SBTi’s new financial sector targets out for consultation

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Here’s a note from David Carlin:

The Science Based Targets initiative (SBTi) released three super important documents for public consultation related to financial sector science-based climate targets!

– The SBTi Financial Institutions Net-Zero Standard: Conceptual Framework and Initial Criteria- the conceptual framework and criteria to be incorporated into a standard to enable financial institutions to establish credible near- and long-term net-zero targets.

– Near-Term Financial Sector Science-Based Targets Guidance V2- updates SBTi’s existing near-term framework to align near-term emissions reduction targets with 1.5°C. It marks an increase in ambition and offers clarifications to improve interpretation and application.

– The SBTi Fossil Fuel Finance Position Paper- this paper presents both near- and long-term criteria to address financial institutions’ activities with fossil fuel companies.

The 60-day consultation period has just opened, have your say and learn more below!