On the target language question, if you are setting a temperature rating target on 50% of your stocks and bonds and a SBT portfolio coverage target on the other 50% of stocks and bonds, you can describe them as follows as per the current target language template:
SBT portfolio coverage: Investment Firm A commits that XX% of its equity and bonds portfolio by [unit] will have set science-based targets by 2025.
Temperature rating: Investment Firm A commits to align its scope 1 + 2 portfolio temperature score of its listed equity and bonds from XX°C in 2018 to XX°C by 2025. Investment Firm A commits to align its scope 1 + 2 + 3 portfolio temperature score within listed equity and bonds from XX°C in 2018 to XX°C by 2025.
Note that this not yet specifies that the 1st target covers half of the portfolio and the 2nd target covers the other half. Given how portfolio coverage targets are described, it can be slightly confusing to add that it’s 50% of the portfolio that’s covered. We will brainstorm ways to provide that target level information on the SBTi website, perhaps in a table format, to provide more details on the coverage of each target, without crowding the target language itself.
Please also note that during the validation process, the reviewer will provide guidance on revising target language wherever necessary.