Science Based Targets Initiative removes fossil fuel companies’ commitments and validated targets

Read the full story at ESG Today.

The Science Based Targets initiative (SBTi), one of the key organizations focused on aligning corporate environmental sustainability action with the global goals of limiting climate change, announced today that it will on longer accept commitments or validate targets from fossil fuel companies, and will remove those with previous commitments, as it looks to develop peer reviewed oil and gas target setting methodologies.

In a statement announcing the move, the organization said that “the SBTi has updated its fossil fuel policy and will no longer accept commitments or validate targets from fossil fuel companies,” but noted that “companies may be reinstated following further development of the fossil fuel sector project.”

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