The SBTi (Science-Based Targets Initiative) was founded in 2015 by CDP, the UN Global Compact, the World Resources Institute (WRI) and the World Wildlife Fund (WWF). Its major objective is to ensure that companies set ambitious carbon emission reduction targets that are compatible with the Paris Agreement's goal of limiting global warming to well below 2°C above pre-industrial levels, with a target of 1.5°C.
But first, you may be wondering what "FLAG" stands for. It turns out that " FLAG " is an acronym that stands for Framework for Long-Term Science-Based targets. It is an SBTi mechanism that guides and assists companies in setting long-term emission reduction targets. FLAG aims to provide a structured method for ensuring that companies not only commit to reducing their current emissions, but also assess the long-term impact of their activities on the climate.
SBTi technology is aimed at two groups of stakeholders.
To begin with, organizations whose activities depend on the use of forests, soils and agricultural land must establish a FLAG objective:
- Forestry and paper products
- Food production linked to agricultural production
- Food production from animal sources
- Food and beverage processing
- Food retailing
- Tobacco
The second type of company is one that operates in a different sector, but for which at least 20% of total Scope 1, 2 and 3 emissions are linked to the use of forests, soils and agricultural land.
Companies can create an ambitious and realistic decarbonization trajectory using the SBTi FLAG methodology. These targets need to be part of a broader strategy, from a GHG emissions assessment to a concrete action plan.
For more information on SBTi FLAG, visit sciencebasedtarget.org.
Article written by Tiphaine, Project Manager at MyEasyFarm.
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