SBTi aiming to cut down target validating waiting time to under a month: CEO Luiz Amaral

In a blog post, Luiz Amaral, CEO of the Science Based Targets initiative (SBTi), a global coalition discusses the organisation’s future plans to guide corporate climate action. In his blog post, Amaral outlines SBTi’s new 2025 targets including a target of having $20tn of the global economy (in market capitalisation terms) under the SBTi umbrella by 2025. SBTi is actively involved in validating and evaluating corporate progress on climate change, a function that is expected to witness soaring demand in the near future. Amaral writes, “In January 2022, demand rose so much that it looked like some companies would have to wait up to a year to get their targets validated. That was not acceptable, so within three months, we’d halved that waiting time. Three months later we’d halved it again. We have delivered a 70% reduction compared to peak. This is a big improvement, but not enough. We want to go further. Our goal is that businesses should wait no longer than one month to start their target validation process, and we are significantly increasing capacity to make this happen”.