In the Nordic countries 40 companies have currently made commitments to set SBTs. Just two years ago there were only 3 Nordic companies with climate goals beyond 2030, signifying a strong and growing trend of companies wanting to develop long-term, science-based climate goals. The driving force behind this development partly lies with companies wanting to take responsibility for their contributions to climate change, as well as investors using climate action as a metric to consider a company’s ability to thrive in the green restructuring of the global economy.
“We are delighted that CEMAsys has become our first science-based targets partner in the Nordics. With its experience in assisting organization with calculation of emissions and targets setting, we are confident their services will be of great value to companies looking to set and implement science-based targets”, says Alberto Carrillo Pineda, Director Science Based Targets & Renewable Energy at the CDP.
CEMAsys.com is a leading Nordic consulting- and systems provider for climate, GRI and sustainability reporting services, and has since 2010 been the only Nordic consulting partnered with the CDP. In 2018, CEMAsys.com supported 36 Nordic companies reporting on their business strategy towards climate, water, and forests to the CDP. Of the total 7000 companies worldwide who reported to the CDP in 2018, only 126 companies received the highest score of A, gaining a spot on the coveted CDP A-List. CEMAsys.com supported 6 of these A-List companies from Norway and Sweden, as well as 6 Nordic companies scoring an A-, and 12 Nordic companies scoring a B.
“As the only accredited CDP consulting partner since 2010, it is a great recognition of our work to be asked by the CDP to become an accredited SBT Consulting Partner. We support more than 280 Nordic businesses with climate and sustainability reporting every year, both through our cloud-based service for all types of sustainability reporting, and with our climate- and GRI-consultants in an adviser and analysis capacity. We have for many years supported companies in developing clear and specific climate goals. Through our role as SBT Consulting Partner we will elevate our capacity through training and information provided by the CDP and the Science Based Target initiative so that we can help our Nordic clients budget and develop goals for their greenhouse gas emissions towards 2050, in line with the IPCC and the Paris Agreement”, said Partner and Product Manager in CEMAsys.com, Per Otto Larsen.
The Science Based Target initiative (SBTi) is a collaborative project between the CDP, the UN Global Compact (UNGC), World Resources Institute (WRI), and the World Wildlife Fund for Nature (WWF). The purpose of the SBTi is to provide companies with a science-based tool for setting climate goals and budgets, and in doing so, increase companies’ competitive advantage in the transition to a low-carbon society.
Science-based targets provide companies with a roadmap to future growth in a changing global economy by outlining how much and how fast they need to reduce their greenhouse gas emissions.
Video: What is a science-based target?
In the Paris Agreement, 195 countries committed to limit global warming to well-below 2 degrees Celsius. This signaled an acceleration in the transition to a low-carbon economy. Many companies already highlight their skills, capacity, and ingenuity to thrive in this transition – but they need ambitious reduction targets that ensure that the actions they take are in line with contemporary knowledge surrounding climate change.
Targets that are approved by companies to reduce greenhouse gases are considered science-based if they are in line with the levels of reduction that are necessary to keep global temperature rise under 2 degrees and if they are in line with the IPCC’s objectives.
Over the last 15 years CDP has developed a system that has resulted in outstanding engagement on climate issues between investors, companies, cities, countries, and regions across the globe. CDP is a non-profit organization and is a global investor-driven reporting scheme. Every year, on behalf of 840 institutional investors, CDP asks over 7000 listed companies how they address global climate change, and how they acknowledge the risks and opportunities that follow a changing climate and a changing economy. The CDP asks 260 of the largest Nordic listed companies to report each year.
In addition to acting on behalf of investors, CDP uses this reporting scheme for CDP Supply Chain, CDP City, and now also for private actors in their Non-Listed Program.
80% of the world’s 250 largest companies report in accordance with the GRI Standards
SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.
Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.
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