Updated Financial Sector SBTi Guidance & approved targets

[Donald]

Hi @kristrun,

Please have a look at this thread that is addressing the same questions.

Status of guidance and criteria resources

Hi @mckenzies, Good health and welcome to the forum. Thanks for your question and apologies for the late reply. The pilot phase is not referring to the finalization of the framework and/or validity of the targets approved under the “pilot version”. But it refers to the fact that companies submitting the targets during the pilot phase are the very first companies submitting their emissions reduction targets under the SBTi framework for Financial Institutions (FI) and that we waive the usual va…

Companies have 2 years from commitment to submit their targets for validation to the SBTi. As the framework was first published in October 2020, the clock started ticking at that point for any financial institution that had committed before the launch of the framework.

So, we are 13 months into that process right now and expect the coming year to be busy with validating and releasing new approved targets for financial institutions (FI).

The first FIs had their targets approved in October 2021, so just a few weeks ago, and to date we have 9 companies approved under the FI framework.