Founded in 2015, the Science Based Targets Initiative (SBTi) created a set of Science Based Targets (SBT) to encourage businesses to set science-based emission reductions targets based on climate science.

There are three emissions scopes. Scope 2 indirect emissions sources are associated with the generation of electricity, heat, steam and/or cooling; reporting of all scope 2 emissions is mandatory under the WBCSD/WRI protocol

There are three emissions scopes. Scope 1 emissions are d irect emissions sources resulting from company owned machinery, facilities, and vehicles; reporting of all scope 1 emissions is mandatory under the WBCSD/WRI protocol

There are three emissions scopes. Scope 3 are indirect emissions which result from all other activities and sources not covered in scope 2. This includes business travel, commuting, waste, and 3rd party deliveries; reporting of all scope 3 emissions is typically not mandatory.

In GHG reporting and accounting, a year chosen as a basis against which future emissions are compared.

Founded in 2015, the Science Based Targets Initiative (SBTi) created a set of Science Based Targets to encourage businesses to set science-based emission reductions targets based on climate science. In 2021 the SBTi also released the Corporate Net Zero Standard, a framework aiming to keep companies on track within the 1.5-degree temperature increase limit set by the Intergovernmental Panel on Climate Change (IPCC).

In the UK, the SECR (Streamlined Energy and Carbon Reporting) regulations replaced the Carbon Reduction Commitment (CRC) scheme on 1st April 2019 in an attempt to simplify reporting requirements whilst bringing almost 8,000 more businesses into the UK’s mandatory carbon reporting . The reporting requirement of energy and carbon for all large organisations in the UK (except for some exemptions, see below) is in line with the Taskforce on Climate-related Financial Disclosures (TCFD) recommendations.

On June 21st, 2021, a pivotal moment in the United Kingdom's commitment to combat climate change occurred with the release of an impactful Public Procurement Notice (PPN) by the UK government. This notice heralded a significant shift in the nation's approach to public contracts, aiming to align economic activities with environmental sustainability. The essence of this was to compel every entity bidding on UK public contracts valued at £5 million or more, to take concrete steps towards mitigating their carbon footprint and fostering a sustainable future. This mandate marked a turning point in the UK's stance on environmental responsibility, as it established a clear deadline, that by September 30th 2021, all prospective bidders were required to measure their current carbon footprint and to set forth a comprehensive Net Zero target for the year 2050.

FAQs Archive | Page 4 of 5

Q: Carbon Dioxide Equivalent

Measure of global warming calculated by applying the global warming potential to the emissions of each contributing greenhouse gas; used to express the normalized global warming impact of each greenhouse gas.

Q: Protected Forest Areas

A clearly legal and geographically defined area of forest that is designated for conservation or sustainable management (such as a forest reserve or national park).