A holding company I work for as over subsidiaries, affiliates and equity under 10% across North, Central and South America. The companies held by the company vary from agriculture, steel, real estate to technology and more. This holding company does not publicly or internally like to refer to itself as a financial institution.
According to the SBTi, a financial institution engages in investment activities as part of its core functions. If at least 5% of a company’s revenue comes from a defined list of activities, they would be considered a financial institution.
Could you please confirm if this company can use cross-sector guidance instead of the financial institution track?