SBTi Publishes Four Technical Research Papers to Guide Net-Zero Standard Revision

The Science Based Targets initiative released four technical outputs on 30 July 2024 to inform the ongoing revision of its Corporate Net-Zero Standard, covering scope 3 approaches and the effectiveness of environmental attribute certificates. The outputs mark the first major research publication in the revision process, which is expected to produce a draft standard for consultation by end of 2024.

The four documents released on 30 July 2024 include a scope 3 discussion paper setting out the SBTi's initial thinking on value chain target-setting changes, a full release of all evidence submitted to a prior open call on environmental attribute certificate effectiveness, a synthesis report on carbon credit evidence, and findings from an independent systematic review of peer-reviewed literature on carbon credits as a substitute for direct abatement. The synthesis report covers Part 1 on carbon credits, with separate reports on energy and commodity certificates to follow.

The scope 3 discussion paper is descriptive rather than prescriptive, outlining underlying principles and concepts under consideration without proposing draft criteria or requirements. This approach signals that the SBTi is still in an exploratory phase on value chain emissions, an area where companies have consistently flagged measurement complexity and supply chain traceability as barriers. The independent systematic review of carbon credit literature adds a layer of external scrutiny, separating evidence assessment from the SBTi's own synthesis and standard-drafting functions.

The SBTi confirmed that no changes to the standard and no final decisions on its content would be made before the revised version comes into effect in 2025. Companies wishing to set net-zero targets were advised to continue using Corporate Net-Zero Standard V1.2 in the interim. The revised CNZS will aim to address the four main goals: aligning with the latest scientific insights, tackling scope 3 challenges, enhancing continuous improvement mechanisms, and improving integration with other standards. Public consultation on the draft was planned to follow the technical research phase.

Key figure — Draft Corporate Net-Zero Standard for consultation expected by end of 2024