Explained: Minor Revisions to the SBTi Corporate Net-Zero Standard, Corporate Near-Term Criteria and related resources

13th Mar 2024

The Science Based Targets initiative (SBTi) is today releasing a series of minor updates across multiple target-setting resources to improve usability and clarity. Martina Massei, SBTi Net-Zero Manager, provides an overview of the changes.

The SBTi is today releasing a suite of minor revisions to its target-setting resources to give more companies the confidence to set ambitious climate targets. The changes include editorial and administrative updates and clarifications to reflect the latest technical and operational developments.

The updates are non-substantive revisions that would not significantly impact the manner in which entities conform with SBTi criteria. As such, the documents will be effective immediately (March 13, 2024). The table below lists each of the updated resources and provides a summary of the changes made.

Resource

Overview of minor revisions

Corporate Net-Zero Standard V1.2

  • Updated from V1.1 to V1.2.

  • Glossary section moved to the new SBTi Glossary

  • Revisions to reflect the updated SME definition.

  • Revisions to reflect the release of the BVCM reports.

  • Revisions to reflect the release of the new validation resources.

  • Clarification of existing criteria and recommendations aligned with current validation practices.

  • Addition of content previously contained within the Corporate Manual (this resource is now retired - see below).

  • Addition of some content previously contained within the Target Validation Protocol (this resource is now retired - see new validation resources).

  • Clarification of sector-specific requirements to increase visibility and accuracy.

Corporate Near-Term Criteria

  • Updated from V5.1 to V5.2.

  • Revisions to reflect the updated SME definition.

  • Revisions to reflect the release of the new validation resources.

  • Clarification of existing criteria and recommendations aligned with current validation practices.

  • Clarification of sector-specific requirements to increase visibility and accuracy.

Corporate Net-Zero Tool

  • Changed title to “Corporate Net-Zero Tool” (formerly called the Net-Zero Tool).

  • Base year eligibility extended to 2023.

  • User guide added to the Net-Zero Tool tab.

  • Updated the Disclaimer and Terms of Use sections.

  • Included a new sector applicability table in the “Read Me” section.

  • Minor unit corrections throughout.

  • Included references to new and updated SBTi resources. throughout.

Corporate Near-Term Tool

  • Changed title to “Corporate Near-Term Tool” (formerly called the Target Setting Tool).

  • Updated the Disclaimer and Terms of Use sections.

  • User guides added to multiple sections of the tool.

  • Included references to new and updated SBTi resources throughout.

  • Minor technical corrections to rounded figures throughout.

Corporate Manual (retired resource)

The SBTi has also released a Main Changes Document that includes a detailed overview of the changes to the resources listed above. The document includes a description of the revisions, an explanation for why the change was made and the specific location of the update, where relevant.

In February, the SBTi also published a glossary to improve accessibility and consistency, and increase understanding of terms used within SBTi technical resources. The glossary is available on the SBTi’s website as a PDF and searchable list.

To keep up to date with future SBTi developments, register for the monthly newsletter, and follow us on LinkedIn and X (formerly Twitter).


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