SBTi Net Zero Standard, Commitment & Validation
The Science-Based Targets initiative (SBTi) is a corporate climate action organisation that provides guidance and a process for companies and financial institutions worldwide to promote a response to climate change.
Many companies are making net zero statements, but not all net zero targets are equal. Without adhering to a common definition, targets can be inconsistent. The SBTi’s Corporate Net-Zero Standard (also referred to as the ‘Net-Zero Standard’) contains guidance, criteria, and recommendations to support corporates in setting net-zero to provide that standardisation for targets.
Targets established using the standard can then be submitted and validated by the SBTi which are then published on the SBTi website. Companies can at this point elect to commit to either a short term target only, or supplement it with a long term target to form a complete net zero target. There is also a more streamlined pathway for Small to Medium Enterprises (SMEs). The full criteria for SME classification is provided within this resource
Making a SBTi commitment will...
- Making a net zero commitment through the SBTi shows your company is serious in its response to climate change and carbon reduction.
- Many larger organisations have a Scope 3 target which states a percentage of their supply chain that should be similarly committed through the SBTi which is the most common reason Blue Marble are requested to undertake the process.
- Blue Marble will assess your GHG footprint using a SBTi compliant methodology, calculate targets and explain the documented process that is required to sign up for a validated target for either a SME or a larger organisation.
Frequently Asked Questions
- If a company develops targets in line with SBTi criteria, does it have to be verified by the SBTi?
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A company can measure and monitor its GHG emissions and set internal or public targets in line with the SBTi criteria, having them validated by the SBTi is an additional step that can be taken in line with its own aspirations.
- Does an organisation have to take account of Scope 3 within a target setting process?
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For near term targets if Scope 3 is less than 40% of total emissions, it does not need to be considered included within a target. For long term targets, 90% of Scope 3 emissions must be included within targets. More information can be found here.
- What is the latest that an organisation can aim to achieve net zero?
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All targets must end at the net zero position across all three scopes by 2050 at the latest.
Why choose Blue Marble?
- Publicly committing to a defined net zero target is a significant step, Blue Marble will undertake a full Greenhouse Gas assessment and then help you to decide your targets and ambitions within what is reasonable for your specific organisation.
- We provide you with a specific point of contact whose role it is to explain what is being asked, the process that is required and then completing it in partnership with you.
- We are a business-friendly organisation, we understand our customers have to balance their sustainability objectives with operational necessity.
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