The Science Based Targets initiative was established in 2015  to help companies to set emission reduction targets in line with climate sciences and Paris Agreement goals. It is funded by IKEA Foundation, Amazon, Bezos Earth Fund, We Mean Business coalition, Rockefeller Brothers Fund and UPS Foundation. In October 2021, SBTi developed and launched the worlds first net zero standard, providing the framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C. Best practice as identified by SBTi is for companies to adopt transition plans covering scope 1, 2 and 3 emissions, set out short-term milestones, ensure effective board-level governance and link executive compensation to the companys adopted milestones.