It is easy to feel overwhelmed by the rising demand and need for corporate sustainability programs. Small to Medium Enterprises (SMEs) can sometimes lack the resources and capabilities that large companies have when creating and implementing sustainability strategies, specifically around setting carbon reduction targets.ย ย
The Science Based Targets initiative (SBTi) recognized that burden, and introduced an expedited option for SMEs that want to set a carbon reduction target that aligns with the most up-to-date scientific guidelines, while also providing a reasonable timeframe for an SME to reduce their emissions over time and ultimately reach net zero.ย
The SBTi defines an SME as a non-subsidiary, independent company with fewer than 500 employees by headcount. If your company has seasonal workers or a workforce that fluctuates annually, SBTi asks that you use the average annual headcount to determine employee numbers rather than the number of full-time employees. It is important to note that currently, the SBTi does not include financial institutions or oil & gas companies in this definition.ย
There are 5 steps that SMEs need to complete:ย
The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).ย SBTi strives to mobilize the private sectorโs fight against climate change by guiding companies through the target setting process and providing sector-specific clarity on greenhouse gas emissions and reduction efforts. SBTi is backed by industry leading experts that set science-based targets in line with the most recent climate science.ย
RPS can assist you through every step of the process: collecting and calculating GHG emissions, establishing a baseline, setting science-based targets, developing an action plan to reduce emissions, and purchasing offsets. Contact us today to schedule a call and discuss your needs: esg@rpsgroup.comย
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