Developing the Corporate Net-Zero Standard
In 2019, the SBTi initiated an inclusive, stakeholder-informed process to develop a framework to enable companies to set robust and credible net-zero targets in line with a 1.5°C future.
The Corporate Net-Zero Standard was developed through a balanced, transparent and inclusive stakeholder process. The SBTi proactively engaged with interested individuals and organizations, providing a range of updates and ways to input into the process. This included:
- Consultation with the SBTi’s Scientific and Technical Advisory Groups, and a dedicated Net Zero Expert Advisory Group
- Two public consultations reaching over 500 stakeholders
- A road-test and pilot involving over 80 companies
- Ad-hoc information and consultation sessions including webinars and workshops
- Regular updates on the SBTi website
- A net-zero newsletter
The SBTi is further developing and refining the Corporate Net-Zero Standard through research into value chain decarbonization, measurement and reporting, and neutralization.
The SBTi recognizes the urgent need to scale up finance in the near-term to support the global transformation to net-zero. To support this, we will soon be releasing a report into Beyond Value Chain Mitigation (BVCM).
Expert advisory group
The Expert Advisory Groups made up of a range of representatives from science, business, academia and civil society:
Net-Zero Road Test
More than 80 companies road-tested the target validation criteria and guidance for the SBTi’s Net-Zero Standard over six-weeks in 2021. This helped us ensure the net-zero criteria, guidance and target setting tools were robust, clear and practical. It also helped identify challenges for adoption and implementation of the Standard across industries.
The road test focused on criteria and methods for setting near- and long-term science-based targets which aim to reduce value-chain emissions in line with the science.
Companies that either already had SBTi-validated science-based targets aligned to 1.5°C or had committed to the SBTi's Business Ambition for 1.5°C campaign were invited to take part in the road testl. From the companies that applied, the SBTi selected companies aiming for diversity in region, sector and emissions profile.
Two public consultations were held.
The first public consultation on the draft SBTi Corporate Net-Zero Criteria was conducted between January and March 2021. Over 400 respondents contributed their views, helping to further refine the Net-Zero Criteria.
The Net-Zero Pre-Launch Public Consultation was open for comment from 20 September until 6 October 2021. More than 150 participants helped to refine our resources before the launch Net-Zero Standard on 28 October 2021. The consultation aimed to:
Collect input from external stakeholders on the clarity of the Net-Zero Standard materials
Understand and build support for the SBTi’s future direction
Identify areas of improvement