The CDP Science-Based Targets (SBT) Campaign offers CDP Capital Markets signatories and Supply Chain members the opportunity to play a key role in accelerating the adoption of science-based climate targets in the corporate sector, by collaboratively engaging companies on this matter.
This unique campaign builds on CDP’s tried and tested collective engagement mechanism – and our experience as one of the founding partners of the Science-Based Targets initiative (SBTi) – to accelerate the adoption of science-based targets.
In driving the adoption of science-based targets, financial institutions and companies can decarbonize their portfolios and supply chains to mitigate their climate-related risks.
If you are a Supply Chain member and want to join the campaign, please contact your CDP Account Manager.
The latest Intergovernmental Panel on Climate Change report makes it clear that without immediate and deep emissions reductions across all sectors, limiting global warming to 1.5°C will be impossible.
Science-based targets provide a roadmap for reducing emissions at the pace and scale that science tells us is necessary to avoid the most catastrophic effects of climate change.
Companies from across the globe must urgently set robust, credible targets via the SBTi as a first crucial step to keep warming below 1.5°C and ensure a safe future for people and planet.
The campaign is simple.
The campaign and its purpose are well aligned with our own work with climate-related risks and opportunities. To remain an attractive investment, it is essential that a company develops a climate strategy that aligns with the objectives of the Paris agreement.Sandra Metoyer, Head of Responsible Investments AP Pension
|May 2 – June 30, 2022||Stakeholders’ sign-up. |
Extension possible until the 31st of July upon request
|October 2022||Company outreach
+ CDP press release
+ 2021 Campaign Progress report publication
|October 2022 – October 2023||Continuous corporate engagement and commitment
We are launching this campaign with a webinar on Wednesday May 25th, 2022 where we will discuss the Science Based Targets initiative Net-Zero Standard, present the CDP SBT campaign, and hold a Q&A session.
To support the engagement efforts of the campaign and amplify its impact, CDP will announce details to press in October, 2022. Please see below for last year’s press release and campaign progress report.
The full list of financial institutions participating in the 2022 campaign will be available to view here following the campaign launch
For more information, please email: [email protected]
CDP supply chain members may request that their suppliers in the high-impact sample also set science-based targets.
The full list of CDP supply chain members participating in the 2022 campaign will be available to view here following the campaign launch.
If you are a Supply Chain member and want to join the campaign, please contact your CDP Account Manager
Which companies will be contacted?
The campaign will target the most climate-relevant companies within the global investable market. CDP has carefully curated this sample with the MSCI ACWI Index as a starting point, and applied a number of filters to ensure maximum impact and relevance, both from the climate and investment perspectives. See our methodology for more detail.
|Number of companies (estimated)||Total market cap||Total GHG emissions (Scope 1,2,3)||% of MSCI ACWI coverage|
|CDP High Impact SBTs Campaign sample||1,200||$ 28 000 billion||22,29 Gt||26% (750) of MSCI ACWI|
*These numbers are estimations. Final target list will be finalized by end of September.
Can campaign supporters choose which companies they engage with in this campaign?
No. To harness the power of this collective engagement and make this campaign more accessible to our signatories and supply chain members, CDP and the SBTi have identified the most climate-relevant companies, and will contact these on behalf of campaign supporters.
Does the list of companies engaged through the campaign change year-on-year?
The list of companies engaged through this campaign is refined each year. Those which have joined the SBTi since the previous edition of the campaign are removed and the list is also updated based on recent mergers and acquisitions. In 2022, companies operating in the fossil fuels industry have also been removed in light of the SBTi’s updated fossil fuel policy, as have companies in Russia and Belarus, as the SBTi is not currently accepting commitments or targets from companies based in these countries.
How do campaign supporters take part in this campaign?
Capital Markets signatories must simply fill in this sign up form by June 30, 2022.
Supply Chain members need to contact their account manager to discuss eligibility and next steps.
How much work does this entail for campaign supporters?
We have set this campaign up to be as accessible as possible for our CDP signatories and Supply Chain members. All signatories need to do is sign up to the campaign, and CDP and SBTi will take care of the rest. Of course, it is always helpful to engage directly with companies on this topic as well, but that can be done at the discretion of each participating campaign supporter.
To support direct corporate engagement, multiple resources will be shared with capital markets participants:
Can all Capital Markets participants take part in this campaign?
To support this campaign, you simply need to be a CDP capital markets signatory. If you are not yet, find out how to become a signatory,
No, to be a Supply Chain member for the campaign your company must meet certain criteria. Please contact your CDP Account Manager for more information.
How long will the campaign last?
The campaign will run from October 2022 until October 2023 and is then expected to run annually.
How is this different from other investor engagement initiatives in the market?
This campaign is the only collaborative engagement allowing a global network of financial institutions and corporates with robust climate targets to ask hundreds of high-impact companies to set a science-based target. The 2022 campaign is the third year CDP has run this unique campaign.
Can I see the letters sent to companies with my signature?
Yes – you can view the 2021 letters that were developed for companies tailored to their circumstances. The letters will be slightly edited for the 2022 campaign but will remain very similar to 2021 letters.
How is this different from CDP’s other engagement campaigns like the annual disclosure cycle or the Non-Disclosure Campaign?
CDP’s annual disclosure campaign, supported by all CDP signatories and Supply Chain members, invites companies to disclose their environmental data.
The Non-Disclosure Campaign (optional for signatories) allows CDP Capital Markets signatories to target specific companies that have not responded to CDP’s disclosure request in the previous year.
This SBTs Engagement Campaign (optional for signatories) allows CDP signatories and Supply Chain members to accelerate more ambitious corporate action by specifically asking companies to set a science-based target (SBT).
How will the success of the campaign be measured?
The success of this campaign will be assessed by looking at how many of the target companies joined the SBTi during the time of the campaign. We will release a full one-year impact report next year.
In 2021, the results of the campaign were analyzed in terms of numbers of companies having joined the SBTi, the Greenhouse Gas emissions represented, and the influence financial institutions – and particularly those supporting the campaign – had on companies’ decision to join the SBTi. Please see the 2021 Progress Report.
Given the ongoing global challenges and economic uncertainty, is there any pushback from businesses over the difficulty of setting long-term goals in this environment?
We understand and fully empathize with the many organizations that continue to face ongoing global challenges. Through our own work, we are seeing positive signs that businesses and capital markets have not lost sight of the importance of mitigating and managing their own impact to avoid the disastrous economic and human losses linked to the climate crisis.
How do companies benefit from setting science-based targets?
Over 2900 companies have joined the Science Based Targets initiative and more than 1,300 of these companies already have approved science-based emissions reduction targets in place. SBTs present global best practice in emissions target-setting and it makes business sense – it future-proofs growth, saves money, provides resilience against regulation, boosts investor confidence, spurs innovation and competitiveness – while also demonstrating concrete sustainability commitments to stakeholders. To find out more, visit the Science Based Targets initiative website.
How will CDP support companies in setting science-based targets?
Companies contacted as part of this campaign are provided with useful links to tools and resources, and are invited to contact their local CDP office to receive further support in joining the Science Based Targets initiative.
Which organizations backed the campaign last year?
The full list of financial institutions and Supply Chain members which supported last year's campaign is published here.