Base year, target tear and most recent inventory

Could you please confirm the following:

Your assessment of ambition will be done based on the most recent inventory against target year – essentially, the base year is not as relevant?

The most recent inventory is the latest year for which the FI realistically has data and calculated emissions? For targets submitted in 2023, depending on internal reporting timelines and data availability, the most recent inventory could be 2020.

A base year of 2019 for targets submitted in 2023 is acceptable, as long as the most recent inventory (2020 or 2021) reflects the required ambition? This would enable FIs to retain targets they have already published, as long as these meet the required level of ambition.

In general, when you’re setting a targets you should as far as possible use the latest available emissions data as your base year, unless there are specific reasons when this may not reflect the true nature of your business.