Strategic Focus: Comparing Progress On SBTi Accreditation Across Industries
11 Apr, 2024
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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.
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
Climate leaders claim to have SBTi targets, but many lack accreditation
Industries with significant fleet emissions and energy consumption excel at SBTi target-setting
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
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
Vodafone, GSMA, Dell, CDP, Health Care Without Harm, UN Global Compact, International Air Transport Association (IATA), World Resources Institute, WWF, Sustainable Markets Initiative, International Council on Mining and Metals (ICMM), Salesforce, Sony, Nike, Science Based Targets initiative (SBTi), AstraZeneca, US Securities and Exchange Commission (SEC), US Environmental Protection Agency (EPA), UN, Coca-Cola
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…
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Ryan Skinner
Research Director
Ryan is a Research Director at Verdantix, where he leads a team of analysts delivering research, data and advisory services that help clients navigate the fast-evolving landsc…
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