My organisation would like to set a science-based target, but since we are a financial institution we would be required to set targets for our scope 3 investment emissions. However, as a specialist currency asset manager, this would be difficult as there is not yet published methodology on how to align FX investment with net-zero. Would our organisation be able to set a science-based target despite this, and include scope 3 investment emissions later down the line when the methodology is available?
Hi,
Financial institutions are required to set S3 targets since that is a central part of the Paris agreement, to align financial flows with climate action. Therefore, it’s probably best to wait with target setting until there is an appropriate methodology. But don’t hesitate to make suggestions as to how FX could be a part of it.