SBTi publishes technical outputs to revise Corporate Net-Zero Standard
The Science Based Targets Initiative (SBTi) published four technical outputs as an early step in revising the SBTi Corporate Net-Zero Standard.
Earlier in May 2024, the SBTi announced timeline and published the Terms of Reference for the review of the Corporate Net-Zero Standard, ensuring that the Standard continues to align with the latest scientific thinking and best practice, and addresses challenges related to scope 3 target setting.
Scope 3 emissions account for 75% of the average company’s carbon footprint, posing the most significant challenge and the greatest opportunity for corporate decarbonization.
As a voluntary standard-setter, the SBTi said, it is leveraging the experiences of thousands of businesses that have had their targets validated by the organization.
They aim to explore new options to develop a more effective approach to addressing Scope 3 emissions and enhance the impact of their Corporate Net-Zero Standard.
The four technical outputs are:
Read more: Leaders under pressure to resign as SBTi alters carbon credit guidelines
Following this announcement, a draft of the Corporate Net-Zero Standard will be released for public consultation towards the end of Q4 2024.
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