Glove Intelligent Assistant
04.09.2024
SBTi is a third party corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. The organization is a collaboration between the CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature. It was founded in 2015 to provide companies with specific GHG emission goals in accordance with the 2016 Paris Agreement.
SBTi evaluates that company targets are considered ‘science-based’ if they are in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement – limiting global warming to 1.5°C above pre-industrial levels. Such goals are separated under the 3 scopes of GHG accounting. Scope 1 covers all direct GHG emissions within a corporate boundary, scope 2 covers indirect GHG emissions from consumption of energy, and scope 3 covers emissions generated from suppliers and end users.
While targets are set by each individual company, SBTi lists the following guidelines. As per SBTi Criteria V5.0, companies must set 1.5° C aligned scope 1 & 2 targets, which must be achieved within 5-10 years from the date the target is submitted to the SBTi for validation. Companies must source renewable electricity at a rate that is consistent with 1.5°C, transitioning to 80% renewable electricity procurement by 2025 and 100% by 2030 as thresholds.
SW is proud to announce that we have been recognized by Science Based Target initiatives (SBti) for our sustainability efforts. We are always striving to reduce our carbon footprint and reduce our greenhouse gas emissions in our manufacturing process. We were for reducing greenhouse gas emissions in line with scientific recommendations, contributing to a sustainable and low-carbon emission future.
Scope 3 emission targets are not required but SBTi encourages companies to set one or more emission reduction targets and/or supplier/customer engagement targets that collectively cover at least 67% of total scope 3 emissions. Near-term targets outline the amount by which organizations will reduce their emissions by 2030, the first step in establishing Net Zero targets. In accordance with SBTi suggestions, SW’s own goal is to reduce absolute scope 1 & scope 2 GHG emissions 42% by 2030 from 2022 base year.
SW joins industry leaders like AstraZeneca, Procter & Gamble (P&G), Pfizer, and Kellogg Company in our commitment to combat climate change. So far US 527 companies have been recognized by SBTi and have committed to SBTi targets. *As of March 26,2024, the number of companies with approved targets may vary. The connection between our SBTi commitment and our customers lie in our shared dedication to sustainability and environmental stewardship. We’re committed to reducing greenhouse gas emissions, protecting the planet and resonating with eco-conscious customers prioritizing low-carbon businesses.
Our recognition from SBTi strengthens our credibility and our commitment to greenhouse gas reduction. It further aligns with our other third party accreditations. SW is a certified California Green Business, Skin Health Alliance (SHA) approved, and Forest Stewardship Council (FSC) certified. Our customers know that our sustainability goals translate into our actions. SW has historically been committed to protecting the environment and we continuously set new eco-friendly goals backed by credible scientific professionals.