Developing the Net-Zero Standard
The SBTi led an ongoing robust, transparent process to develop and refine the Corporate Net-Zero Standard - working with independent experts to ensure companies can get net-zero right.
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.
Development process
The 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 includes:
- 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 initiated a scoping phase of work in 2019 to develop a framework to enable companies to set robust and credible net-zero targets in line with a 1.5°C future. The standard development process formally began after publication of the Foundations for net-zero target setting in the corporate sector paper in September 2020. At this point, the SBTi convened a dedicated Net-Zero Expert Advisory Group (EAG), which was to be the main consensus building body for the project.
The SBTi then began developing detailed criteria and guidance in regular consultation with the EAG, as well as the SBTi’s Scientific and Technical Advisory Groups. The SBTi requested feedback from stakeholders to improve the standard through two public consultations and a company road test. The standard was launched on 28 October 2021 in advance of COP26.
Future development
The SBTi is currently conducting research to further develop the net-zero framework and refine the Net-Zero Standard. This includes research on the “beyond value chain mitigation” and “neutralization” elements of net-zero targets.
The SBTi recognizes there is an urgent need to scale up finance in the near-term to support the global transition towards net-zero. To support this, we are currently conducting research to inform our approach to activities that aim to accelerate climate action beyond a company’s value chain. This work, which is being undertaken in collaboration with the advisory firm SYSTEMIQ, will explore the models and incentives that enable these investments. Please see the Beyond Value Chain Mitigation FAQ for more information.
Expert advisory group
The Expert Advisory Group involves a range of representatives from science, business, academia and civil society:
Net-Zero Road Test
Between 15 July 2021 and 31 August 2021, over 80 companies road-tested the target validation criteria and guidance for the SBTi’s Net-Zero Standard. 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-term and long-term science-based targets which aim to reduce value-chain emissions in line with the science.
Companies were invited to take part in the road test in May 2021. Companies that either already had science-based targets aligned to 1.5°C validated by the SBTi or had committed to the SBTi's Business Ambition for 1.5°C campaign were invited via email. From the group of companies that applied, the SBTi then selected companies aiming for diversity in region, sector and emissions profile. The SBTi invited all road test companies to take part in the pilot validation, but were only able to validate seven companies on a first-come, first-served basis due to resource constraints. Thus, participation in the pilot validation is not a reflection on the performance of any other company in the road test.
Public consultation
Two public consultations were held.
The first public consultation on the draft SBTi 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
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