Carbon Targets
At their most basic, carbon targets are the carbon reduction goals set by organisations. These specific goals are often guided by regulatory requirements and standardised carbon reduction frameworks such as Science Based Targets (SBTs) and Net Zero Targets. Implementing either one of these guidelines follows a similar process and the main difference between the two lies in the magnitude of the intended results.
Science Based Targets
SBTs are emissions reduction targets that are based on the best available science, designed to keep global warming within safe limits and meet collective sustainability goals. SBTs:
Align with the latest scientific understanding of what is needed to limit global warming to safe levels
Provide a clear and ambitious goal for companies and governments to work towards
Can help to build a sense of urgency and momentum for action on climate change
However, SBTs:
May be difficult to implement, especially for organisations with highly polluting operations
May be challenging for businesses with high economic growth plans
May not be supported by government policies and regulations in some countries
Net Zero
Net Zero targets are considered to be more ambitious as they require organisations to both offset their emissions and actively work to reduce them as much as possible. Net Zero Targets:
Help limit global warming by reducing greenhouse gas emissions to a level that can be absorbed by natural sinks
Can drive innovation and investment in clean energy and low-carbon technologies
Can increase the resilience of businesses and communities to the impacts of climate change
However, Net Zero Targets:
May be too ambitious for organisations with limited resources
Can place a burden on businesses and consumers, leading to higher costs and lower economic growth
May be challenging for businesses with high economic growth plans
Another way?
Carbon targets are an essential part of any organisation's efforts to manage and reduce their carbon emissions, and both Net Zero and SBTs are effective strategies for achieving these goals.
Net Zero and SBTs are generally understood as “absolute” emission targets, which means they are based on reducing emissions by a set amount. However, there are other approaches to setting carbon targets that may be more realistic based on your organisation’s capabilities, including:
Intensity-based Targets: Setting targets based on the emissions intensity of an organisation’s operations. For example:
Emissions per unit of revenue
Emissions per unit of production
Bespoke Targets: Defining any type of target(s) based on your organisation’s own priorities. Bespoke targets can be more ambitious than Net Zero and SBTs in some areas while allowing for more gradual and sustainable carbon reductions in others. Achievable targets make it easier to meet your goals and adjust these according to your progress. Because bespoke targets are not necessarily tied to externally defined parameters, this flexible approach allows you to:
Prioritise the most important emission reductions and plan carbon management accordingly
Disaggregate your emissions and focus on portions at a time:
Specific areas such as Transport, Electricity and Waste
Specific Scopes and combinations of these (eg “just” Scopes 1 and 2 or “only” Scope 3)
Set any specific reduction percentage across specific areas, scopes, and/or overall
Plan your carbon management according to the specific targets you want to set
These bespoke targets are much liklier to be acheivable as they are instrinsically tied to what is possible for your organisation and therefore inherenetly more realistic.