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SBTI TARGETVALIDATION SERVICEOFFERINGSTVT-INF-001 / Version 1.0December 2021SBTi Target Validation Service -INF-001 Version 1.0 December .org
SBTI TARGET VALIDATION SERVICE OFFERINGSTVT-INF-001 Version 1.0 December 2021Near-term science-based target submission* 9,500The near-term science-based target submission service is a robust technical review conductedby our team of experts, composed of several steps. An initial screening is performed todetermine if all necessary information is provided. The company’s target(s) are then reviewedby the SBTi Target Validation Team against all SBTi criteria, where escalation to the TechnicalWorking Group may occur for special cases. Finally, detailed feedback is provided through i) acomprehensive target validation report including recommendations to address noncompliances, if applicable, ii) an official certificate if targets are approved, and iii) up to 60minutes of feedback conversations with a technical expert from the SBTi, upon request andprioritized for companies who are not approved. The results of the validation are ready within30 business days from the date the contract is fully executed by both parties provided that anyqueries for further information or clarification sent by the Target Validation Team are resolvedwithin 2 business days. This service also includes a second submission at no additional costfor validations that are not accepted and are re-submitted within six months. Companies withapproved targets that wish to resubmit or update the ambition of their targets must resubmittargets through the “target update service”, even if the submission occurs within 6 months oftheir initial approval. For more information on the near-term science-based target submissionservice, please refer to the SBTi Corporate Manual and Target Validation Protocol.Target update service*A combination and improvement upon of the previous “resubmission” and “voluntary ambitionupdate” services 4,750The target update service is a streamlined process developed for companies who wish to aligntheir targets with our new minimum ambition level of 1.5 C or to update or edit previouslyapproved targets in other ways. The SBTi has combined the “resubmission” and “voluntaryambition update” services into a single service called the “target update service” and is adiscounted service from the near-term submission service. The service offers the samecomprehensive review performed in the near-term submission service and will also include acomprehensive target validation report including recommendations to address noncompliances, if applicable, and an official certificate if targets are approved.* All submissions received by the SBTi as of February 1, 2022 will be subject to SBTi service offerings and prices.Please note that the pricing of services are subject to change based on demand and resource requirements.SBTi Target Validation Service -INF-001 Version 1.0 December .org
Near-term science-based target submission – Small- and medium-sized enterprises(SMEs) 1,000The SBTi has a streamlined route for small and medium-sized enterprises (SMEs), defined asa non-subsidiary, independent company which employs fewer than 500 employees. Note thatFinancial Institutions and Oil & Gas companies are not eligible for this route. This serviceenables SMEs to bypass the initial stages of committing to set a science-based target and thestandard target validation process. SMEs can immediately set a science-based target for theirscope 1 and 2 emissions by choosing from one of several predefined target options availablein the SME science-based target setting form. Unlike larger companies, the SBTi does notrequire SMEs to set targets for their scope 3 emissions; however, SMEs must commit tomeasure and reduce their scope 3 emissions. Targets submitted through the dedicated routefor SMEs will be automatically approved and posted to the SBTi website, pending due diligencereview and payment.Net-zero target submission 9,500To align with the Net-Zero Standard, companies must first set near-term science-based targetsthat meet the near-term criteria in the Net-Zero Standard and the current SBTi Criteria. Pleaserefer to step 1 in the Net-Zero Standard Overview for more information. Companies must submita separate near-term target submission through the near-term target submission service or thetarget update service. Companies also have the option to submit both near-term and net zerotargets at the same time through one of the net-zero packages described below.After setting a near-term science-based target, step 2 in the Net-Zero Standard Overview is toset a long-term science-based target to reduce emissions by at least 90% by no later than2050. The launch of our new net-zero target submission service is a robust technical review ofyour company’s long-term science-based target and is equal to that of the near-term targetsubmission service, conducted by our team of experts and composed of several steps. An initialscreening is performed to determine if all necessary information is provided. The company’starget(s) are then reviewed by the SBTi Target Validation Team against all SBTi Net-Zerocriteria, where escalation to the Technical Working Group may occur for