Impact of the Covid 19 pandemic on baseline emissions

Hi there,

The guidance states the baseline data must be within 2 years of the submission date. If an FI is looking to submit their target in 2022, their options for their baseline operational emissions (scope 1 & 2) are 2020 or 2021. Due to the pandemic, scope 1 and 2 emissions from these years are not likely to be representative, and emissions may be considerably lower. Is it possible for FIs to use 2019 baseline instead, or inflate 2020 or 2021 emissions based on what they would have been if not for the impact of the pandemic. Otherwise, the operational targets will require a much lower level of emissions to be achieved, which will be a lot more challenging for companies to achieve, if their emissions already dropped significantly during the pandemic and will increase again in 2022 in comparison.

Finally, does the same baseline year for financed emissions need to be used as the year for the operational emissions?


Hi Vickey,

Thanks for your question. SBTi has provided a FAQ regarding Covid-19’s impact on inventory baseline:

You may use a different baseline year for scope 3 category 15 financed emissions.

Thank you, that’s very helpful!

Hi, I am wondering whether baseline 2019 can be applied to portfolio coverage method as well? NZAM initiative proposed to set 2019 as a baseline.

Hi there,

Is there any update on the query above? I am also currently investigating setting one portfolio on 2019 baseline due to data, whilst other asset classes baselines are 2020. Is this allowed?