🚨 SBTi 2.0 is out.
Importantly, rules on claims and target fulfillment are not in the standard, but pushed to future publications. That means much is still to be discussed, and topics like operational net zero are still live.
That companies have to motivate *why* they are not taking financial responsibility for ongoing emissions, is really excellent.
This was my fast reaction. More to say. And next week an ISO net zero standard draft is coming out too.
(Disclaimer: I was part of an SBTi expert working group but completely speak in my own capacity.)
For carbon removal it is an *improvement from earlier drafts* of the 2.0 version. For example it again says that long-lived emissions need long-lived removals.
But there is no drastic change that drives near-term CDR demand.
I really like that transition plans are now a must. That is where companies can be clear about what emissions they control themselves and what depends on outside change, and what they do about it.
And the SBTi is shifting away from crude binary target fulfillment, targets are set on a "best effort", and if a company does all they can, they can still be deemed compliant even if they miss the targets. They don't go the whole way on this though and call targets conditional.
