SBTi releases new net-zero standard draft: What companies should know

SBTi updates its Corporate Net-Zero Standard, with the second version expected to take effect by 2028. (Photo: unsplash)

The Science Based Targets initiative (SBTi) has released a new draft of its Corporate Net-Zero Standard on Nov. 6, introducing for the first time the concept of Ongoing Emissions Responsibility (OER), along with more precise definitions for Scope 2 and Scope 3 emissions. If adopted, the updated standard is expected to be fully implemented by 2028.