Science-based target: Definition
An emissions reduction goal is deemed science-based when it aligns with the scientific consensus of the Paris Agreement’s objectives: namely, the ambition to restrict global warming to under 2°C above pre-industrial levels, with a more rigorous pursuit of a 1.5°C target.
For Sustainability Managers
Understanding Science-based target is essential for accurately tracking and reducing your organisation's carbon footprint.
For CFOs
Science-based target has growing financial implications as climate regulation tightens and investors demand transparency.
For Sustainability Reporting
Accurate measurement of Science-based target is required for credible climate reports across all major frameworks.
Related Terms
Carbon Reduction Target
A carbon target signifies a company's commitment to reduce its GHG emissions by a specified amount before a particular year.
ACCC
The Australian Competition & Consumer Commission (ACCC) serves as Australia's national regulator overseeing competition, consumer protection, fair trade, and product safety.
ASIC
The Australian Securities and Investments Commission (ASIC) serves as Australia's unified regulator for corporate affairs, financial markets, financial services, and consumer credit.
Circular economy
The circular economy model entails sharing, leasing, reusing, repairing, refurbishing, and recycling products and materials to extend their lifecycle.
CSR
Corporate Social Responsibility (CSR) comprises policies implemented by a company to positively impact the world.