A critical evaluation of the science based targets initiative (SBTi)

Abstract

Global temperatures have been rising constantly over the past century, with drastic increases in the last few decades. 2011-2020 was announced as the warmest decade ever recorded. With global temperatures 1.1 degree Celsius higher than it was a century ago, it is high time that we took impactful steps to counter global warming and sustain the current scenario, if not reverse the climate change. The Paris Climate Accord or the Paris Agreement was adopted in 2015. It is a legally binding international treaty on climate change that targets the limiting of global warming to well below 2 degrees celsius, preferably to 1.5 degree celsius compared to pre-industrial levels. This requires the reduction of greenhouse gas emissions and corporations play a major role in this. As companies try to attest their name to the sustainability and eco-friendly bandwagon, they set targets for the next few years - 2025, 2030, 2050, and so on. While these targets may portray a positive shift in the attitude towards climate change, the possibility that this actually leads to a shift in action and result is not guaranteed.