As per your website, SBTi is updating the FI Near-Term Framework and launching a new Net Zero Standard for Financial Institutions (FINZ) in Q4 this year.
I find it a bit difficult to distinguish between the two:
- What will be the main differences between the FI NT Framework and the Net Zero Standard for FIs (FINZ)? Is it solely the time horizon (Near Term = 5 years vs. Long Term?)
- Why are you not just replacing the FI NT Framework with the FINZ instead of having the two in place simultaneously?