Updated version

Within the Peer Learning Group Climate of the German Global Compact Network (DGCN), companies explored the challenges associated with developing climate targets, and discussed possible solutions, methods and applications with experts and representatives from the Science Based Targets Initiative (SBTi). This publication summarizes core findings of the discussion and proposes solutions to challenges. The focus is on the selection of a method for developing a science-based GHG emission reduction path, the interpretation of results, the criteria of the SBTi for an official approval of science-based targets, and the treatment of scope 3 emissions. Thereby, the paper serves as a compact introduction science-based target setting.