The word company is used 346 times in the Pilot Finance Sector Guidance, but I can’t see anywhere that it’s defined. If we are dealing with a group structure, does SBTI consider the individual entities within that group as ‘companies’, is the entire group the ‘company’, or is this up to the financial institution to decide?
Hi Simon,
On the financial sector guidance from April 2021, page 27-28 states the following:
FI-C5 – Subsidiaries: It is recommended that financial institutions submit targets only at the parent- or group-level, not the subsidiary level. Parent companies must include the emissions of all subsidiaries in their target submission, in accordance with boundary criteria above. In cases where both parent companies and subsidiaries submit targets, the parent company’s target must also include the emissions of the subsidiary if it falls within the parent company’s emissions boundary, given the chosen inventory consolidation approach.
Hope this helps!
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Thanks Lance for helping out here! 
Indeed the Subsidiaries criterion helps define what SBTi means by companies and below is the corporate version of this criterion(pretty much the same). So by “company” we mostly mean parent company and subsidiaries. Currently, the SBTi also does not engage with cities, local governments, public sector institutions, educational institutions or non-profit organizations.
C5 — Subsidiaries: It is recommended that companies submit targets only at the parent- or group-level, not the subsidiary level. Parent companies must include the emissions of all subsidiaries in their target submission, in accordance with boundary criteria above. In cases where both parent companies and subsidiaries submit targets the parent company’s target must also include the emissions of the subsidiary
Thank you both, very helpful and very swift!
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