About the necessity for FIs to set the net-zero targets of Scope 3 1-14

Dear SBTi Community,

Although the final version of the net-zero standards for the FIs has not yet been released, I would like to first understand about the necessity for financial institutions to set the net-zero targets of Scope 3 C1-C14:

  1. In Financial Institutions’ Near-Term Criteria, SBTi only recommends (not require) financial institutions to set SBT targets for Scope 3 C1-C14. Could it be understood as:
    .The net zero targets that financial institutions should set include Scope 1, Scope 2, and Scope 3 C15.
    .As for Scope C1-C14, SBTi only recommends that it could be formulated, but it is not a mandatory requirement.

  2. SBTi Corporate Net-Zero Standard Criteria mentioned that the boundary of long-term science-based targets of general enterprises (not FI) shall cover at least 90% of total scope 3 emissions considering the minimum boundary of each category in conformance with the GHG Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard. Exclusions in the GHG inventory and target boundary shall not exceed 10% of total scope 3 emissions.
    The emissions of our company’ Scope 3 15 (investment emissions) in 2023 account for 98% of its total emissions of Scope 1, 2, and 3. This coverage rate is actually in line with the requirement of SBTi for the coverage of the scope 3 net-zero targets for general enterprises. From this perspective, it seems like that it doesn’t seem necessary that financial institutions to set net zero target of their Scope 3 C1-C14.

Based on the above, is it possible that the net zero target set by our company does not need to include the emissions of Scope 3 C1-C14?

Thank you