Science-based targets are emission reduction targets in line with what the latest climate science says is needed to meet the goals of the Paris Agreement — to limit global warming to well below 2°C above preindustrial levels and pursue efforts to limit warming to 1.5°C.
In line with the historic Paris Agreement, the transition to a zero-carbon economy is underway and is accelerating globally. Many corporations worldwide are preparing for the transition by setting emission reduction targets grounded in climate science. The latest science has made it clear that more needs to be done — and faster — in order to avoid the worst impacts of climate change and secure a thriving, sustainable economy.
Tata Chemicals has set an emission reduction target of 28 percent absolute carbon emission reduction by 2030, while it continues to pursue long-term growth. Tata Chemicals has had its emission reduction targets approved by the Science Based Targets initiative as consistent with levels required to meet the goals of the Paris Agreement. The targets covering greenhouse gas emissions from Tata Chemicals’ operations (scopes 1 and 2) are consistent with reductions required to keep warming to well below 2°C. Tata Chemicals is now joining the ranks of the nine chemical companies that have set their SBTi targets already, moving from ‘committed’ to ‘targets set’, and is probably the first Indian chemical company to do so.
The next few years are critical, and the company has a vital role to play in helping achieve transformation at the pace and scale that is needed. Aligned to its vision, ‘Serving Society Through Science’, Tata Chemicals believes that by taking science-based climate action it will benefit from greater opportunities for innovation, strengthened investor confidence and improved competitiveness.
