The Net-Zero Standard
The Science Based Targets initiative’s (SBTi) Corporate Net-Zero Standard includes the guidance, criteria, and recommendations companies need to set science-based net-zero targets consistent with limiting global temperature rise to 1.5°C. The framework consists of four parts: 1) setting near-term interim science-based targets for rapid, deep emissions cuts, 2) setting long-term science-based targets that align with reaching net-zero at the global or sector level by 2050 or sooner, 3) neutralizing residual emissions, and 4) taking action to mitigate emissions beyond the value chain. This resource also includes specific sector guidance for setting science based targets, as well as guidance for updating and communicating targets. It should be noted that SBTi has reduced their restrictions related to acceptable carbon removal practices, including offsetting, but the document highlights that only the final 5-10% of emissions may be neutralized this way in order to qualify as net-zero.