Launched in 2018, the Science-Based Targets Initiative for Financial Institutions (SBTI FI) is the first and only initiative in the world developing science-based target setting methodologies, tools, and implementation guidelines for key asset classes covering financial institutions’ main business activities. Targeting banks, pension funds, insurance companies and public financial institutions, the initiative seeks to ensure that the targets set support the transition to a low-carbon economy. As knowledge partner of the initiative, 2°ii is leading the methodology development together with Navigant Consulting. The World Resources Institute (WRI) is the managing partner of the project.
Over the course of 2018, 2°ii developed the target-setting methods for listed equity, corporate debt and corporate loans books portfolio. Next, we will engage in road-testing the methodologies and will launch consultation processes on the target-setting framework. The SBTi FI final framework will be published in 2021.
SBTI FI is part of the wider Science-Based Targets Initiative, which champions science-based target setting as a powerful way of boosting companies’ competitive advantage in the transition to the low-carbon economy. It is a collaboration between CDP, the United Nations Global Compact (UNGC), WRI, and the Worldwide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments.
For more: https://sciencebasedtargets.org/