📢 LAUNCHED TODAY! 📢 The SBTi has released our Monitoring Report 2023, showcasing significant milestones in global corporate climate action. The report finds continued growth across key metrics including global growth of companies with validated targets, market cap penetration and global reach. Key findings include: ↗ The number of companies with science-based targets increased by 102% in 2023, driven notably by robust expansion in Asia. 🗾 Japan emerged as the global leader in science-based target setting, surpassing the UK and US with a total of 768 companies with validated targets. 🌏 India experienced a 520% increase in companies setting science-based targets in 2023 compared to 2022. 📈 Companies with validated targets or commitments reached 39% of the global market cap, increasing two percentage points from 2022. 💊 The biotech, healthcare, and pharma sector saw the most substantial growth in target setting, with a 222% increase, while materials industry growth slowed to 41%. Luiz Fernando do Amaral, CEO of SBTi, emphasized the report's findings, stating, "The deepening foothold of the SBTi in global markets, especially the Global South, demonstrates a growing understanding of companies of what is required of them to meet the aims of the Paris Agreement. We must now fight harder than ever to keep those aims alive, so I call on companies everywhere to set targets and report against them as a matter of urgency.” Find out more: https://lnkd.in/eYP7CE3S #SBTiScaleUp #ClimateAction #SBTiProgress
Jeff Gowdy
3w
Do you attribute some of the increase in the number of companies to the launch of SBTN? (Which has emissions as one of its five pillars).
Emily Austin
3w
Can you share progress on companies meeting their target trajectories?
Interesting mentioned trend: The biotech, healthcare, and pharma sector saw the most substantial growth in target setting, with a 222% increase, while materials industry growth slowed to 41%. #pharma and #pharmasupplychain. The industry and its stakeholders have fully grasped the connectedness between human and planet health
Congratulations! How much CO2e was already reduced by these companies YTD? How much CO2e will be reduced by these companies? What represent in Global Temperature? (Impact). How much additional CO2e reductions are required to achive the goal?
It's incredibly encouraging to see such a dramatic increase in science-based targets, especially in regions like Asia.
Congrats on the launch! 📢 It's amazing to see such impressive growth in global corporate climate action, especially in Asia and Japan. 🌏
Great to see the continued global momentum in science-based targets! Is there an update on scope 3 target coverage? The 2022 report highlighted that 96% of all companies with SBTs covered scope 3 emissions, and we are curious about the latest trend.
Ankur Kumar
3w
Insightful! It’s also important to track the progress against the targets.
The report is so inspiring! When talking about global "corporate" climate action, we see a necessity for more smaller companies to be part of the Science Based Targets initiative. There are a lot of them out there! What are your thoughts on that? How could that be made possible? #SBTi #climateaction #Equilize #SME's