SBTi Progress Framework
Last updated
Last updated
The SBTi Progress Framework aims to provide transparency and integrity in continuing to hold companies and financial institutions accountable for their climate targets. It aims to do this by providing a clear and standardized mechanism to assess, verify and enhance corporate accountability on progress towards science-based targets. The framework will give companies and financial institutions clear expectations and guidance on how to measure, report and verify progress against the achievement of targets.
It will include the following elements:
Technical Foundations will provide the technical details, overarching principles and methods for how the SBTi will assess progress against targets and achievement of science-based targets.
Monitoring, Reporting and Verification Standard will provide the criteria and recommendations from the SBTi to companies and FIs regarding measurement and reporting of progress against science-based targets and their maintenance.
SBTI MRV Protocol will outline the SBTi’s plan for assessing, incentivizing, and/or disclosing progress and achievement of science-based targets.
Although this approach will no doubtedly improve the accuracy of the reporting, it also puts a burden on companies to ensure that the adhere to the standards set. Greenearth.Finance seeks to make this process less cumbersome and difficult so that more companies regardless of size can implement carbon reduction targets.
