Is the Net-Zero Target Validation booking system also for FIs?

Net Zero for FIs
1

Hi, I would like to ask you about the Net Zero Target Validation booking system.

  1. Should FIs book the system to get Net-Zero target validation? I understand that FIs cannot yet validate net-zero targets since the final net-zero methodologies for FI is to be published in Q1 2023.

  2. Can companies that have already committed apply for “near-term targets” verification in 2022 regardless of the ‘new Net Zero Target Validation booking system’?

  3. When can FIs book for the Net-Zero targets validation? Is it after the net-zero standard for FI is published?

Many thanks,
YoungWoo Ryoo

2

Hi @YoungWoo,

Thanks for your questions.

For corporates ex financials there is a booking system where you schedule a time for your validation. We are in the process of creating a similar booking system for financial institutions and hope to have that online in the coming weeks. Financial institutions should use this booking system when it is online.
Financial institutions will not be able to set SBTi-approved net-zero targets before the financial institutions net-zero (FINZ) standard is published.

I hope this helps. /Donald

3

Hi YoungWoo,

The SBTi target validation service offerings currently available can be found here: SBTi-Target-Validation-Service-Offerings-December-2021-1.pdf (sciencebasedtargets.org)

Companies and FIs can book slots for the above validation services via the updated booking system: SBTi Target Validation Booking System (jotform.co)

Thanks,
Howard

4

Thank you, Donald and Haward for the reply.
It is clear now.

And thanks to the SBTi team for the latest edition of the financial sector SBT guidance.

Bests,
YoungWoo