Target setting with a FI as a subsidiary

SBTi commitments and submissions
1

Swiss Post commited to net-zero science-based emissions reduction targets. We plan to submit our target validation form by the end of the year. For Scope 1 and 2 everything is clear, calculated and measures in place. We are now working more on our scope 3 screening. Our big challenge is the scope 3 target of our strategic subsidiary PostFinance, a financial institution, whose financed emissions account for more than 40% of the scope 1-3 emissions of Swiss Post in total.

For PostFinance, several issues arise in connection with the upcoming target submission. PostFinance Scope 1 & 2 emissions are included in those of Swiss Post, and will submit its own target for Scope 3 emissions possibly together with Swiss Post. Would it be possible to submit that Scope 3 target later? What would it mean for Swiss Post if PostFinance is later with the Scope 3 target, could Swiss Post still get its target validated?

2

Welcome to the forum @Brigitt,

First apologies for this late reply. Unfortunately, as the method for financial institutions is available since October 2020, PostFinance needs to be included in Swiss Post’s target, as a target must include the whole organisation for which there are applicable target setting methods.