Definition 1
Long-Term Science-Based Target means [an organisation/ a Project]'s target to reduce Scope 1, 2 and 3 Emissions by [2050/2040] that has been validated by the Science Based Targets Initiative (SBTi).
Definition 2
Long-Term Science-Based Target means [an organisation/ a Project]'s target by [2050/2040] to reduce:
(a) at least [95%] of its scope 1 and 2 emissions; and
(b) at least [90%] 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 now, to attain their target.
Long-term science-based targets are crucial therefore for aligning corporate organisational emissions with reaching net-zero at global or sector levels in eligible 1.5°C pathways by 2050 or sooner.
The definitions in both options align with the Science Based Target initiative (SBTi) Corporate Net-Zero Standard.
Option 1 requires companies to be validated by SBTi.
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% of company-wide scope 1 and 2 emissions and 90% of scope 3 emissions. However, long-term science-based targets can differ according to sector. For example, in the forest, land, and agriculture (FLAG) sector, companies should reduce their scope 1, 2 and 3 emissions by 80%.
Please see the SBTi's Corporate Net-Zero Standard paper for sector-specific targets.