PwC Report on the BITCI Low Carbon Pledge

50%

of signatories have fully set science-based targets.
81%

are well progressed to set science-based targets by 2024.
51%

integrated the Climate Action Plan into their sustainability strategy.
85%

publicly report non-financial data, above the 78% obligated to do so.

PwC’s fifth annual report on the BITCI Low Carbon Pledge outlines the progress made by signatory companies in setting and adhering to science-based targets (SBTs).

This year, the report shows steady progress in BITCI’s stated ambition of companies setting science-based emission reduction targets no later than 2024. For example, 50% of signatories have fully set SBTs and had them approved by the Science Based Targets initiative, with a further 31% formally committed to setting SBTs. This means that 81% of the signatories are well progressed to set SBTs by 2024 (up 11% from last year).

Although the signs are positive, there is also an urgency for some to be more proactive in setting targets and reducing emissions—particularly around scope 3 emissions. A greater focus on protecting nature is also needed.

The business community must therefore take the lead. This report highlights key actions and best practices that can help companies drive their emission-reduction efforts and become genuinely sustainable businesses.