
Science-based targets create a pathway toward a low-carbon economy.
Source: Offshore Engineer.
- Vienna Convention, 1969
- Montreal Protocol, 1987
- United Nations Framework Convention on Climate Change, 1992
- Kyoto Protocol, 1997
- Paris Agreement, 2015
- Science-Based Targets Initiative (SBTI): The SBTI plays a pivotal role in guiding and providing tools to companies globally. This enables them to define a clear pathway towards reducing emissions.
- RE100: This is a collaborative corporate energy initiative, which brings together companies committed to sourcing 100% renewable electricity. It subsequently provides resources to help companies set science-based targets for renewable energy use.
- Science Based Targets Network (SBTN): A network of experts and organisations that aim to accelerate the transition to a low-carbon economy. They place emphasis on enabling companies and cities to become resilient by incorporating science-based targets in response to climate change.
- EP100: This focuses on energy efficiency as a way to achieve climate change goals worldwide. As well as this, it brings together companies committed to doubling their energy productivity.
- Net Zero Initiative: This is a collaborative engagement with companies and the scientific community that aims to accelerate the transition to a net-zero emissions economy. Their method includes adopting the carbon neutrality contribution framework.

The SBTN framework aims to accelerate the transition to a low-carbon economy.
Source: UPMBiofore

Companies, organisations, and governing bodies set science-based targets according to the Paris Agreement.
Source: Westpac.
- Costa Rica: The country is gearing towards becoming carbon-neutral by 2050. Costa Rica’s commitment to promoting renewable energy, reforestation, and sustainable agriculture has contributed to a reduction in emissions of over 20% since 2005.
- Denmark: By implementing a carbon tax and subsidies for renewable energy, Denmark has attained the highest proportion of wind energy globally. The country is targeting 70% reduction in its greenhouse gas emissions by 2030, and endeavours to be carbon-neutral by 2050.
- Unilever: The company was able to halve its carbon footprint from its operations since 2010, and aims to achieve net-zero emissions by 2039. Part of their strategy is to embrace renewable energy in their factories and collaborate with suppliers to reduce emissions across the company’s value chain.
- Walmart: The retail giant is aiming to reduce absolute global scopes 1 & 2 GHG emissions by 35% by 2025 and 65% by 2030, compared with 2015. The Science Based Targets initiative (SBTi) approved and classified this as science-based and 1.5°C-aligned. Walmart intends to power 50% of its global operations with renewable energy by 2025 and 100% by 2035. The increasing use of renewable energy in the company’s stores and distribution centres has helped achieve this target ahead of schedule.

Australia’s Net Zero Authority supports organisations striving to achieve science-based targets.
Source: The Fifth Estate