Definition 1
Long-Term Science-Based Target means [an organisation OR a Project]'s target to reduce Scope 1, 2 and 3 Emissions by [2050 OR insert date or year before 2050] that [has been validated by OR is compliant with] the [Science Based Targets initiative (SBTi) OR insert other validation method or standard].
Definition 2
Long-Term Science-Based Target means [an organisation OR a Project]'s target by [2050 OR insert date or year before 2050] to reduce both of the following:
(a) at least [95 (ninety-five)] percent of its scope 1 and 2 emissions; and
(b) at least [90 (ninety)] percent of its scope 3 emissions.
Drafting notes and guidance
Long-term science-based targets clearly show companies how much they need to reduce their scope 1, 2 and 3 emissions by, to attain their target.
Long-term science-based targets are therefore crucial for aligning corporate organisational emissions with reaching net-zero at global or sector levels in eligible 1.5 Celsius pathways by 2050 or sooner.
The definitions in both options align with the Science Based Target initiative (SBTi) Corporate Net-Zero Standard.
Option 1
Option 1 requires companies to be validated by SBTi.
Option 2
Option 2 aligns with the Corporate Net-Zero Standard but does not require SBTi validation.
The SBTi recommends a five-step approach to setting a long-term science-based target:
- selecting a base year;
- calculating emissions;
- setting target boundaries;
- choosing a target year; and
- calculating targets.
Long-term science-based targets must cover at least 95 percent of company-wide scope 1 and 2 emissions and 90 percent of scope 3 emissions. However, long-term science-based targets can differ according to sector.
Please see the SBTi's Corporate Net-Zero Standard and additional resources linked here for sector-specific targets.