chapter 2: Reaching a critical mass 20Chapter 3: Science-based targets result in biggest emissions reduction to date 26Chapter 4: Addressing systemic challenges to science-based targets 31The road to 2050 38Methodology for assembling per-company and per-target data 40Appendix: Progress results of near-term science-based targets 2021 42Disclaimer 42CONTENTS2SBTi Progress Report 2021ABOUT THE SCIENCE BASED TARGETS INITIATIVE AND THIS REPORTThe Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reduction targets in line with the latest climate science. The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), and one of the We Mean Business Coalition commitments. The SBTi’s goal is to provide companies worldwide with the confidence that their climate targets are supporting the global economy to halve emissions by 2030, and achieve net-zero before 2050. The SBTi is now evolving to become a global standard setter, ensuring the highest ambition in credible corporate climate target setting. It defines and promotes best practice, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets. To ensure the integrity of targets, the SBTi’s target validation process follows a rigorous protocol ali...
