SBTi Net Zero Standard Event Slides
SBTi Net Zero Standard Event Slides
SBTi Net Zero Standard Event Slides
NET-ZERO
Net-Zero Standard Launch Event
2 2
AGENDA
Welcome
OLWEN NIGEL
SMITH TOPPING
Regional Lead, UK & UN High-Level Climate
Worldwide, Call to Action Action Champion
Science Based Targets
initiative
4
Opening – Session 2
PAOLA NIGEL
DELGADO LUNA TOPPING
Head of Engagement UN High-Level Climate
Action Champion
Science Based Targets
initiative
5
CONVERSATION ON
NET-ZERO WITH
BUSINESS, SCIENCE,
AND CIVIL SOCIETY
PANEL – Session 1
NARAYAN NICOLAS
PS CLERGET
Global Head, Sustainability Global Sustainable
and Social Initiatives Development Manager
Wipro Ltd The HEINEKEN Company
9
PANEL – Session 2
10
SCIENCE BASED TARGETS INITIATIVE
NET-ZERO
Net-Zero Standard Launch
Event
28th October, 2021
Presentation – Session 1
12
Presentation – Session 2
ANDRES
CHANG
Research Manager
Science Based Targets
initiative
13
AGENDA
Introduction to science-based
targets
Acknowledgements and
appreciation
Call to action
14 14
INTRODUCTION TO
SCIENCE-BASED
TARGETS
INTRODUCTION TO THE SBTi
What is the Science Based Targets initiative?
17
INTRODUCTION TO THE SBTi
What are science-based targets?
5 to 10 years
Science-based targets help companies determine how much and how fast
they need to reduce GHG emissions to align with efforts to limit warming to 1.5°C.
INTRODUCTION TO THE SBTi
Progress to date
To learn more about the progress of the initiative, consult the SBTi Progress Report 2020.
19
INTRODUCTION TO THE SBTi
PROGRESS TO DATE
20
WHY HAS THE SBTI
DEVELOPED THE NET-
ZERO STANDARD?
What does net-zero mean?
Understanding net-zero at the global level
The imbalance between
at
the amount of greenhouse
H Gs th he
r G
Othe ulate in
accu m
re
t
gases (GHGs) released into
sphe
atmo the atmosphere by
CO 2
nt of s humans and the amount
s
o u
r
GHG
am te
Othe
e, Net- ccumula re
gric ultur tha t a
tmos
p e
h
of carbon absorbed by
A . a
st e, etc in t he
r
w a y yea
u se ch
ange
ever natural sinks, results in a
Land
net accumulation
` of GHGs
in the atmosphere.
CO2
l fuel
Fossi stion
u vals
comb ustry CO2
remo
ind
&
Accumulation of GHGs in
s ed
a n-cau ls
Hum remova
the atmosphere is the
main driver of
um
ause
an-c ions
d anthropogenic climate
H s
emis
GHG change.
What does net-zero mean?
Understanding net-zero at the global level
ns
missio
GHG e
To limit global warming to
CO2 re
movals
GHG emissions CO2 removals 1.5°C, we must reach net-
zero carbon emissions no
later than 2050.
`
Anthropogenic GHG
emissions
Anthropogenic carbon
removals
Why has the SBTi developed a Net-Zero Standard?
The science behind aiming for 1.5°C
Decline in marine
fisheries
1.5M tonnes 3M tonnes 2x worse
Source: Levin, K. (2018, Oct 7). 8 Things You Need to Know About the IPCC 1.5˚C Report. Retrieved from
Source: Climate Action Tracker, May 2021 update
https://www.wri.org/blog/2018/10/8-things-you-need-know-about-ipcc-15-c-report
Why has the SBTi developed a Net-Zero Standard?
Since the release of the IPCC Special Report on 1.5°C, there has been rapid
growth in the adoption of net-zero pledges.
2020 2021
Publication Set up of
of the Net- Road-
Expert Initial draft 1st public 2nd public
Zero testing Launch
Advisory of criteria consultation consultation
Foundations process
Paper Group
Produced in
collaboration with more
than a dozen pioneering
This paper lays out the academics, IPCC lead
conceptual foundations authors and mitigation
for credible, science- experts, this technical
based net-zero targets for summary provides an
the corporate sector. overview of how the
SBTi selects mitigation
pathways to steer
action.
32
WHAT IS A SCIENCE-
BASED NET-ZERO
TARGET?
Four key elements make up the Net-Zero Standard framework
1.5°C-aligned
emissions
pathway
4
3
Removals
Abatement or removals beyond
a company’s value chain
1.5°C-aligned
Most companies will be
emissions required to reduce
pathway
4
emissions by 90% or more
3
before reaching net-zero.
