If a financial company want to commit to Net Zero Target (long term), is it then sufficient to have net zero target for investments (scope 3) or is it mandatory also to set other scope 3 emissions targets e.g for suppliers?
Best Regards, Pernille
Hi Pernille, thanks for your question. The SBTi does has not yet completed its net-zero standard for financial institutions, and therefore we dont have net-zero target setting criteria. We would expect however that financial institutions address all sources of their emissions, including non-financed scope 3 emissions. These emission sources are currently optional to cover under the mid-term framework however, where instead, the FI just needs to cover their financing activities
Will the net-zero targets be indispensable once the criteria is published? What I mean is, if they commit now, there is no net-zero target criteria set. If an FI, in process of setting targets, ask for an extension, will it be required to set net-zero targets afterwards?
Thanks in advance,
Nalan
Hi Nalan,
A similar question was answered here: Near-term guidance and FINZ Standard Submission Extension - #2 by hunterb
The FI will have the choice to submit a target against the Net-Zero Standard(when available) or against the SBTi Finance Guidance for the time being.
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