SBTi’s document is the latest step in the process of creating a financial institution Net Zero (FINZ) standard to be released in 2024

The criteria outlined are ambitious in their coverage of financed and facilitated emissions, which are defined as “Category 15+”, referring to the GHG Protocol’s substantially narrower definition of financed emissions

It will remain challenging to develop a consistent framework for forward-looking Net Zero plans that incentivize investment in transition activities while avoiding easier but less meaningful ‘portfolio decarbonization’