I’m a little confused around the scope 1&2 guidance and how a renewable energy procurement target fits in. We’re a small FI with limited scope 1&2 emissions, and we already procure 100% renewable energy for scope 2. Do we have to set a combined scope 1&2 absolute/intensity target, or can we set a renewable energy procurement target instead? Or do we have to set both if we want to include renewable energy procurement?
hi @kfoley, welcome to the forum.
Please refer to page 3 of the SBTi How to Guide. You may set a combined emissions reduction target on scope 1 and 2, or you may set a scope 1 emissions reduction target and a scope 2 RE procurement target.
@ChendanY appreciate this is nearly a year old, but can I clarify? Does this mean that for Scope 2 you only have the choice of Absolute Contraction/SDA OR 100% RE? You cannot do, for example 50% by AC/SDA and 50% by RE?
Correct, it’s either/or.
Under FI Near-Term Criteria Version 1.1, scope 2 emissions can be covered by a reduction target or a renewable electricity procurement target (or both such that each target meets criteria).