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PTBeyond SBTi: other protocols that support decarbonization
The Science Based Targets initiative (SBTi) has become a global benchmark by offering a technical standard for companies that want to set decarbonization targets aligned with climate science. Its main purpose is to ensure trajectories aligned with the Paris Agreement, especially the 1.5°C warming limit. As the challenge of mitigating emissions becomes more complex and diverse in terms of industry sectors, other initiatives are emerging that support companies’ climate journey with the same goal beyond SBTi.
These protocols vary in terms of membership format, methodological rigor and technical focus, but they share the goal of aligning corporate plans with the Paris Agreement. Complementary to SBTi, other methodologies can go beyond the stated decarbonization ambition, also supporting execution, monitoring, and consistency between goals and operational practice.
Among the initiatives that accept formal adherence, the Race to Zero2 (RtZ) campaign, coordinated by the UNFCCC, is one of the most comprehensive. The campaign is not dedicated to sovereign nations, but rather to actors such as states, universities and investors. RtZ requires members to meet certain criteria, such as commitment, plan, progress and transparency. One entry point for companies is Business Ambition for 1.5°C, an initiative of SBTi with the UN Global Compact, in which organizations commit to science-based net zero targets. But there are other ways to join, as long as the campaign’s guiding commitments are respected.
Some Brazilian states, for example, have signed letters of intent to join Race to Zero. In São Paulo, the SP Carbono Zero commitment encourages organizations located in the state to present their direct emissions inventory and establish a decarbonization trajectory by 2050, and those that join RtZ are highlighted in the commitment. Although RtZ does not provide its own technical methodology, these commitments serve as a signal of a high level of climate ambition.
In the financial sector, the Net-Zero Asset Owner Alliance (NZAOA), aimed at large institutional investors, stands out. Alliance members must set intermediate targets, sector engagement targets and align their investments with the climate transition. A relevant and fundamental differential for the transition to a low-carbon economy is the focus on capital allocation, with an emphasis on financing climate-compatible activities and discouraging fossil assets. Although companies cannot directly join the alliance, its technical methodology has been used as a voluntary reference, including by companies in the energy and infrastructure sectors interested in preparing their assets in accordance with future investor requirements.
In the field of open technical methodologies, there are initiatives such as the Carbon Tracker Initiative and ACT (Assessing low-Carbon Transition). Carbon Tracker analyzes the climate alignment of companies based on specific metrics, such as analyses of the compatibility of investment plans with 1.5°C trajectories. ACT, developed by the French government and CDP, offers sectoral methodologies to assess the quality and ambition of transition strategies. Companies can apply ACT criteria voluntarily, even without formal adherence, to guide their decarbonization plans based on technical evidence, gaining transparency and credibility with investors, regulators, and civil society.
Other initiatives play an indirect regulatory role, such as Climate Action 100+, led by major global investors. The organization created the Net-Zero Company Benchmark: a set of indicators that assesses the quality of climate goals, the alignment of invested capital and the level of corporate transparency. Although they do not formally sign up, companies associated with investors are encouraged to comply with the criteria. The use of these benchmarks has expanded, including among companies not directly monitored, interested in anticipating market demands and attracting capital committed to the transition.
This set of initiatives demonstrates that there are multiple viable paths for organizations committed to decarbonization, beyond the SBTi. Protocols such as Race to Zero and NZAOA allow formal adherence with public commitments, while methodologies such as ACT, Carbon Tracker, and Climate Action 100+ serve as robust technical guides. Together, these structures contribute to raising the quality of climate goals and aligning investment decisions with scientific trajectories. The different protocols evolve commitments, measurement of results, and transparency, contributing to the transformation of climate promises into financially coherent results.
References
[1] https://sciencebasedtargets.org/
[2] https://www.climatechampions.net/campaigns/race-to-zero/
[3] https://files.sciencebasedtargets.org/production/files/SBTi-Business-Ambition-final-report.pdf
[4] https://semil.sp.gov.br/2023/11/as-vesperas-da-cop28-em-dubai-sao-paulo-lanca-compromisso-sp-carbono-zero/
[5] https://www.unepfi.org/net-zero-alliance/
[6] https://carbontracker.org/
[7 ] https://actinitiative.org/en/
[8] https://www.climateaction100.org/
Fabiana Philipi
