POWER SECTOR

The SBTi's wholly-owned subsidiary, SBTi Services, checks and validates the science-based targets of corporates, financial institutions, and small and medium-sized enterprises (SMEs).

By validating your targets with SBTi Services you will:

• Demonstrate that your climate goals are robust and credible to investors and customers.
• Ensure your targets for reducing emissions are aligned with the latest climate science.
• Gain reassurance that your goals will remain relevant in the near- and long-term through re-validation by SBTi Services following mandatory target recalculation.

So what are you waiting for? Visit the SBTi Services website to get started today!

This project is being developed by the SBTi with support of Mott MacDonald, as technical partner. Stakeholder involvement is possible via the following groups:

Expert Advisory Group (EAG): Composed of technical experts from corporates, finance, academia, research, government, non-profit and multilateral organizations, interested in setting science-based targets and contributing to the project execution. The SBTi Power Sector Standard EAG consists of the following individuals:

• Luisa Barros - WayCarbon

• Rémi Bussac - EDF group

• Cristian Carraretto - European Bank for Reconstruction and Development (EBRD)

• Simone Cenci - University College London

• Steven Clarke - Ceres

• Clare Connolly - Eversource Energy

• Duncan Downes - Pictet Asset Management

• Ihab Elmassry - The International Finance Corporation (IFC)

• Omonigho Erigha - Persistent Energy Capital

• Patrick Falwell - Green Strategies

• Lígia Fernandes - EDP, S.A.

• Adiéliton Freitas - CEMIG (Companhia Energética de Minas Gerais)

• Dan Gardiner - IIGCC

• Svend Hansen - Ørsted

• Letitia Jentel - South African Institute of International Affairs (SAIIA)

• Lena Kovaleva - CDP

• Kit Fong Law - CLP Holdings

• Celine Le Goazigo - World Business Council for Sustainable Development (WBCSD)

• Sabrina Meddahi - GreenYellow

• Colin Meehan - WWF US

• Raul Miranda - IRENA

• Monica Oviedo - Iberdrola

• Amaro Pereira - Federal University of Rio de Janeiro

• Brendan Pierpont - Energy Innovation, LLC

• Tomas Qvickström - Fortum (Nordic and Poland)

• Jonathan Rea - RMI

• Pierre-Alain Sebrecht - Reclaim Finance

• Laurent Segalen - Megawatt-X

• Alex Sutton - SSE plc

• Kae Takase - Renewable Energy Institute

• Balasubramanian Viswanathan - Sustainable Energy for All (SEforALL)

• Belinda Wade - The University of Queensland

• Yanxiang (Shawn) Wang - PwC

Note that the composition of the EAG may change over time and this list will be updated accordingly. EAG members volunteer in a personal capacity to provide technical advice over the duration of the project. While their expertise helps guide the development process, final content decisions rests solely with the SBTi. As a result, the final output does not necessarily represent or imply endorsement by individual EAG members or their employers.

Public consultation and pilot test: Industry and non-industry representatives will be able to provide feedback during the public consultations and pilot phases. These opportunities will be promoted on the SBTi website, newsletter and social media platforms.

• Project launch: The Power Sector Project started in 2019 with expert consultations, webinars and stakeholder feedback to ensure alignment with the latest science. In 2020, with support from CDP, we launched the Quick Start Guide for Electric Utilities, providing companies with a resource to set science-based targets in line with sector-specific requirements. Now, we are revising these resources to develop a Power Sector Standard.
• Project updates and call for experts: In May 2024, we published the Project Terms of Reference, outlining our plans to update our current guidance into a Power Sector Standard. At the same time we called for experts to apply to be part of the EAG. In July 2024, we issued a Request for Proposals for consultancy support, and in September 2024, we convened the Power Sector EAG.
• Research and drafting: We are currently in the research and development phase working closely with our technical partner and the EAG to shape the Power Sector Standard. More updates will follow as we continue this work.

• Setting 1.5°C-aligned Science-based Targets: Quick Start Guide for Electric Utilities
• Corporate Near-Term Tool
• Quick Start Guide for Electric Utilities Supplementary Material
• Power Sector Standard Terms of Reference
• Expert Advisory Group Terms of Reference for the Power Sector Standard
• Request for proposal: Consultancy support for the Power Sector Standard development

Companies are also invited to familiarize themselves with the SBTi cross-sector resources, including the Getting Started Guide for Science-Based Target Setting, followed by reviewing the requirements of target setting in the Corporate Near-Term Criteria for near-term targets or the Corporate Net-Zero Standard Criteria for net-zero targets.

To understand these requirements in more depth, companies should also review the Procedure for Validation of SBTi Targets, use the Corporate Near-Term Tool and the Corporate Net-Zero Tool to begin developing targets, and use the Criteria Assessment Indicators (CAI) document to ensure its science-based targets submissions are in line with the SBTi criteria, the Guide for Electric Utilities and the GHG Protocol Accounting Standards.

We also encourage companies to participate in the Corporate Net-Zero Standard revision process and review the consultation draft. The forthcoming Power Sector Standard will follow the structure of the Corporate Net-Zero Standard Version 2.0.

For further information on the project email powersector@sciencebasedtargets.org.

To provide feedback on the Power Sector Standard Project, use this form.

If your sector is not listed here, you can still set a science-based target using our methods and resources. Consult the step-by-step guide to get started.