ABOUT CORAL FUTURE
We harness the power of business to create a more sustainable world. We have more than 15 years' experience working on sustainability and carbon credits solutions.
SERVICES
To us, being a good advisor and a good solutions provider are one and the same.
INITIATIVES
To help you make informed decisions, here is an overview of how other climate initiatives are relevant to our work.
SBTi
The Science Based Targets initiative (SBTi) intends to provide tools & guidance for companies to set emission reduction targets in line with climate science. Coral Future offers expert advice in the implementation of the SBTi framework for companies.
WHAT ARE SCIENCE-BASED TARGETS?
SBTi framework provides GHG emissions reduction targets that are consistent with the level of decarbonization required according to climate science to keep global temperature increase within 1.5 to well below 2°C compared to pre-industrial temperature levels.
WHY ARE THEY IMPORTANT?
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WHO BUYS & SELLS THESE CARBON CREDITS?
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WHY ARE THEY IMPORTANT?
The IPCC (2021), Sixth Assessment Report, has confirmed that climate change is already affecting every region on Earth, its impacts increasingly visible in the form of extreme weather, worsened droughts, and heightened risk of forest fires.
Since climate science is a complex issue, we need a panel of experts to guide us with frameworks in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement pursuing efforts to limit warming to 1.5°C.
This allows corporates to tackle climate change with tangible proof for investors and consumers.
WHY DO COMPANIES COMMIT TO SBTi
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WHAT ARE SCIENCE-BASED TARGETS?
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WHY DO COMPANIES COMMIT TO SBTi
- Companies gained a competitive advantage in the market.
- SBTi pushes innovation within the value chains, thus presenting bottom-line savings.
- Companies with SBTi claim it has boosted confidence among investors and driven financial gains.
- SBTi brings increased regulatory resilience, imperative to companies in the face of climate change.
HOW DOES SBTi SET TARGET?
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WHY ARE THEY IMPORTANT?
Previous
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HOW DOES SBTi SET TARGET?
SBTi target setting can be summarised into three core steps:
1. Choosing a scenario:
What’s the global carbon budget?
2. Allocating the carbon budget:
What’s your company-specific share?
3. Comparing against your baseline:
How much does your company need to reduce?
WHY DO COMPANIES COMMIT TO SBTi
Previous
Previous
WHAT ARE SCIENCE-BASED TARGETS?
SBTi framework provides GHG emissions reduction targets that are consistent with the level of decarbonization required according to climate science to keep global temperature increase within 1.5 to well below 2°C compared to pre-industrial temperature levels.
WHY ARE THEY IMPORTANT?
The IPCC (2021), Sixth Assessment Report, has confirmed that climate change is already affecting every region on Earth, its impacts increasingly visible in the form of extreme weather, worsened droughts, and heightened risk of forest fires.
Since climate science is a complex issue, we need a panel of experts to guide us with frameworks in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement pursuing efforts to limit warming to 1.5°C.
This allows corporates to tackle climate change with tangible proof for investors and consumers.
WHY DO COMPANIES COMMIT TO SBTi
- Companies gained a competitive advantage in the market.
- SBTi pushes innovation within the value chains, thus presenting bottom-line savings.
- Companies with SBTi claim it has boosted confidence among investors and driven financial gains.
- SBTi brings increased regulatory resilience, imperative to companies in the face of climate change.
HOW DOES SBTi SET TARGET?
SBTi target setting can be summarised into three core steps:
1. Choosing a scenario:
What’s the global carbon budget?
2. Allocating the carbon budget:
What’s your company-specific share?
3. Comparing against your baseline:
How much does your company need to reduce?
HOW DO COMPANIES JOIN?/HOW CORAL FUTURE SUPPORTS YOU?
There are five steps to successfully set a science-based target and Coral Future helps in documentation, registration and disclosure procedures.
Step 1: Submit a sector-specific commitment letter to SBTi.
Step 2: Develop a target reducing scope 1, 2, and 3 emissions to a residual level consistent with 1.5°C-aligned pathways.
Step 3: Submit targets for validation
Step 4: Announce your target and inform your stakeholders
Step 5: Report and disclose company-wide emissions and progress against targets annually.
HOW DO COMPANIES JOIN?/HOW CORAL FUTURE SUPPORTS YOU?
There are five steps to successfully set a science-based target and Coral Future helps in documentation, registration and disclosure procedures.
Step 1: Submit a sector-specific commitment letter to SBTi.
Step 2: Develop a target reducing scope 1, 2, and 3 emissions to a residual level consistent with 1.5°C-aligned pathways.
Step 3: Submit targets for validation
Step 4: Announce your target and inform your stakeholders
Step 5: Report and disclose company-wide emissions and progress against targets annually.