Net Zero and scope 3 - what is mandatory?

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