The Science Based Targets initiative announced on Monday a new expert working group and a second public consultation to ensure businesses and other stakeholders have extensive opportunity to input into the revision of the Corporate Net-Zero Standard.
The initiative, which launched the world’s first framework for corporate net-zero targets in 2021, said the new mechanisms would give businesses, civil society and academia more opportunities to shape the revision.
The first public consultation is expected to begin no earlier than March 2025.
Strengthening Climate Action Standards
“As more than 1,500 businesses have now aligned their targets with our Net-Zero Standard, we have a responsibility to ensure that it remains both ambitious and practical,” said Alberto Carillo Pineda, chief technical officer at SBTi. “The feedback we have gathered since the release of the first version has been invaluable, and we are committed to strengthening the standard to accelerate science-based climate action.”
The revision will introduce a new categorization system, making the standard more accessible for businesses of different sizes and geographies. It will also clarify reporting processes, improve guidance on value chain emissions, and refine methodologies for carbon removal and residual emissions management.
Addressing Scope 3 and Supply Chain Emissions
Scope 3 emissions, which often represent the majority of a company’s carbon footprint, will be the focus. SBTi is exploring expanded metrics and tools to help businesses set targets and track emissions more effectively across their supply chains.
The initiative will also seek to clarify how its Corporate Net-Zero Standard interacts with other emerging frameworks, including the forthcoming Financial Institutions Net-Zero Standard.
Expert working groups will play a central role in the revision, focusing on five key areas: Scope 2 emissions related to purchased energy, Scope 3 emissions, removals and carbon dioxide reduction, ongoing emissions mitigation and data quality assurance.
An updated Terms of Reference document details how to apply to these groups. Interested experts must apply by February 28, 2025.
Public Consultation and Timeline
SBTi plans to release an initial draft of the revised Standard for a 60-day public consultation after approval from its technical council. A second consultation will follow pilot testing to refine the Standard further.
“In order to reach net zero, businesses need clear, practical guidance,” said Tracy Wyman, SBTi’s chief impact officer. “The additional consultations we’re announcing today will help ensure the revised Standard is fit for purpose while maintaining the high level of ambition needed to address the climate crisis.”
Until the revised Standard is finalized, SBTi emphasized that the current framework remains the most credible way for businesses to set science-based net-zero targets. Once the update is complete, companies already set targets under the existing standard will not need to duplicate their efforts.
The final timeline for the pilot phase, second consultation, and launch of the updated Standard will be determined following stakeholder feedback. Throughout the process, SBTi has committed to publishing the input received to maintain transparency.
For now, businesses and other stakeholders are encouraged to participate in the consultation process to help shape the next iteration of the Corporate Net-Zero Standard, which remains at the forefront of global corporate climate strategy.
