To strengthen climate action within the private sector, the European branch of the World Wildlife Fund (WWF) published a report on Thursday 29 February entitled ‘Corporate climate targets: ensuring the credibility of EU-regulated commitments’.
This document provides a detailed framework to help European companies navigate through the requirements of EU climate legislation, emphasising the need to adopt ambitious and credible climate targets.
The report highlights the central role of the Science Based Targets Initiative (SBTi) as a recommended tool for ensuring that corporate targets are aligned with the global imperative of no more than a 1.5°C rise in global temperature and comply with EU regulatory standards, in particular under the Corporate Sustainability Reporting Directive (see EUROPE 13302/21) and the Sustainability Due Diligence Directive, which is still under discussion (see EUROPE 13360/19).
The report’s recommendations aim to establish a process for defining climate targets in line with the EU’s 2030 climate objectives and the ‘European Green Deal’. However, the targets need to be followed up by the development and implementation of robust climate transition plans to truly assess and achieve companies’ climate ambitions.
Read the report: https://aeur.eu/f/b32 (Original version in French by Nithya Paquiry)