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With increasing pressure for climate action, commitments to setting scientifically supported emissions targets have become more common among firms. The target‐setting methods currently endorsed by the Science Based Targets Initiative (SBTi) use emission pathways that are aligned with 1.5°C and well‐below 2°C long‐term temperature goals to inform near‐term corporate targets. However, most of these scenarios lead to a temperature overshoot, followed by a return to the temperature goal achieved via net‐negative emissions in the second half of this century. When used to inform near‐term (e.g., 2030) corporate targets, the result is a set of targets that are aligned with an overshoot of a temperature target, with no explicit long‐term commitment to using negative emissions technologies to reverse this. To decrease the risk of this misalignment with the long‐term temperature goal, we propose an alternative …