Setting a science-based net-zero target involves a company committing to reduce its greenhouse gas emissions to net-zero by a specific year. The process begins with the company understanding its emissions and setting a base year for comparison. So yes, you need to set a baseline to set a credible target.

The company can then use this data to define a clear pathway for reducing emissions to net-zero, in line with what the latest climate science says is necessary to prevent the worst impacts of climate change.

This involves reducing emissions in absolute terms, and balancing any remaining emissions with an equivalent amount of carbon removal (so no, carbon offsets won’t count toward reducing emissions).

The company must then submit its target to the Science Based Targets initiative (SBTi) for validation, to ensure it is in line with the goals of the Paris Agreement.

Once the target is validated, the company must regularly report on its progress and adjust its strategies as necessary.

SBTi provides a step by step process on its website here.