In April 2021, SBTi produced a new guidance that incorporates minor edits and additional
clarifications to address the queries we’ve received since the launch of the guidance. No
changes have been made to the criteria in this edited guidance. Revisions include edits to the
SDA for real estate and mortgage methods appendices; target setting recommendations for
private equity firms; and further clarifications in Section 5.3: Defining the Boundary of Portfolio
Targets and the SBTi’s two fossil fuel-related recommendations. To accompany this updated
guidance, an updated SDA tool for real estate and mortgages portfolios is now available that
is consistent with the updated SDA method description in the guidance. The timeline of a
formal update of the framework depends on receiving a critical mass of financial institutions’
submissions and is therefore yet to be determined.