The SBTi has four key goals for the review of the Corporate Net-Zero Standard:
- To align with the latest scientific thinking and best practice, such as from the IPCC and the UN Secretary General’s High Level Expert Group on the net zero emissions commitments of non-state entities (HLEG)
- To address challenges related to scope 3 target setting and implementation,
- To integrate continuous improvement and target delivery
- To improve structure and enhance interoperability with other SBTi standards as well as other relevant external frameworks and standards.
SBTi said the announcement is in line with the regular review cycle, as outlined in the standard operating procedures (SOP), which must happen every two to five years.
As part of the revision of the standard, the SBTi is also conducting an assessment of the effectiveness of Environmental Attribute Certificates (EACs) in corporate climate targets. An open call for evidence on this topic took place in 2023, and the results of this assessment will feed into the Corporate Net-Zero Standard revision, in line with the SOP.
The expectation is a draft standard will be released for public consultation in Q4 2024 after which feedback will be made public and reviewed to inform the development of the standard.
