Science Based Targets Initiative Informational Session Recap
August 1, 2024
NMPF, the Innovation Center for U.S. Dairy and the International Dairy Foods Association jointly hosted July 11 a meeting with individuals from the Science Based Targets initiative, SBTi, to discuss questions that U.S. dairy has in interpreting and implementing SBTi standards.
Diana Farmer, North American Regional Lead, and Kyra Power, North America Engagement Manager, joined from SBTi, addressing topics such as:
- SBTi governance and opportunities for stakeholder participation;
- SBTi FLAG standards (https://sciencebasedtargets.org/sectors/forest-land-and-agriculture);
- SBTi consideration of market instruments (e.g. carbon credits, and others)
- SBTi target setting and validation process; and
- SBTi develops standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below 1.5 degrees C and reach net-zero by 2050. Companies may use FARM Environmental Stewardship aggregate data in assessing progress toward their SBTi targets.
The FARM Program aims to stay informed of the corporate GHG accounting standards, like SBTi, to ensure FARM Environmental Stewardship remains useful and relevant for aggregating GHG data.
