The IACPM has submitted a response letter to Science Based Target Initiative (SBTi) consultations on the initial criteria for financial institutions to set science-based net-zero targets as well as the draft fossil fuel finance position paper. (https://sciencebasedtargets.org/net-zero-for-financial-institutions)
The IACPM conducted several working group discussions with member experts in charge of climate strategies and carbon reporting in credit portfolios to assess the feasibility and impact of SBTi proposed criteria for the transition target setting and phase-out at company, project, and portfolio level in the different regions globally.
IACPM members are actively engaged in the net-zero transition and therefore well positioned to highlight challenges and recommendations as outlined in our response letter, for example:
The IACPM fully understands the urgency of the topic and is ready to assist SBTi in further consultations, data collection, or roundtable discussions with banks and/or investors and pension funds, so that SBT frameworks and criteria for FIs’ net-zero standards can be gradually harmonized and implemented at regional level.
Please click here to access the response letter (accessible for IACPM member firms only)