Why has Eficode made this commitment?
The impact of climate change can be seen all around us, and the need for robust, credible, and ambitious climate action is more urgent than ever. That is why organizations from across continents and industries are setting SBTi-validated targets in record numbers. The fight against climate change is global, and we must continue this work to drive corporate decarbonization with tenacity and optimism.
Science-based target setting is imperative for our planet and makes business sense. It supports operational efficiency, provides resilience, and spurs innovation and competitiveness, ensuring we continue to create value for our customers and stakeholders.
What have we committed to do?
We’ve made a public commitment to set near-term and long-term targets in line with science-based net zero with the SBTi. We have 24 months from committing to submit our targets for validation with SBTi, but we hope to do so much faster.
What are near-term and long-term targets?
Near-term targets: Rapid, deep cuts to direct and indirect value-chain emissions must be the overarching priority for companies. Companies must set near-term science-based targets to roughly halve emissions before 2030. This is the most effective, scientifically sound way of limiting global temperature rises.
Long-term targets: Companies must set long-term science-based targets and cut all possible (usually more than 90%) emissions before 2050.
About the SBTi
The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables organizations and financial institutions worldwide to play their part in combating the climate crisis. They develop standards, tools, and guidance that allow companies to set greenhouse gas (GHG) emissions reduction targets in line with what is needed to keep global heating below catastrophic levels and reach net zero by 2050 at the latest.
Science-based targets provide companies with a clearly defined path to reducing emissions in accordance with the Paris Agreement goals. More than 6,000 businesses worldwide are already working with the Science Based Targets initiative (SBTi).
What’s next?
We recognize that committing is the easy part. Over the coming months, as we develop our targets, we’ll also be working on further refining and improving our carbon accounting to ensure we have a solid baseline, building capacity within our business to implement measures to track and report on progress, and engaging with stakeholders across our value chain to develop effective carbon reduction initiatives.
You can keep up to date with our progress via our website.
Published: Jan 14, 2025
