A recent report from the Science Based Targets initiative (SBTi) has revealed that only 18% of the net-zero targets set by companies in the Asia-Pacific region have been independently verified. This highlights a significant gap in the region’s progress toward achieving climate commitments and transitioning to a more sustainable future.
The report sheds light on the fact that while many companies in the Asia-Pacific region have publicly committed to reaching net-zero emissions by 2050 or earlier, the verification of these targets remains limited. Despite the growing number of businesses declaring climate action goals, only a fraction have undergone the rigorous process of verification by the SBTi, a globally recognized body that ensures companies’ targets align with the latest climate science and the Paris Agreement.
Experts have raised concerns over the lack of verification, pointing out that unverified commitments may undermine efforts to meet global climate goals.
They argue that robust verification is essential to hold businesses accountable for their emissions reductions and ensure that the climate actions they undertake are truly effective in addressing the growing climate crisis.
The report underscores the need for increased transparency and accountability in the region’s sustainability efforts. It calls for more companies to engage with organizations like SBTi to set science-based targets and undergo the verification process, which will ultimately accelerate progress toward net-zero emissions in the region. With climate risks escalating, there is growing pressure on companies to back up their promises with real action and measurable results.
