Strategic Focus: Comparing Progress On SBTi Accreditation Across Industries

Published 11 April 2024 by Alice Saunders & Ryan Skinner &
Net Zero & Climate Risk Net Zero Emissions SBTi Strategic Focus

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Executive Summary

This report, based on findings from the Verdantix 2024 global corporate survey of 353 climate leaders, analyses and fact-checks SBTi (Science Based Targets initiative) verification progress by industry. Sustainability executives can use the report to benchmark themselves against peers, while software and services firms can read it to understand the maturity levels in the industries in which they currently work, or into which they plan to expand. The report finds that industries with significant fleet emissions or energy usage often lead the way with SBTi-verified targets. However, across our survey sample, we found that respondents claiming SBTi-validated targets often conflated use of SBTi guidance with accreditation.

Table of contents

Demand for SBTi accreditation is climbing
Climate leaders claim to have SBTi targets, but many lack accreditation
Industries with significant fleet emissions and energy consumption excel at SBTi target-setting

Table of figures

Figure 1. Most firms claim they already have an SBTi-validated target, or plan to set one over the next two years
Figure 2. Half of respondents citing an SBTi-validated target have neither validation nor commitment
Figure 3. Freight and telecoms lead the charge for SBTi-validated targets

About the authors

Alice Saunders

Industry Analyst
Alice is an Industry Analyst in the Verdantix Net Zero & Climate Risk practice. Her current research agenda focuses on climate risk solutions and biodiversity. Alice holds a Masters in Nature, Society and Environmental Governance from the University of Oxford and a BA in English Literature from the University of Warwick.

Ryan Skinner

Research Director, Net Zero & Climate Risk
Ryan is the Research Director for the Verdantix Net Zero & Climate Risk practice. He guides the research team to develop compelling research at the intersection of net zero strategies, carbon management, climate risk and technology. Prior to joining Verdantix, Ryan was a principal analyst at Forrester Research, where he initiated the research into ESG data and analytics offerings. He also has extensive experience of helping software companies with their messaging, positioning, market and technology strategies. Ryan studied at Duke University, the University of Manchester and the University of Oslo, and speaks Norwegian fluently.

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