The Science Based Targets initiative (SBTi) has released the initial draft of its new Corporate Net Zero Standard, a framework aimed at helping businesses set credible, science-based targets to achieve net-zero emissions. This new standard is designed to provide clear guidance for companies on how to align their net-zero commitments with the latest climate science and the goals of the Paris Agreement. The draft outlines the necessary steps for companies to reduce their emissions across both scopes 1, 2, and 3, addressing direct, indirect, and value chain emissions. It also focuses on transparency, accountability, and ensuring that companies’ commitments are both ambitious and achievable in order to meet the critical global target of limiting global warming to 1.5°C.
The release of the draft is part of the SBTi’s ongoing effort to standardize and strengthen corporate climate action globally. As more companies commit to net-zero goals, the SBTi aims to ensure that these commitments are backed by science and measurable progress. Early feedback on the draft has emphasized the importance of clear guidelines on offsetting practices and the role of nature-based solutions in reaching net-zero targets. The finalized standard is expected to help businesses improve their climate strategies, integrate climate action into their core operations, and contribute more effectively to global climate goals. The public consultation period for the draft will help refine the standard before it is finalized later this year. More