What's included:

On 15th June 2023, the SBTi released three new draft resources relevant to financial institutions (FIs) for public consultation.  Note that the SBTi classifies any of the below as an FI:

  • Asset managers/ owners
  • Retail/ commercial banks
  • Insurance companies functioning as an asset manager
  • Mortgage real estate investment trusts
  • Organisations obtaining >5% of annual revenue from investments or the above activities.

The update expands upon the currently available near-term guidance for the finance sector to provide an initial outline of the expectations of FIs when setting net zero carbon targets.  These expectations include a specific paper dedicated to addressing fossil fuel finance and the provision of an effective but just transition to a low carbon future.  

The consultation response has now closed and will be deliberated over by the SBTi in the lead up to final publication of the framework in Q1/2 2024.  A team of our net zero strategy consultants have explored the contents of the consultation documents and summarised their findings in a briefing pack which you can download here.

The comprehensive pack includes:

  • The Science Based Targets initiative introduction
  • SBTi Financial Institutions guidance overview
  • Emissions coverage
  • Near-term targets
  • Long-term (net zero) targets
  • Fossil fuel finance
  • Impact


Complete the form to download the briefing pack.


Download here: