On the 27th of July, DFGE and the World Environment Center hosted a webinar on how companies respond to the Science-Based Targets. The attendance of 80 participants proved that there is a true interest to address this topic.
Science-Based Targets Webinar panelists
The science-based targets panelists gathered NGOs and institutions, responding companies and DFGE who supports companies in addressing CSR topics. More precesily, Cynthia Cummis (WRI – World Resources Institute), Andreas Horn (BASF), Galya Tsonkova (Coca Cola HBC) and Wolfgang Berger (DFGE – Institute for Energy, Ecology and Economy) exploring current trends on how companies are working with the SBTs, an innovative approach to corporate greenhouse gas (GHG) target setting. Frank Werner of the World Environment Center moderated the session
Key messages of the Science-Based Targets webinar
- Companies are committed to reduce science-based targets
More than 170 committed to establish Science-Based Targets through the Science-Based Targets Initiative. The most represented sectors are Financials Food and Beverage and then utilities. Why such companies decide to set SBTs?
- Companies motivations change
Mrs Cummis from WRI said that there is a shift from how much CAN my company reduce to how much MUST my company reduce. Companies feel the need to actually tackle climate change. Dr. Horn from BASF says that business motivation is a mix between „Push“ (by external institutions like CDP or other stakeholders) and „Pull“ (like sector decarbonization). For Mrs Tsonkova from Coca-Cola Hellenic, setting science-based targets is a „natural evolution of what [they] are doing“ and in „[their] DNA“. For DFGE, there are several benefits to set such targets: ensuring better transparency, defining a target with real impact, … Once motivation is here, you need to start setting your science-based targets!
- Companies face various challenges in setting SBTs
Mrs Tsonkova said you need to engage the management. For Mr Horn, several challenges lie ahead, including the understanding of the model, complex wording, how to integrate scope 2 emissions …
In general, companies need to choose a proper approach, as well as a proper breakdown of their targets. Various solutions are possible.
- Solutions are available!
Coca-Cola Hellenic made a benchmark and an analysis of costs versus benefits to engage the management.
DFGE presents concrete solutions from goals to next steps. For instance, if organizations want to understand the methodology and define their own SBT process, they can organize a workshop to review the company and sector status and to define calculation patch.
DFGE encourages companies to set such targets and is happy to provide any support. If you want more details about solutions on setting SBTs, contact us at or consult our webpage. If you want to see the recording of the webinar, contact us and we will provide you with credentials.
