Global Carbon Neutrality Certification Made Easier for Korean Companies

The Science Based Targets initiative (SBTi) is simplifying the process for businesses to achieve global carbon neutrality certification, lowering the threshold for South Korean companies to meet international standards. David Kennedy, CEO of SBTi, stated that having SBTi targets is now essential for South Korean firms supplying major retailers like Walmart and Nike in the U.S., and for automakers like Hyundai and Kia to receive electric vehicle subsidies in the UK.

SBTi, a collaboration between the WWF and the UN Global Compact, helps companies set and verify greenhouse gas reduction targets aligned with the Paris Agreement. Kennedy described the SBTi framework as a "passport" for companies conducting commercial activities. He visited South Korea to explain the updated "Corporate Net-Zero Standard 2.0" to businesses.

This initiative allows companies to use their internally developed greenhouse gas reduction goals and implementation plans as a form of certification after verification by SBTi. The simplified process aims to encourage more companies to commit to and achieve ambitious climate goals, thereby facilitating their access to global markets and compliance with international environmental regulations.