On May 28, SBTi issued an updated version of the near-term criteria.
SBTi issued SBTi Financial institutions' near-term criteria, version 2.0, dated May 2024.
Document dated May 28, 2024, received from SBTi Oct. 15, summarized on Oct. 17.
Near-Term Criteria
Includes criteria that must be met for financial institutions’ near-term targets to be validated by SBTi, recommendations that are important for transparency, best practice.
Real economy firms generating at least 5% revenue from financial activity encouraged to use near-term criteria to set targets for those activities, plus corporate targets.
Version 2.0
Updates to FI-C10, FI-C12, FI-C15, FI-C16, FI-C17.1, FI-C17.2, FI-C17.3, FI-C17.4.
For a summary of changes and details on the development process, refer to the accompanying main changes document, which provides various clarifications.
Effectiveness
Version 2.0 is effective from Nov. 30, 2024.
All submissions received by the SBTi prior to Nov. 30, 2024 can be assessed against either Financial institutions' near-term criteria, version 1.1 or 2.0.
