Here's the Timeline for Sbtis Corporate Net Zero Update
The standards-setting organization plans to address stakeholder feedback, including updates to climate science and
Greenbiz 9:23 pm on May 10, 2024
The Science Based Targets Initiative (SBTI) will revise its Corporate Net-Zero Standards in 2025, incorporating climate science updates, improved guidance for Scope 3 targets and carbon offset usage. The revision stems from industry feedback addressing target validation times, direct Scope 1 and Scope 3 challenges, as well as the controversy over accounting for environmental certificates in net-zero goals.
- Timeline: The revision of SBTI's Corporate Net-Zero Standards will take effect in 2025.
- Key Goals:
- Align with the latest climate science and best practices (e.g., IPCC Sixth Assessment report)
- Provide new guidance on Scope 3 target setting
- Clarify how other standards feed into Corporate Net-Zero Standards
- Evaluate and address feedback from stakeholders, including companies with validated targets
- Stakeholder Engagement: SBTI is soliciting comments on proposed revisions throughout the process.
- Industry Reactions:
- Some companies have opted out due to criticisms and are no longer using SBTi's standards.
https://www.greenbiz.com/article/heres-timeline-sbtis-corporate-net-zero-update