Removals
Abatement or removals beyond
a company’s value chain
Removals
Abatement or removals beyond
a company’s value chain
Scope 1+2: 95% Scope 1+2: 1.5°C 5-10 years 1. Absolute contraction
2. Physical intensity
Near-term Scope 3: If >40% of total Scope 3: Well-below convergence
science- emissions, 67% 2°C
3. Renewable electricity
based target coverage
4. Supplier or customer engagement*
5. Economic intensity*
6. Physical intensity contraction*
1. Absolute contraction
Scope 1+2: 95% Scope 1+2+3: 1.5°C 2050 latest
2. Physical intensity
Scope 3: 90% convergence
Long-term
3. Renewable electricity
science-
4. Economic intensity*
based target
5. Physical intensity contraction*
* Scope 3 only
Acknowledging challenges with Scope 3, the Standard A comprehensive target
boundary is necessary for
is following an expansive boundary approach companies to make credible
net-zero claims. However,
90% boundary for long-
term targets
acknowledging the
(by 2050) challenges with Scope 3
67% boundary for near- data, the Net-Zero Standard
term targets
(5 to 10 years) is following an expansive
boundary approach.
39
To follow on from the Net-Zero Standard, the SBTi has planned three
projects to tackle challenges related to net-zero
Measurement,
Beyond Value Net-Zero Value
Reporting &
Chain Mitigation Chains
Verification
It is vital companies have clarity on The SBTi recognizes the challenges The SBTi will develop an MRV
how to take credible mitigation around scope 3 and is planning to framework to ensure transparency
actions beyond their value chain. The further develop scope 3 target setting and accountability around the
SBTi is exploring models to incentivize methods and explore other progress and achievement of
this in a credible and robust way. approaches to drive net-zero value science-based emission reduction
chain alignment. and net-zero targets.
ACKNOWLEDGEMENTS
& APPRECIATION
Acknowledgements & appreciation from the SBTi
As part of the Net-Zero Standard development process, the
SBTi engaged over 800 stakeholders
543 42 2 84
Permanent Road test
Global leaders
Responded to the Advisory Groups companies
gave vital input as
public gave essential provided feedback
part of our Expert
consultations guidance and on guidance,
Advisory Group
feedback methods and tools
84 companies took part in the road test, providing crucial
feedback on guidance, methods and tools
• WayCarbon
• ab inbev • easyJet • McCain Foods
• Wipro Ltd
• A.P. Moller-Maersk • EDF Group • Moody's
• Worley
• ABOUT YOU AG & Co. KG • EDP Energias de Portugal • Multiplex Construction Europe
• WSP Global Inc.
• ACCIONA Energía • Elopak • Ørsted
• ACCIONA S.A • Emira Property Fund • Outokumpu Oy
• AstraZeneca • Enel S.p.A. • PepsiCo
• Baluarte Cultura • Ferrovial • Pfizer Inc.
• Bayer AG • FLSmidth A/S • Pilgrim's UK
• Bloomberg LP • Givaudan • Ralph Lauren Corporation
• BMW Group • Globant • Rolls-Royce plc
• Bonava • Guidehouse • Slaughter and May
• Boston Consulting Group • HEINEKEN • Sodexo
• Capgemini SE • Holcim Ltd. • Sopra Steria Group
• CBA • Informa • Starbucks
• CBRE • International Consolidated Airlines Group (IAG) • Swire Properties Limited
• Colgate Palmolive Company • Jacobs • Swiss Re
• Co-op • JLL • Telenor ASA
• CVS Health • Kesko Corporation • Transurban
• Danone • Lenovo • Tubacex
• Dentsu International • Magyar Telekom Plc. • Unilever
• Deutsche Telekom AG • Mahindra Lifespace Developers Limited • Veritas Technologies
• DSM • Mars • Volkswagen
NET-ZERO
The net-zero validation
booking system opens today!
When you are ready, book
your slot*.
`
COMPLETENESS TIMEFRAME AMBITION EARLY ACTION ACCOUNTABILITY
Covers all material Aims to reach net- Leads to Leads to action in Target will be
sources of zero within a decarbonisation the short-term subject to a robust
emissions across timeframe that is consistent with through the and independent
the value chain of a consistent with limiting warming to adoption of near- accountability
company limiting warming to 1.5°C in line with term emission framework
1.5°C robust climate reduction targets
scenarios
*To support our operating costs, the fee for the target
validation service is USD 9,500 (+ applicable VAT) or USD
1,000 (+ applicable VAT) for SMEs.
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We are urgently calling on all
companies to set science-
based net-zero targets.
JAKOB
ASKOU BØSS
Senior Vice President
Ørsted
Presenter
53 Name | @presenterhandle 53
NET-ZERO IN PRACTICE:
JLL CASE STUDY
Net-Zero in Practice: JLL
RICHARD
BATTEN
Chief Sustainability Officer
JLL
Presenter
68 Name | @presenterhandle 68
October 28, 2021
Agenda
• About JLL
• Our progress
Activity
Emissions Scope 1, 2, 3 1 3
2018 baseline emissions 30,614 31,164 17,547,735
mt CO2e
Activity