“By aligning their goals with scientific principles, companies are taking the lead in the transition to a low-carbon economy and signaling their commitment to fighting climate change,” said Laura Albuquerque, coordinator of the CEBDS Climate TC. The event was attended by 42 representatives from 21 CEBDS member companies and 10 public and private partners.
The efforts already planned by all countries – in their nationally determined contributions (NDC) – will not be enough to achieve the main goal of the Paris Agreement: keeping the global temperature increase below 2ºC. Therefore, it is necessary to increase efforts to achieve this scenario. Since the business sector is one of the main allies in the fight against climate change, how can we maximize the contribution of companies to reducing greenhouse gas (GHG) emissions? This was one of the axes of the workshop on Science-Based Targets, held last Thursday (9) by the Brazilian Business Council for Sustainable Development (CEBDS), in partnership with the CDP and the initiative We Mean Business, in Sao Paulo (SP).
O workshop It was attended by 42 representatives from 21 companies associated with CEBDS and 10 public and private partners.
Between one lecture and another, one thing is certain: science-based emissions targets must be the foundation of corporate climate action. And to be considered “science-based,” such targets must be aligned with the level of decarbonization needed to achieve the Paris target.
“The business sector is one of the main allies in reducing GHG emissions and needs to set more ambitious goals. By aligning their goals with scientific principles, companies are taking the lead in the transition to a low-carbon economy and signaling their commitment to fighting climate change,” said Laura Albuquerque, coordinator of the Thematic Chambers on Climate Change and Energy and Sustainable Finance at CEBDS.
In addition to helping the sector design and achieve more ambitious objectives, defining goals brings opportunities and encourages the search for innovative solutions.
According to Carla Schuchman, from CDP, companies that adhere to science-based targets are ahead of the rest. “By setting targets, companies will be better able to meet the ambitious and innovative needs of the transition to a low-carbon economy, better prepared to respond to political and legislative changes, and demonstrate proactive management for the stakeholders”, he pointed out in his presentation, which was followed by an animated quiz about the opportunities present in the Brazilian NDC.
In the panel “Introduction to Science-Based Targets,” speakers André Naur from WWF, Sergio Pacca, professor and researcher at the University of São Paulo, and Keyvan Macedo, Sustainability Coordinator at Natura, shared their experiences. “We celebrated 10 years of the Natura Carbon Neutral Program in 2017, which means that what we have discussed here represents a challenge that we set ourselves 10 years ago, inspired by the need for the private sector to start taking action, without necessarily having government incentives,” said Macedo.
Henrique Pereira, from Way Carbon, discussed the lessons learned in defining the goals. “Science-based goals indicate what needs to be done, but not how it will be done. In this sense, other aspects are relevant, such as engagement, communication and integration into corporate strategy and risk management,” he highlighted.
Pedro Faria, from CDP Portugal, presented the approach and methods for setting science-based targets, highlighting the tool Science Based Target Setting Tool, developed to calculate companies’ reduction targets according to their scope of action and in view of the Paris Agreement. “Setting science-based targets represents a long-term game, it is a memory of the future”, he defined. In the afternoon, participants did practical exercises and calculated a company’s target using the tool.
On the occasion, Laura presented the new CEBDS study, entitled “Opportunities and Challenges of the Brazilian NDC Goals for the Business Sector”, and told participants that the main opportunity for companies will come from the expansion of the use of biofuels. The study is expected to be released this semester.
The first panel of the workshop was broadcast live on the CEBDS Facebook page and can be watched here.
Science Based Targets Initiative
Formed by CDP, UN Global Compact, WWF and World Resources Institute, the Science Based Targets Initiative has 216 associated companies committed to defining science-based emissions reduction targets.
The initiative aims to increase corporate ambition and help companies pursue bolder solutions to climate change. It supports companies in setting emissions reduction targets in line with what science says is needed to keep global warming below 2°C. The aim is for science-based target setting to become standard business practice by 2018 and enable corporations to play a key role in closing the emissions gap left by countries’ commitments under the Paris Agreement.
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