Get started setting ambitious, science-based emissions targets

The Climate Ambition Accelerator is a six-month programme for companies participating in the United Nations Global
Compact who are looking to make progress towards setting science-based emissions reduction targets and create a clear path to address their organization’s transition to net-zero.

Led by the United Nations Global Compact, the Climate Ambition Accelerator aims to scale-up credible climate action across companies of all sizes, sectors and regions, enabling them to set and deliver on meaningful commitments to reduce
emissions at scale.

No matter where companies are in their sustainability journey, the Climate Ambition Accelerator will equip them with the
knowledge and skills they need to accelerate progress towards setting science-based emissions targets aligned with the 1.5°C pathway. Through the Global Compact Local Networks around the world, participating companies will gain access to global best practices, peer-to-peer learning opportunities, practical activities, capacity building sessions and on-demand training.

The Science Based Targets initiative (SBTi) drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets. The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi call to action is one of the We Mean Business Coalition commitments. Find out more about the SBTi here.

Science-based targets show companies how much and how quickly businesses need to reduce their GHG emissions to prevent the worst impacts of climate change – leading them on a clear path towards decarbonization. Targets are considered ‘science-based’ if they are in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement. In 2021, the SBTi announced to make 1.5°C the central ambition in the target setting framework. Since June 2022, targets with lower ambition are no longer validated by the initiative.

The SBTi defines and promotes best practice in emissions reductions and net-zero targets in line with climate science, provides technical assistance and expert resources to companies who set science-based targets in line with the latest climate science and brings together a team of experts to provide companies with independent assessment and validation of targets.

The private sector’s uptake of science-based targets sends a clear signal that the transition to a low-carbon economy is underway. However, only a few companies in emerging markets have set science-based targets. It is a priority for the SBTi to close this geographical gap in the adoption of SBTs, by addressing barriers and exploiting opportunities, and supporting the local SBTi partner organisations to collaborate at the national and regional level.

The Climate Ambition Accelerator aims to amplify at the country level the global work of the UN Global Compact, engaging all companies in climate action to achieve the goals of the Paris Agreement through robust mitigation and adaptation measures and responsible policy engagement –for a just transition to a net zero future.

The Climate Ambition Accelerator builds on the UN Global Compact’s work to develop and promote the Science Based Targets initiative and its new net-zero standard, which in turn contribute to the Race to Net Zero campaign in the lead up to COP28. Additionally, it also complements other UN Global Compact environmental sustainability efforts such as the Sustainable Ocean Business Action Platform and the Water Resilience Coalition.

The six-month accelerator will start in May 2024 and will run until November 2024, with the on-demand sessions being available online during that period. Global Compact Local Network will provide a detailed schedule of activities for companies participating in the “In-Country” track.

Over the course of the accelerator programme, companies will participate in on-demand self-learning sessions, online workshops and peer-learning opportunities, and global sessions featuring global case studies on climate action. On average, participants may expect around seven hours of self-learning on-demand content and six hours of facilitated group sessions. Participants will also be invited to attend global events. In total, participants should plan to dedicate 25 to 30 hours to the Climate Ambition Accelerator over six months.

Companies are constantly being asked by investors and clients to reduce emissions and set ambitious targets, but there is still a knowledge gap regarding what to do and how to do it.

The Climate Ambition Accelerator will equip companies with the knowledge and skills they need to set science-based targets aligned with the 1.5°C pathway, setting them on a path towards net-zero emissions by 2050. No matter where companies are in their sustainability journey, the Climate Ambition Accelerator will help them get started and make progress towards setting ambitious emission targets. Fulfillment of science-based targets will set you up to join the Forward Faster initiative.

The programme structure includes:

1. SETTING THE SCENE
Introduction to the programme, the cohort of participants and to the platform and tools used.

2. GHG INVENTORY
Take a deep dive into GHG best practices, emissions accounting methodologies and strategies, take steps to implement or improve a comprehensive GHG emissions inventory.

3. SETTING A SBT
Work with the SBTi tools and resources, get a clear understanding of their approach and methodologies and identify key stakeholders and resources within the organization.

