Science Based Targets. "Net-Zero for Financial Institutions". Accessed December 06, 2021. https://sciencebasedtargets.org/...

Standardization is needed to evaluate and validate net-zero commitments in the financial sector.  This is needed for financial institutions to drive the decarbonization of the real economy and stabilize temperatures at 1.5°C above pre-industrial levels.  The objective of the Science Based Targets initiative (SBTi) is to bring a scientific basis for FIs to achieve net-zero by 2050.  The Net-Zero for Financial Institutions Foundation Paper sets out principles, definitions, metrics, and targets for a quantitative net-zero standard for financial institutions.  The transparent and inclusive multi-stakeholder process engages financial institutions, NGOs, government officials, and other interested parties.

Posted on 06/12/21

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