A Sustainable Investment in Journalism

A sustainable business requires diverse revenue streams. ESG Investor now operates a subscription service as of Tuesday 14th May. To find out more please get in touch with our subscription team on subscriptions@esginvestor.net

SBTi Revamps Criteria for FIs

The Science Based Targets initiative (SBTi) has unveiled a suite of revisions and new resources to support financial institutions looking to set ambitious near-term decarbonisation targets. Version 2.0 of the financial institutions’ near-term (FINT) criteria aims to increase alignment with the SBTi’s Corporate Net Zero Standard by increasing minimum Scopes 1-2 mitigation ambition from “well below 2°C” to 1.5°C. The SBTi has also streamlined coverage requirements, enhanced the clarity, actionability and usability of existing criteria, and introduced additional ones for the new fossil fuel finance targets method option to disclose, halt, transition and phase out financial institutions’ fossil fuel-related activities. The second version of the FINT criteria will come into effect on 30 November, with firms that have SBTi-validated targets expected to update existing goals against the latest criteria within five years of their validation date. Financial institutions that choose to submit targets before this date can opt to be assessed against either version of the criteria. The SBTi is also in the process of developing a net-zero standard for financial institutions to enable firms to develop both near- and long-term science-based targets in line with net zero.

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top