SBTi 2023 Report Covers 4,205 Companies Across 70 Countries

The SBTi's 2023 Monitoring Report draws on data extracted from its target dashboard as of 31 December 2023, covering 4,205 companies and financial institutions with validated science-based targets. Market capitalisation coverage was calculated using LSEG Datastream data for 2,014 listed companies from the 2023 dashboard.

The report's primary data source is the SBTi target dashboard, with snapshots taken at end-2023 and end-2022 for year-on-year comparison. Market capitalisation data was retrieved via LSEG Datastream by Oliver Wyman, covering 2,014 publicly listed companies from the 2023 dashboard and 1,634 from the 2022 dashboard. Industry classification follows CDP's Activity Classification System, while global market cap benchmarks are sourced from public G7 equity index compositions as of December 2023.

Methodological consistency across reporting years is maintained through annual snapshots of the SBTi's legacy target dashboard, with data going back to 2015. Companies that have both committed and set a target are counted only as target-setters, not as commitment-holders. Removed companies are included in the years their targets were active, ensuring historical growth figures reflect actual participation rather than only current active targets.

The report notes that figures for 2023 and 2022 include both first-time target setters and companies that updated prior targets. All commitment data excludes removed commitments. As mandatory disclosure regimes in India and globally adopt science-based target frameworks as benchmarks, the robustness and reproducibility of underlying methodology becomes increasingly important for corporate compliance teams and external assurance providers.

Key figure — 4,205 companies and financial institutions with validated SBTi targets by end-2023