Hello, my name is Jay. I am working on a project for an affiliate and encountered a few questions regarding the SBTi MRV process. It would be greatly appreciated if you can provide a brief answer to these questions. Thank you.
How does SBTi track each company’s effort toward its goal? What’s the frequency of your tracking (ie. on an annual basis)? Is there any punishment for companies that fail to achieve the goal on a pro-rata basis?
The target validation protocol states that targets must be reviewed, and if necessary, recalculated and revalidated, at a minimum every 5 years. Does it mean that companies will be assessed on whether they achieve the goal on a pro-rata basis? For example, if a company commits a 25% carbon reduction within 10-year, will it be reviewed in the 5th year on whether 12.5% is achieved? What punishments or any measures will be taken by SBTi officials if that 12.5% is not met?
After the goal is validated, companies will have to disclose their emission data through the annual report, CDP, etc. Does the company have to provide any information directly to SBTi?
Look forward to your reply, thank you very much!