New SBTi Draft Delays Mandatory Rollout Until 2028 While Raising Ambition
The Science Based Targets initiative (SBTi), a global authority on corporate climate targets, released a new 97-page draft of its Corporate Net-Zero Standard V2.0 on November 6. The document introduces more flexibility in setting targets but imposes stricter rules on managing ongoing emissions.
The updated requirements will not become mandatory before 2028, while the final version is expected in 2026. Companies and stakeholders can submit feedback on the current draft until December 8.
Main Updates
- Introduction of two new recognition levels: “Recognized” and “Leadership,” aimed at firms actively addressing ongoing emissions.
- Clearer frameworks for managing Scope 1, Scope 2, and Scope 3 emissions.
- “Leadership” status requires a carbon price of at least $80 per metric ton of CO2e applied to all ongoing emissions, with at least 40% of revenues allocated to mitigation activities.
Scope 3 Clarifications
The second draft also clarifies how companies can reduce Scope 3 emissions. Two main approaches are proposed:
- Setting an emissions intensity metric for key commodities.
- Committing to source at least 95% of inputs from suppliers aligned with net-zero targets by 2050.
“The overhaul comes amid criticism that many corporate net-zero commitments lack substance, relying on offsets or vague plans.”
Related Context
This revision follows a surge in science-based climate target adoption worldwide, particularly across Asia and key industrial sectors.
Author’s summary: The 2028 delay gives companies time to adapt, but the SBTi’s new draft raises standards for credible and measurable corporate climate action.
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