From November 25, 2020 15:00 until November 25, 2020 16:00
Categories: Public Events
The UN Global Compact Network UK and the Science Based Targets Initiative are hosting a webinar series to support companies to overcome common challenges related to setting and implementing science-based targets. This webinar, the second in the series, will focus specifically on small and medium-sized enterprises (SMEs).
SMEs will play a critical role in the global response to climate change. According to the World Bank, they make up about 90% of businesses and account for 50% of employment worldwide. There is an acute awareness of the risks they face from climate change, and growing interest in the opportunities presented by taking climate action.
Setting a 1.5°C aligned science-based target is one of the most effective ways for businesses to demonstrate the highest level of climate action ambition. However, the major challenge for SMEs is that many lack the capacity and means to set these targets.
This webinar aims to support SMEs to set science-based targets by exploring the common challenges that SMEs face such as capacity, priorities, long-term outlook and cost and how to overcome these. The webinar will also provide an overview of the new target validation route produced for SMEs by the SBTi, and provide practical tips for setting and meeting targets. The webinar will feature expert guidance and best practice examples from business case studies.
Science Based Targets
The Science Based Targets initiative is a partnership between CDP, UN Global Compact, WRI, and WWF. The initiative supports companies to set emissions reduction targets required to limit global warming well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.
Over the past several years, science-based target-setting has rapidly become the most effective way for companies to align their corporate goals with the Paris Agreement. As stated in the 2018 IPCC Special Report on Global Warming, the transition to a low-carbon economy must be accelerated globally in order to hold warming to 1.5°. We are calling on all companies — across sectors — to set their science-based target with a new level of ambition — one that aligns with the 1.5° target.
More information about Science-Based Targets and the 'Business Ambition for 1.5°' campaign can be found here.