Repost - Absolute contraction approach - 4.2% or more depending on base year?

1

previous unresolved query

Hi there,

Apologies for the repost but I have not received a response since I posted this in December. Can I please ask if the 4.2% absolute year on year reduction requirement is something that remains static regardless of when an FI sets their target for their operational footprint? E.g if a Scope 1 and 2 target is set in 2024 with a base year of 2023 - for 2030. Will that mean 4.2% absolute reduction every year from 2023 to 2030?

I am asking because that means that late targets will achieve a lower absolute reduction this way. At the same time, if late targets mean higher yoy reductions required, this is incentivising companies setting targets, to use a 2021 base year to avoid a ramp up even if 2023 is their most representative year due to COVID.

Many thanks,

Ana

2

Hello Ana
For targets with a base year after 2020, the minimum ambition is adjusted to ensure that at least 42% reduction occurs by 2030. This adjustment ensures that late targets achieve the minimum reduction occurs between 2020 and 2030.

The 4.2% absolute reduction year on year applies to base years in 2020 or earlier.

I hope this helps to clear your question.

Best regards,

Monica