Once the target for financial institution is submitted, how long will the approval process take?

Under the free pilot phase for submissions from the first 20 financial institutions, SBTi does
not guarantee a set turnaround time for the validation process. We aim to complete the
process within 2 months, using the 30 day timeframe for regular company validations as a
reference. SBTi plans to launch a formal target validation service for financial institutions after
the pilot phase.

I have a couple of questions in relation to submissions.

  1. Do the above pilot timelines (aiming for 2 months) still apply?
  2. When do you expect the pilot phase to end? Will this formal validation service have the same 30 day timeframe as regular company validations?

Thank you

Please can you provide an update on the above questions?