Sustainability Goal Setting

Goal Setting Resources & Tools

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Transition Plan Template (Exponential Roadmap Initiative) — This free-to-use transition plan template (in Word Doc format) helps companies operationalize climate strategy, step-by-step. It is in line with evolving regulation (U.S. and EU) and guidance from 12 different organizations. Also included is a “Detailed mapping of elements different organizations require in a transition plan,” categorized by initiative. (Jan 2024)

Unlocking insights and changing mindsets: what it’s like to pioneer science-based targets for nature (Science Based Targets Network (SBTN)) — Discusses five insights from the pilot effort of 17 companies to implement science-based targets for nature:

1. Targets for nature have opportunities beyond risk management, such as improving reputation, competitive advantage, and catalyzing change.
2. They validate companies’ efforts and raise ambition.
3. They help measure and address risk within the supply chain and prioritize action.
4. They balance rigor with what is currently feasible for companies.
5. Skilled personnel are at the core of successful implementation.

SBTN anticipates the first validated targets in the May/June time-frame, which will be accompanied by a detailed report outlining key learnings and insights from the pilot. (Jan 2024)

Landscape Analysis: Measurement, Reporting and Verification (MRV) of Science-Based Targets (SBTi and EY) — Analyzes the current landscape of MRV of climate targets using a combination of surveys, interviews, literature review and data analysis. Three findings (Dec 2023):

• There is currently a lack of clear guidance on how to address significant changes over the course of a target period (such as a merger or divestment), which can affect accuracy and comparability for a company’s progress.
• Determining progress against targets is difficult both because of completeness and delays between action and impacts. Including additional metrics (e.g. R&D spend or capital expenditure) can function as early progress indicators.
• Getting third-party assurance, while often not required, is increasingly common. Now, more frameworks and regulations are recommending or requiring third-party assurance.

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A UN panel comprised of 17 environmental and finance experts delivered a report to the UN Secretary-General providing 10 practical recommendations “to bring integrity, transparency and accountability to net zero by establishing clear standards and criteria.” Seeking to rein in false claims by non-state actors (industry, financial institutions, cities and regions), the recommendations advocate that these entities do the following (Nov 2022):

• Make a net zero pledge with supporting targets and transition plans and disclose these annually;
• Not buy cheap carbon credits with low integrity nor reduce emissions intensity instead of reducing absolute emissions;
• Phase out use and support of fossil fuels;
• Not lobby to undermine government climate policies, directly or indirectly;
• Avoid the destruction of remaining natural ecosystems from operations and supply chain operations;
• Shift from voluntary initiatives to regulated, and less fragmented, requirements for net zero.

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Guidelines for credible, science-driven environmental footprint claims — This new guidance by environmental sustainability consultancy Quantis provides best practices and recommendations to help companies understand and comply with existing standards and regulations when making environmental claims. The guidance is designed to support companies credibly communicate about their sustainability efforts and avoid greenwashing, which “degrades consumer trust and creates unfair competition.” As the report explores, environmental claims should be specific, measurable, relevant, understandable, and accessible. (Oct 2022)

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Measuring Sustainability. Creating Value. (Accenture) — Concludes that the market is more likely to reward companies translating ESG metrics into KPIs that drive their sustainability goals. The report provides guidance for companies to rethink performance in their organization and “better measure, manage and report ESG performance” to ensure ESG data is treated as “essential business data.” (Jan 2022)

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CEF Next Gen Goals Working Group (Spring 2020) - Contact Amy O'Meara for details

“Setting the Next Generation of Sustainability Goals” (NAEM, 2019) offers insight into how companies are setting priorities, framing goals, and engaging stakeholders across the business in support of the goal-setting process. Key findings included the following:

• Customer demands (22%) was the top driver influencing sustainability goal-setting, followed by operational efficiency (17%) and business resiliency (16%).
• 68% of companies use, or are planning to use, a formal materiality assessment to identify the issues that most affect their business.
• 45% of companies stated that their goal-setting process takes a year or less.
• 79% of companies engage external stakeholders as part of their strategic planning process (or are planning to do so).
• 83% of companies have the Board of Directors review their sustainability metrics (or are planning to do so).

“Targeting Value” (SustainAbility, Dec 2017) details the current landscape of corporate sustainability goals, with a focus on the evolving and varied nature of goals, the growing focus on impact, variable timeframes, and more. The report also identifies key barriers to setting high-impact goals, and highlights current best practices for designing high-impact goals that deliver strong business value and societal impact. Webinar deck