SBTi Releases Editorial Updates to Net-Zero Standard and Near-Term Criteria

The Science Based Targets initiative published a suite of minor revisions to its target-setting resources on 13 March 2024, effective immediately, covering the Corporate Net-Zero Standard, the Corporate Near-Term Criteria and related materials. The changes are described as non-substantive and do not alter the manner in which companies must conform with SBTi criteria.

The updates include editorial and administrative clarifications reflecting the latest technical and operational developments within the SBTi. A Main Changes Document was released alongside the revised resources, providing a detailed breakdown of each amendment, including a description of the revision, the rationale for the change and the precise location of the update. The SBTi also published a glossary in February 2024 to improve accessibility and ensure consistent use of terminology across its technical resources.

By characterising the March 2024 revisions as minor and non-substantive, the SBTi signalled that the core conformity requirements of the Corporate Net-Zero Standard and Near-Term Criteria remain unchanged pending the major revision currently underway. Companies that have already set or are in the process of setting science-based targets under the existing documents are not required to resubmit or make material changes as a result of these updates. The glossary, available as a PDF and searchable list on the SBTi website, addresses longstanding inconsistencies in how terms such as net-zero, abatement and neutralisation are used across different documents and sectors.

These administrative improvements are part of the SBTi's broader effort to reduce friction for companies setting science-based targets, increase transparency in target validation and prepare for the major Corporate Net-Zero Standard revision expected to produce a draft for public consultation in late 2024. For Indian companies navigating SEBI's BRSR Core requirements alongside international voluntary standards, the SBTi's improved documentation and terminology consistency reduces the risk of misalignment between internal sustainability reporting and externally validated climate targets.

Key figure — Minor revisions effective immediately from 13 March 2024; glossary published February 2024