Our Approved Target with the Science Based Targets initiative (SBTi)
We are proud to announce that our climate target has been officially approved by the Science Based Targets initiative (SBTi).
What is an Approved Target?
An Approved Target is a climate target that has been independently validated by the SBTi and confirmed to meet all of its scientific criteria.
How It Works
After we develop and submit our climate target, it undergoes a technical assessment by SBTi Services.
If the target meets all requirements, SBTi issues:
- An official approval letter
- A validation report
Requirements for an Approved Target
To receive and maintain SBTi approval, our climate target must meet the following criteria:
1. Emissions Coverage
- Must cover Scope 1 and Scope 2 emissions.
- Must also cover Scope 3, if these account for more than 40% of total emissions.
2. Alignment With Climate Science
- Targets must be aligned with pathways limiting temperature rise to:
- 1.5°C, or
- “well-below 2°C” scenarios.
3. Reporting & Updates
- Progress must be reported annually.
- Targets must be updated at least every 5 years to stay aligned with the latest climate science.
SBTi Communications Guide We must follow the SBTi Communications Guide for companies and financial institutions, paying particular attention to: Pages 2–3: Rules for correct public communication about approved targets. Pages 8–9: Requirements for using SBTi wording, categories, and visual elements. These guidelines ensure that all communication is accurate, compliant, and reflects the integrity of the SBTi framework.