4. EMISSIONS MANAGEMENT
Identify the key GHG management strategies to reduce emissions and meet the goals of your climate ambition journey.

5. WRAP-UP (PITCH)
Compile the findings from your Accelerator journey, share learned lessons and identify next steps.

Through the Global Compact Local Networks around the world, participating companies will gain access to global best practices, peer-to-peer learning opportunities, capacity building sessions and on-demand training.

Participants will learn:

• The methodology and approach of science-based targets (SBT) setting
• The foundational knowledge you need to set a solid strategy towards ambitious science-based targets
• How to drive climate change ambition internally and build internal buy-in and engagement for ambitious climate action at the management and board level
• How to manage your global emissions and the different emission reduction strategies and initiatives that they can implement to meet ambitious targets
• How to reduce scope 1 and 2 emissions and engage your value chain to reduce indirect emissions, scope 3.

Participant benefits include:

• Build your climate ambition and greenhouse gas (GHG) management strategy
• Gain a clear understanding of GHG emissions, the Science-Based Targets Initiative (SBTi) and the
  net-zero concept
• Learn how to motivate investors, corporate leadership, employees and shareholders to set and meet Science Based Targets
• Hear from peers and share insights in group sessions
• Take advantage of on-demand learning sessions that enables you to work at your own pace
• Get access to industry experts and networking opportunities
• Benefit from local delivery combined with global insights and best practices
• Fulfillment of science-based targets will set you up to join the Forward Faster initiative

The UN Global Compact invites companies everywhere to join the Climate Ambition Accelerator. To take part, companies are required to be a participating company (Participant and Signatory level) of the UN Global Compact and to meet the following criteria:

• Currently engaged with a Global Compact Local Network in your region or willing to join
• Interested in setting ambitious emissions reduction targets aligned with climate science at the pace and scale required to meet the goals of the Paris Agreement.
• Willing to appoint two representatives to participate in the programme activities and events and an executive-level representative to follow programme developments, provide support and participate in high-level events.

All participating companies are asked to nominate two representatives (one primary and one alternate representative) to actively participate in the programme on behalf of the company. This includes attending Climate Ambition Accelerator workshops, completing online sessions and coordinating with colleagues across the organisation to advance climate action. Only one representative is expected to join the sessions.

Ideally, the representative will be responsible for accounting, management and/or reporting (i.e. from Sustainability or Environmental departments).

In addition to the representatives mentioned before, all participating companies are expected to nominate an executive-level contact to follow Climate Ambition Accelerator developments, provide support to the company representatives as needed, and represent the company at high-level events that are part of or related to Climate Ambition. The executive-level representative should have a direct line of communication to the CEO (e.g. Member of the C-Suite or Board). The company’s CEO may also decide to take on the role of Climate Ambition executive-level representative.

The Climate Ambition Accelerator programme offers a unique opportunity for organisations to accelerate their climate ambitions.

The programme is open to corporate participants, small to medium enterprises (SMEs), and non-business participants. The fees for the programme are $1,595 for corporate participants and $750 for SMEs.

The programme has a capacity of up to 25 participating organisations, so act fast to secure your spot and join other organisations in taking action towards a more sustainable future.

For the list of Global Compact Local Networks offering the in-country track of the programme in 2024, please visit the Climate Ambition Accelerator website.

Participating companies that already have emissions reduction targets are welcome to join the initiative in order to further develop their current commitments and increase their climate ambition.

The Accelerator will equip companies with the knowledge required to advance in terms of climate ambition and set science-based emissions reduction targets aligned with the 1.5°C scenario of the Paris Agreement, aiming for net-zero emissions by 2050 at the latest.

The Climate Ambition Accelerator welcomes participants from different sizes, from multinational companies to SMEs.

The private sector as whole has a key role to play in sending strong market signals and scaling innovative solutions to present concrete, realistic plans towards a zero-carbon economy while advocating for a green recovery.

The Accelerator is also designed for companies that are starting their journey towards ambitious science-based emissions reduction and will support companies to build a strong foundation covering the greenhouse gas accounting concepts to enable them to move towards emissions management and ambitious climate action.

Complete the registration form to sign up to participate in the accelerator by Tuesday 30 of April.