IDI update: 100 companies set approved science-based targets
Boston Common has been part of a coalition of 60 investors coordinated by ShareAction calling on companies to establish Science Based Targets. The Science Based Targets initiative (SBTi) recently announced the positive milestone that over 100 companies have set approved science-based targets.
Spanning 23 countries and 28 industry sectors, over 100 companies – including L’Oréal, Electrolux and Mahindra Sanyo Special Steel – have set approved science-based targets to reduce their emissions in line with the Paris Agreement. See the SBTi’s interactive map here.
Over 90% of these companies have set a Scope 3 target to reduce emissions across their value chain.
Investors managing over $1trillion AUM, coordinated by ShareAction, are calling on more companies to commit to setting SBTs: see ShareAction’s press release here.
In addition, Boston Common has been advocating portfolio companies to establish Science Based Targets under its Eco-Efficiency initiative focused on its highest carbon emitter portfolio companies as well as Japanese companies in its recent targeted engagement with (Astellas, Kao, Orix, Panasonic and Shiseido).
The information in this article should not be considered a recommendation to buy or sell any security.