Your expertise is needed: The SBTi's financial institutions net-zero work
30th Sep 2024
The SBTi has extended public consultation for the draft Financial Institutions Net-Zero Standard to October 11th, 2024. This blog outlines everything you need to get involved and share your feedback.
Reaching global climate goals depends on financial institutions (FIs) aligning their operations and financial activities with a pathway to net-zero by 2050. That’s why the Science Based Targets initiative (SBTi) is developing its flagship Financial Institutions Net-Zero (FINZ) Standard – to enable banks, re/insurers, investors, asset managers and other FIs to take ambitious climate action.
Now we need your expertise to inform the development of the final FINZ Standard. We’re calling on representatives of the finance sector, academia, civil society and other experts on this topic to read the draft, review the supporting materials below and submit your feedback. Here’s everything you need to get involved.
The FINZ Draft
In July, we published the public consultation draft of the FINZ Standard. It contains the latest thinking on net-zero targets for FIs, including criteria and recommendations for:
- Evidencing entity-level commitments and leadership
- Determining and identifying exposure and portfolio emissions
- Portfolio climate alignment target
- Emissions-intensive sector targets
- Reporting
Your feedback on these topics will help us finalize a FINZ Standard that is robust, ambitious and achievable.
The consultation survey
Once you’ve read through the consultation draft, share your feedback through our survey form, which has been extended until Friday, October 11th.
You don’t need to fill out the entire survey before submitting it – even comments on just a few sections or topics will be valuable to our team.
Our walkthrough webinar
On August 22nd we hosted a webinar walking through the contents of the draft FINZ Standard, explaining the development process to date and answering questions from stakeholders. You can review the presentation slides here and watch a recording of the event below.
What happens next?
Once you have submitted your feedback, our technical experts will review it and consider all feedback. The final FINZ Standard V1 is expected to be published in 2025.
If you have questions about the public consultation, reach out to our team at fi_consultations@sciencebasedtargets.org.
Stay up to date on the latest finance sector updates from the SBTi by signing up to our newsletter and following the SBTi on LinkedIn and X.
