What are the key considerations for setting emissions reduction targets

Setting emissions reduction targets requires careful consideration of various factors to ensure they are realistic, achievable, and aligned with broader sustainability goals. First, companies must conduct a thorough baseline assessment of current emissions levels to understand their starting point. This involves identifying all significant emissions sources across Scopes 1, 2, and 3. Then, organizations should consider regulatory requirements and industry benchmarks to ensure targets meet legal standards and are competitive. Engaging stakeholders is also crucial to gain insights and support, ensuring targets are relevant and have buy-in from all parties involved. Additionally, companies should align targets with broader corporate objectives and international standards, such as the Science Based Targets initiative, to enhance credibility and impact. It’s equally important to establish a robust tracking and reporting system to monitor progress and make necessary adjustments. Key Takeaway: Emissions reduction targets must be realistic, legally compliant, and aligned with corporate and international standards.