Stabinsky quoted in launch of world's first Net-Zero Corporate Standard
The Science Based Targets initiative (SBTi), a global body enabling businesses to set emissions reduction targets in line with science, launched the world-first Net-Zero Corporate Standard on October 28.
Recent years have seen an influx of net-zero commitments from companies, with 80% of global GDP covered by commitments to reach net-zero by 2050. However, the quality and ambition of such commitments have been inconsistent, leading to criticism and skepticism around the credibility of corporate net-zero targets.
To combat this, the SBTi’s Net-Zero Standard is the world’s first science-based certification of companies’ net-zero targets in line with the Paris Agreement’s goal of keeping planetary warming to 1.5°C.
Switzer Fellow Doreen Stabinsky was quoted at the launch event about the need for a net-zero standard and the urgency of taking action:
The planet has already warmed more than 1 degree C, and every tenth of a degree of additional warming will exponentially increase the chances of sea level rise and extreme weather, such as droughts, fires, heat waves and floods, Stabinsky said. ...
Emissions targets for 2050 are meaningless if we don’t act this before 2030, Stabinsky said, adding that, “This decade is the critical decade to act.”