SBTi Details Eight-Stage Process Behind Its Climate Standard Development

The Science Based Targets initiative published an explanation of its Standard Operating Procedure in July 2024, setting out the eight formal stages through which all SBTi standards must be developed or revised. The SOP was approved in December 2023 and the ongoing revision of the Corporate Net-Zero Standard is the first major project conducted under its requirements.

The eight stages are: project request and feasibility evaluation; project initiation with a formally approved Project Initiation Document and published Terms of Reference; technical research; drafting in accordance with SOP requirements; public consultation for a minimum of 60 days, with a second round of at least 45 days required for new standards; approval by the independent Technical Council followed by Board adoption; implementation and training; and ongoing monitoring and evaluation. Major projects, defined as those developing new standards or making significant conformity-impacting revisions, require consultation between the Chief Technical Officer and the Executive Leadership Team.

The SOP formalises the SBTi's transformation from a collaborative initiative into a recognised voluntary standard-setter. A key feature is the independence of the Technical Council, which must review and approve draft standards before public consultation and give final approval before Board adoption. If either the Technical Council or the Board identifies gaps in procedure or strategic alignment, the process reverts to revision, with actions documented and communicated formally. This governance design is intended to give companies, investors and regulators greater confidence in the credibility of SBTi standards.

Existing SBTi normative instruments, including methods, guidance, criteria, pathways and tools developed before the SOP's adoption, are expected to adhere to SOP requirements where possible and will formally follow the procedure upon their next revision. The SBTi is also preparing membership in ISEAL, the international assurance body for sustainability standards, as a further step in formalising its governance. The monitoring and evaluation stage includes a stakeholder feedback form through which anyone may submit concerns or proposals for improvement after a standard is published.

Key figure — SBTi Standard Operating Procedure approved December 2023