special cases. Finally,feedback is provided through i) deliverables including recommendations to address noncompliances, if applicable, ii) an official certificate if targets are approved, and iii) up to 60minutes of feedback conversations with a technical expert from the SBTi, upon request andprioritized for companies who are not approved. The results of the validation are ready within60 business days from the date the contract is fully executed by both parties provided that anyqueries for further information or clarification sent by the Target Validation Team are resolvedwithin 2 business days. For more information on how to set net-zero targets, please refer to theresources on the SBTi Net-Zero webpage.Please note that the pricing of services are subject to change based on demand and resource requirements.SBTi Target Validation Service -INF-001 Version 1.0 December .org
Near-term science-based target update Net-zero target submission – Package Rate 12,750Companies with previously-approved near-term targets who wish to align with the Net-ZeroStandard, have the option to resubmit their near-term science-based targets and a net-zerotarget for validation at the same time for a discounted rate. This is essentially the target updateservice and net zero target submission in one package. The combined service is designed toencourage companies to increase the ambition level of their near-term science-based targetsto align with the Net-Zero Standard and the current SBTi Criteria and set net-zero targets atthe same time, offering a streamlined version of our services with results delivered within 60business days of contract signature.Near-term science-based target submission Net-zero target submission – PackageRate 14,500Companies who wish to align with the Net-Zero Standard and are submitting new near-termand net-zero targets to the SBTi for the first time have the option to submit together at adiscounted rate. Both submissions undergo a separate, robust technical review conducted byour team of experts as detailed above and results are delivered within 60 business days ofcontract signature.Net-zero target submission - Small- and medium-sized enterprises (SMEs) 1,000The SBTi has a streamlined net-zero route for small and medium-sized enterprises (SMEs),defined as a non-subsidiary, independent company which employs fewer than 500employees. Note that Financial Institutions and Oil & Gas companies are not eligible for thisroute. This service enables SMEs to bypass the standard net-zero target validation processand immediately set a target by choosing from one of several predefined target options in theSME science-based net-zero target setting form. Encouraging more SMEs to set targets is animportant part of the SBTi’s strategy, thus SMEs will be able to submit net-zero targets at thesame price as a normal SME target validation service. Net-zero targets submitted through thededicated route for SMEs will be automatically approved and posted to the SBTi website,pending due diligence review and payment.Near-term science-based target submission and/or Net-zero target submission –Exempted 0Companies headquartered in developing countries and economies in transition, as defined bythe United Nations Secretariat’s Department of Economic and Social Affairs listed in Table Band C on page 141-142, will have the option to request a waiver for their target submission fee.A waiver option for these companies will be applicable for both the near-term and net-zerotarget validation services. We encourage large, multinational companies based in developingPlease note that the pricing of services are subject to change based on demand and resource requirements.SBTi Target Validation Service -INF-001 Version 1.0 December .org
countries to pay the normal service fee to ensure the exemption can be reserved for companiesthat would benefit most from the waiver.Financial institution target submission 14,500This service is specifically adopted for robust review of targets submitted by financialinstitutions (FIs). FIs differ from other economic sectors by providing finance and otherservices to the companies that are responsible for reducing GHG emissions, rather thanexercising direct control over GHG emission reductions. After an extended stakeholderengagement process, the SBTi developed three methods that link FI’s investment and lendingportfolios with climate stabilization pathways, each of which can be used for one or more assetclasses. In developing these specific resources, the SBTi aims to encourage rapid adoptionof SBTs by the financial sector. For more information on how to set FI targets, please refer tothe SBTi Financial Institutions webpage. The financial institutions target submission servicewill be available beginning Q1 of 2022.Please note that the pricing of services are subject to change based on demand and resource requirements.SBTi Target Validation Service -INF-001 Version 1.0 December .org
their targets with our new minimum ambition level of 1.5 C or to update or edit previously approved targets in other ways. The SBTi has combined the "resubmission" and "voluntary ambition update" services into a single service called the "target update service" and is a discounted service from the near-term submission service.
