Emissions Reduction Target

We recommend signatories develop their reduction targets in line with the Science Based Targets Initiative (SBTi) guidance and methodology, including sector guidance where relevant.For companies developing Net Zero targets, we recommend these are developed in line with the SBTi’s draft framework and criteria, until the final standard is available in late 2021.

What are the requirements?

2017 Statement – minimum commitments

To set a public emissions reduction target consistent with keeping within 2° C of warming

  • As a minimum, all signatories must set a target covering their scope 1 and 2 emissions in full.
  • We also strongly encourage signatories to set targets for their material (e.g. significant) scope 3 emission sources.
  • Where a signatory sets a target that covers scopes 1, 2 and 3, they must be able to demonstrate that the ambition of the scope 1 and 2 part of the target is consistent to within 2°C.
  • Where a signatory sets a Net Zero target, or is already Carbon Neutral, this must be supported by either a public science-aligned reduction target, or a science-aligned reduction plan.

2019 Statement – additional commitments

To adopt targets grounded in science that will deliver substantial emissions reductions to contribute to New Zealand being carbon neutral by 2050. These targets will be considered in current planning cycles.

  • Signatories must demonstrate the ambition level of their reduction target (i.e. within 2°C, well below 2°C, 1.5°C) and show how it is science-aligned.
  • Signatories may optionally also set a Net Zero target.
  • Signatories must demonstrate how they are considering their targets in their planning cycles (e.g. Science-aligned reduction plan, CapEx planning, ring-fenced funds etc).

CLC Recommendations

We recommend signatories develop their reduction targets in line with the Science Based Targets Initiative (SBTi) guidance and methodology, including sector guidance where relevant.

For companies developing Net Zero targets, we recommend these are developed in line with the SBTi’s draft framework and criteria, until the final standard is available in late 2021.

What resources are available?

Science Based Targets Initiative (SBTi) guidance and methodology
The Science Based Targets Initiative drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets. Their guidance, methodology and tools are freely available, including sector-specific guidance for some areas.
The SBTi is also developing a Net Zero Standard, which is expected to be launched in late 2021.

SBC blog and Workshop series: Introduction, Approaches & Scenarios, Business Insights
SBC blog ‘On to a good target’ from Kate Alcock, and recordings from the workshop series by SBC, WWF-New Zealand and Toitū Envirocare, with business insights from Contact Energy, Ports of Auckland, and Fletcher Building.

Emissions Measurement & Management: SBC Quick Guide:
This guide provides information about companies in New Zealand and overseas who can help with measuring emissions, setting targets and reporting on performance.

CLC Emissions Reduction Case Studies:
The CLC Case Studies provide examples of other companies who have already set science-aligned targets and developed science-aligned reduction plans.