Base year, target year and most recent inventory - Calendar or Fiscal year?

We note that your guidance on operational emissions requires the base year to be no longer than 2 years prior to the submission year. Is this based on calendar year or fiscal year? For example, most financial institutions report in 2022 on their 2021 performance, including climate and have published targets using a 2019 baseline, which is in line with the NZBA guidelines of using baselines no more than 2 years prior, but based on FY, FIs have a significant lag in data from counterparties and are thus producing financed emissions estimates with a delay.

Hi there, thanks for the question. Both financial year or calendar year can be used, so FIs are free to select which is most suitable for them.