Corporate Net-Zero Standard V2 Second Public Consultation
Explore the second draft of the Corporate Net-Zero Standard V2 with our digital consultation guide.
Explore the draft standard
- 01 Getting started
- 02 Take part in the public consultation
- 03 Key elements at a glance
- 04 Key resources
- 05 Draft Standard Chapter 1: Net-Zero Ambition
- 06 Draft Standard Chapter 2: Base Year Assessment
- 07 Draft Standard Chapter 3: Target Setting
- 08 Draft Standard Chapter 4: Taking Responsibility for Ongoing Emissions
- 09 Draft Standard Chapter 5: Assessing Performance and Renewing Targets
- 10 Draft Standard Chapter 6: SBTi Claims
- 11 Frequently asked questions
Draft Standard Chapter 2: Base Year Assessment
Background
By tracking a comprehensive set of metrics, including leading indicators that capture the transition of key activities and lagging indicators like absolute greenhouse gas emissions, companies can effectively manage their decarbonization progress. By monitoring these metrics companies can focus near-term actions where they will have the greatest impact, while using absolute emissions to confirm long-term progress over time.
Companies set clear organizational boundaries and select a base year that reflects their typical operations.
View the consultation draft criteria and recommendations below, or download the full consultation draft. You may then respond to the consultation survey
Draft criteria and recommendations
2.1 Organizational boundary and base year (CNZS-C3 and C4)
Based on feedback from the first public consultation, the updated draft Standard proposes allowing companies to establish their organization boundary based on either the GHG Protocol Corporate Standard or aligned with their financial statements. It also requires companies setting new targets to use the most recent year with comprehensive data for target setting, with the option to use a different base year if it does not accurately reflect the companies’ structure and performance.
The updated criteria and recommendations provide companies with a practical approach to the foundational elements of target setting while maintaining credibility and transparency in net-zero targets. It enables companies to develop a clear understanding of their current performance, which is essential to identify gaps to net-zero and effectively set targets to close them.
2.2 Determining performance in the target base year (CNZS-C5 through C8)
Once companies select a base year, the updated draft Standard requires them to determine which metrics are most relevant, calculate their emissions inventory according to the GHG Protocol, and obtain third-party assurance of their findings (Category A companies only). It also requires that companies publish their base year and target information in a readily accessible location.