Today, on Zero Emissions Day, SIX has committed to achieving the target of net zero CO2 emissions by 2050 at the latest. To underline this commitment, SIX has joined the Science-Based Target Initiative (SBTi).
SBTi is globally recognized when it comes to ESG. The organization is part of global efforts to achieve the goals of the Paris Climate Agreement. The Paris Climate Agreement was signed in 2015 by the majority of UN member states. It aims to ensure that global warming be limited to below 2 °C by 2050. The SBTi targets and objectives are used as a benchmark by many other climate initiatives.
Jos Dijsselhof, CEO SIX: “This is a big step for our company and an integral part of our ESG strategy. Operating financial market infrastructures at the interface of capital and business puts SIX in a unique position to drive forward the attainment of climate targets right across the industry. To credibly advocate and leverage this position effectively, SIX must lead the way and put sustainability into practice.”
The Science-Based Target Initiative is a global organization with the aim of helping companies to set emissions reduction targets. It provides requirements and frameworks to create clarity around how such targets are to be set to ensure that targets are in line with the latest scientific findings. Companies (and other entities) can have their emissions reduction targets verified by the SBTi. This guarantees that the targets are in keeping with the Paris Agreement or, in other words, capable of limiting the global temperature increase to less than 2 °C above pre-industrial levels. A company can also commit to upholding the SBTi’s Net Zero Standard, as SIX has done. The SBTi was born of a partnership between the Carbon Declaration Project (CDP), the UN Global Compact, the World Resources Institute, and the WWF.