How the SBTi Plans to Revise Its Standards with Stakeholders

Since its inception in 2015, the Science-Based Targets initiative (SBTi) has been the gold standard in emission reduction targets. 

It was created to complement the Paris Agreement and the Sustainable Development Goals (SDGs), acting as a way of measuring the progress companies were making against these frameworks.

Nowadays, the vast majority of companies vie to have their sustainability targets ratified by the SBTi because being acknowledged by the initiative acts like a seal of approval.

Now, though, the team at SBTi has announced its intention to revise its Corporate Net Zero Standard. What's more, the initiative wants the input of stakeholders in shaping how this revised standard will look.

In essence, this is to ensure that any amendments are made transparently and with consultation for those that will be most affected, whilst also maintaining the ambition of radical decarbonisation.

Who will the SBTi consult on the revisions to its standards?

So, to see this through, the SBTi is introducing a series of new Expert Working Groups with the aim of facilitating deeper consultation on key aspects of the revised Standard. 

These groups will bring together experts from business, civil society and academia to focus on critical areas, including Scope 2 and Scope 3 emissions, carbon removal and reduction strategies, data quality and ongoing emissions beyond value chain mitigation.

Stakeholders will also have the opportunity to participate in two rounds of public consultation, with the first draft expected no earlier than March 2025. 

The initiative builds on previous engagement efforts, including discussions with the Technical Advisory Group and industry stakeholders, as well as feedback on the Scope 3 Discussion Paper.

"Reaching net zero is never going to be straightforward. But the guidance to get businesses there should be,” says Tracy Wyman, Chief Impact Officer at SBTi.

“The additional consultations announced today will support the development of a revised Corporate Net Zero Standard that works for businesses and accelerates climate action."

What does the SBTi want to revise?

The revision process will focus on several major areas of concern for businesses striving to achieve net zero emissions. 

One of the most significant changes involves a new categorisation system that will tailor requirements based on company size and geography, making the Standard more accessible.

Another priority is improving the clarity of Scope 3 emissions requirements. As a major component of corporate decarbonisation efforts, value chain emissions present significant challenges. 

The SBTi is considering a broader set of metrics, methods and tools that companies can use to set and track Scope 3 targets more effectively.

The revision will also refine guidance on addressing residual emissions through interim removal targets. 

This is part of a wider effort to ensure businesses have clear and credible pathways to neutralisation while maintaining scientific rigour.

Transparency and accountability

In addition to refining the technical aspects of the Standard, the SBTi is enhancing transparency and accountability measures. 

The updated Standard will provide businesses with clearer guidance on how to credibly report progress against their net zero commitments and align their targets with external regulatory requirements.

This approach underscores the SBTi’s commitment to maintaining the Standard as the most credible and robust framework for corporate net zero target setting. 

Until the revision is finalised, the current version remains the recommended benchmark for businesses looking to set science-based targets.

"When we launched our first Corporate Net Zero Standard in 2021, there was no consistent definition of net zero in corporate climate target-setting,” says Alberto Carillo Pineda, Chief Technical Officer at SBTi.

“We have come a long way since then - today more than 1500 businesses have net zero aligned targets.

"The feedback we have gathered since the release of the first version of the Standard has been invaluable in helping us identify opportunities to strengthen it and make it more practical and effective in driving science-based climate action."

What comes next?

The SBTi has opened applications for experts to join the newly established working groups, with a deadline of 28 February 2025. 

Once the first draft of the revised Standard is released, a 60-day consultation period will follow, after which feedback will be incorporated into a refined version for further testing and a second round of consultation.

Businesses without near-term or net zero targets are encouraged to proceed with their commitments under the existing Standard. 

The SBTi has confirmed that once the revised version is finalised, mechanisms will be in place to ensure continuity for those who have already set targets.

As the Corporate Net Zero Standard evolves, the SBTi is positioning itself at the forefront of best practice in corporate decarbonisation. 

The emphasis on broad stakeholder engagement reflects the need for a Standard that is both ambitious and practical, helping businesses navigate the complexities of the net zero transition while remaining aligned with scientific and regulatory expectations.

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