Changes to SBTi science-based target submission process effective from 1st May 2023
From the 1st May 2023, companies must use new versions of the SBTi near-term and net-zero submission forms that were published in March 2023.
The main change is that they ask additional information regarding FLAG (Forest, Land, and Agriculture) activities. This is to determine whether a company will need to set a separate FLAG target or not. This in turn depends on the company sector and whether FLAG emissions exceed 20% of the overall footprint.
FLAG targets do not apply to companies classified as a Small & Medium Enterprise (SME).