Corporate Net-Zero Standard

October 28th 2021 Science-Based Targets initiative (SBTi) launched the world’s first science-based framework for organisations to set net-zero targets –

Key components of the Corporate Net-Zero Standard

1. Near-term targets: Rapid, deep cuts to direct and indirect value-chain emissions must be the overarching priority for companies. Companies must set near-term science-based targets to roughly halve emission before 2030. This is the most effective, scientifically-sound way of limiting global temperature rise to 1.5°C.
2. Long-term targets: Companies must set long-term science-based targets. Companies must cut all possible - usually more than 90% - of emissions before 2050.
3. Neutralize residual emissions: After a company has achieved its long-term target and cut emissions by more than 90%, it must use permanent carbon removal and storage to counterbalance the final 10% or more of residual emissions that cannot be eliminated. A company is only considered to have reached net-zero when it has achieved its long-term science-based target and neutralized any residual emissions.
4. Beyond Value Chain Mitigation (BVCM): Businesses should invest in BVCM in addition to near- and long-term science-based targets. BVCM includes projects to restore natural carbon sinks like tropical forests and peatlands as well as projects that protect nature such as Jurisdictional REDD+. It also includes technology based removals such as Direct Air Capture and Carbon Storage. BVCM is never a substitute for rapid and deep cuts to value-chain emissions. Please refer to the BVCM page for details.

Find all relevent information here

Getting started guide for setting science based targets PDF here

 STBi - Corporate Net Zero Standard PDF here

Corporate Net Zero standard Criteria PDF here

Back to Basics videos providing a fundamental overview on setting targets - watch here

Watch other videos on SBTi youtube channel here

Source : Science Based Target Initiative

Further Reading : Blog by Faradai : A walkthrough of SBTi and The Net-Zero Standard