Options to offset Scope 3(financed emission) for an FI's Net-Zero target

Hello,

I am currently exploring mitigation options for financial institutions’ net-zero targets including decarbonization, carbon dioxide removal, avoided emissions, and offsetting with carbon credits. Meanwhile, I have noticed from ‘FINANCIAL SECTOR SCIENCE-BASED TARGETS GUIDANCE PILOT VERSION 1.1’ that SBTi is currently planning on further elaborating on the framework focused on net-zero targets for financial institutions" within this year(2021).

It is also noted from the document that SBTi’s central consideration for financial institutions’ net-zero targets is the treatment of mitigation options including decarbonization, carbon dioxide removal, avoided emissions, and offsetting with carbon credits.

Based on our understandings above, I would really appreciate if SBTi could provide answers to the following questions:

  1. Is there a potential due date for the updated framework on net-zero targets for financial institutions?

  2. Can mitigation options such as carbon dioxide removal, avoided emissions, and offsetting with carbon credits be counted towards net-zero target of scope 3 emission(investment)?

Thank you

2 Likes

Hi,
Last week we we launched the foundations of our net-zero work which can be access here: SBTi Launches New Foundations of Net-Zero for Financial Institutions Draft for Public Consultation - Science Based Targets
The paper addresses some of your questions and we would appreciate your feedback
Many thanks