Raconteur

Responsible Business 2019

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R E S P O N S I B L E B U S I N E S S 16 www.carboncreden als.com +44 (0)20 3053 6655 Science-based targets translate the level of climate ac on needed globally to align with the Paris Agreement into specific targets for your organisa on. Targets are considered 'science-based' if they are in line with the emission reduc ons required to keep global temperature increase well-below 2 degrees. ? Gain compe ve leadership Strengthen brand reputa on Reduce risk Reduce costs Drive new opportuni es Limit climate change THE CASE FOR SETTING SCIENCE-BASED TARGETS What are science-based targets? <2°C Why set a science-based target? 200+ 550+ companies have officially commi ed to se ng science-based targets, and the number is growing every week. companies have had targets officially approved by the Science Based Targets ini a ve (SBTi). "Science-based targets have helped us, for the first me, to align our efforts to act on climate change with those of the global community." Tesco In October 2018 the Intergovernmental Panel on Climate Change (IPCC) confirmed that we must reduce global emissions by 45% by 2030 to avoid a climate crisis. This timeframe is within the business planning cycle of most companies and requires urgent and, in some cases, radical action. Companies have a responsibility to respond to this clear message and commit to a zero- carbon future by setting science-based targets. Over 550 companies have already committed. Companies that have the capabilities to transition to a zero-carbon economy will gain a competitive advantage by becoming more efficient and more resilient. Creating a roadmap to reduce your emissions requires you to address the risks that businesses in your sector will face as the economy transitions to a zero-carbon world. It's an opportunity to be bold and show leadership, particularly if all the solutions are not yet known. There will be opportunities to reduce costs, become more efficient and more circular, and grow new revenue streams. If you don't make the most of these opportunities, your competitors will. At Carbon Credentials we're working with leading companies to set and achieve ambitious climate targets by changing behaviours, influencing supply chains, and introducing efficient technologies. We helped Tesco to become the first corporate in the world to set a science-based target consistent with limiting warming to 1.5°C. To download our guide to se ng science- based targets visit: carboncreden als.com/ sciencebasedtargets IS YOUR BUSINESS PREPARED FOR A ZERO-CARBON WORLD?

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