Advancing the adoption of science-based targets in the G20Energy and Clean Tech
The science is clear: if we are to ensure the future of humanity on this planet, we must all enable the halving of global emissions within this decade and reach net zero by 2050. However, the vast majority of companies in the world’s major economies are failing to make climate pledges that can be measured against meaningful yardsticks, such as the 1.5°C temperature goal set at the Paris Agreement.
We supported the launch of SBTi’s data factsheet, which found that although growing numbers of companies in the G20 are setting climate targets, only 20% align with climate science. We compiled a data table which applauded companies from the best-performing countries, and encouraged those in the worst-performing countries to step up. It revealed that some of the world's heaviest emitters - such as Indonesia, Russia and Saudi Arabia - do not contain a single company to have submitted an approved science-based target.
We secured over 80 media articles worldwide in 13 G20 countries. Top news agencies Bloomberg, IANS (India), EFE (Spain), ANSA (Italy) and AA (Turkey) spread the story far and wide, whilst key international and national media such as Forbes, BBC Radio 4’s Today Programme (UK), New York Times (US), Business Standard (India), La Vanguardia (Spain) and the Korea Herald brought the subject onto the domestic news agenda.
The launch of SBTI’s research during NYC Climate Week, while world leaders were focussed on climate action at the UN General Assembly, put corporate climate action under the spotlight. Much of the media attention emerged alongside coverage of leaders' key speeches and pledges. It has increased pressure on companies worldwide to align with climate science, ahead of the G20 Summit in October.