Governments take note: science-based targets lead to faster emissions cuts, the right policy can cut them faster still

The We Mean Business Coalition highlights that companies using the Science Based Targets initiative (SBTi) are reducing emissions faster than the global average, noting a 12% cut in 2020 compared to a 5% global decrease. With 2,253 companies representing $38 trillion in market capitalization engaged with SBTi, the author urges G7 governments to align Nationally Determined Contributions (NDCs) with the goal of halving global emissions by 2030 and to create legal requirements for all companies to set targets. The document emphasizes that a just transition to clean energy—through renewables, electrification, and energy efficiency—is essential to enable businesses to decarbonize their value chains and meet these targets.

• Companies with approved science-based targets (SBTs) demonstrate faster emissions reductions than the general global trend; in 2020, these companies reduced emissions by 12%, while the global decrease was 5%.
• Between 2015 and 2020, companies with approved science-based targets achieved a total reduction of 29% in their scope 1 and 2 emissions, which cover operations and energy use.
• The Science Based Targets initiative (SBTi) has seen significant growth, with 2,253 companies now participating, representing a combined market capitalization of $38 trillion, or one third of the global economy.
• There is a correlation between corporate target-setting and national climate progress, with Europe leading as 46% of high-impact companies there set or committed to SBTs in 2021, supported by policies like the EU Green New Deal.
• To enable companies to meet their targets and stabilize the climate, governments must prioritize a just transition by phasing out fossil fuels and scaling renewables, electrification, and energy efficiency.

APA

Mendiluce, M. (2022). Governments take note: science-based targets lead to faster emissions cuts, the right policy can cut them faster still. We Mean Business Coalition. https://www.wemeanbusinesscoalition.org/blog/governments-take-note-science-based-targets-lead-to-faster-emissions-cuts-the-right-policy-can-cut-them-faster-still/

Chicago

Mendiluce, Maria. Governments take note: science-based targets lead to faster emissions cuts, the right policy can cut them faster still. We Mean Business Coalition, 2022. https://www.wemeanbusinesscoalition.org/blog/governments-take-note-science-based-targets-lead-to-faster-emissions-cuts-the-right-policy-can-cut-them-faster-still/.

Wikipedia

{{cite press release |last1=Mendiluce |first1=Maria |title=Governments take note: science-based targets lead to faster emissions cuts, the right policy can cut them faster still |publisher=We Mean Business Coalition |date=13 May 2022 |url=https://www.wemeanbusinesscoalition.org/blog/governments-take-note-science-based-targets-lead-to-faster-emissions-cuts-the-right-policy-can-cut-them-faster-still/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{mendiluce2022governments, author = {Mendiluce, Maria}, title = {{Governments take note: science-based targets lead to faster emissions cuts, the right policy can cut them faster still}}, publisher = {We Mean Business Coalition}, year = {2022}, month = may, url = {https://www.wemeanbusinesscoalition.org/blog/governments-take-note-science-based-targets-lead-to-faster-emissions-cuts-the-right-policy-can-cut-them-faster-still/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }