Can you include a net-zero target in a FI submission form

Net Zero for FIs
1

Hi SBTi team.

I am working with an organisation who are classified as a FI. They have committed to both a near-term and net zero target.

I am helping them complete their FI target submission form.

In particular reference to Table 3 that covers other targets (e.g. Portfolio targets).

My understanding is that they cannot yet include the net-zero target in this table because SBTi are yet to finalise the FI net-zero guidance? Further to this - when that guidance is finalised - will there be specific net-zero validation form seperate to this current FI submission form? Will the company be made aware by SBTi that they can now follow through on their commitment which is live on the SBTi website?

Can you please confirm this is correct and how will this impact on pricing models

2

@Eoin - any chance you can assist with this. I need an answer quite urgently as it impacts larger public commitments and reporting

Cheers
Mike

3

Hi Mike, thanks for your patience. FIs cannot yet include their net-zero targets as this methodology is still in development. As with corporates, we envision a specific net-zero validation for these targets once the framework is finalised. FIs will then be able to choose to have their near-term and long-term net-zero portfolio targets validation.
FIs will be made aware once their net-zero commitment becomes “live”, and as with the near term frameowrk they will have a two year window from the launch of the framework.

4

Thanks so much @Eoin

5

Hi Eoin,

Could you please provide me with the anticipated release date of the Financial Institution Net-Zero Standard Exposure Draft for the Financial Sector under development by SBTi?

6

Hi Julie,

Please see this recent blog for an overview of upcoming SBTi financial sector resources.

Thanks,
Howard