Twenty per cent of businesses don’t understand science based targets and are confused by the many methodologies available found IMS research, delivered in partnership with Bristol University.
The confusion and low awareness will need to be overcome if companies are to start implementing greenhouse gas emission reduction targets that are consistent with what the science tells us are needed.
Despite the substantial progress reported in this year’s CDP (Carbon Disclosure Project) report released on 4 November, there was emphasis on doing more to meet the 2oC limit set by governments and scientists as the maximum acceptable level of global warming.
‘Looking forward, CDP will encourage more ambitious target setting through our performance scoring, by giving particular recognition to science-based targets.’ (CDP Global Climate Change Report 2015, pp8)
“Pressure is growing on companies to do more and we expect that, for the first time, CDP will include a question on science-based targets in the 2016 climate change survey,” advised Graham Sprigg, IMS Consulting’s Chief Executive.
We also see the momentum building with the Science Based Targets initiative set up by CDP in partnership with the UN Global Compact, The World Resources Institute and WWF.
Aware that the adoption of science-based targets could be a major change for businesses, IMS partnered with Bristol University to explore how and why companies currently set emission reduction targets.
We found that why businesses set targets and how they set targets is out of balance. Although environmental concerns top the drivers for setting targets, avoiding climate change does not rate highly when determining what targets are set.
The research looks in detail at the benefits and barriers to adopting a science-based target approach. To find out more, check out our free to download quick guide and understand what science-based targets mean for your business.
The full research report is available on request from firstname.lastname@example.org