September 19, 2024 – The Science Based Targets initiative (SBTi) has announced significant updates to its corporate net-zero standard, aimed at refining how companies approach emission neutralization. This revision comes as part of the SBTi's ongoing effort to provide robust frameworks for organizations striving to meet climate goals.*

The updated standard introduces clearer guidelines for companies seeking to achieve net-zero emissions, emphasizing the importance of reducing emissions as a priority over reliance on offsetting measures. The revisions are intended to address growing concerns about the effectiveness and transparency of carbon offsetting practices, which have faced criticism in recent years.

“While offsetting has its place, our enhanced standard underscores that genuine emissions reductions should always be the primary focus for companies,” said a spokesperson for SBTi. “This revision is designed to ensure that organizations are not only committing to net-zero but are also taking meaningful actions to reduce their overall carbon footprint.”

The new framework provides detailed criteria for measuring and reporting emissions reductions, offering companies a structured path toward accountability. It encourages businesses to set science-based targets that align with the latest climate science, ensuring their strategies contribute to global efforts to limit warming to 1.5°C.

Additionally, the updated standard requires companies to disclose their progress transparently, allowing stakeholders to assess their commitment to sustainability. This move is expected to enhance trust and engagement with consumers, investors, and regulators.

As organizations face increasing pressure to demonstrate their climate action commitments, the SBTi's enhancements aim to clarify expectations and bolster the integrity of corporate net-zero initiatives. The revisions are seen as a critical step toward a more sustainable future, where emissions reduction takes precedence over temporary fixes.

With these updates, the SBTi continues to lead the way in promoting science-based climate action, helping businesses navigate the complexities of sustainability while holding them accountable for their environmental impact.

For further information and resources, companies can visit the SBTi website and access the updated corporate net-zero standard.

https://sciencebasedtargets.org/resources/files/Corporate-Net-Zero-Standard-V2.0-Terms-of-Reference.pdf