From validation to verification: What does the SBTi Version 2 draft mean for the GHG assurance of companies?

The SBTi’s Corporate Net-Zero Standard V2 draft marks a shift from validation to verification.

Now that over 10,000 companies have validated science-based targets, climate action has entered a new phase. The release of the draft V2, and its emphasis on assurance, suggests that this phase will focus on reliable and verifiable decarbonisation pathways.

This article explains how you can meet the growing need for assurance with the help of BIP.Verco’s certified experts. You can find a checklist to help you evaluate your readiness here.

What’s changing under the SBTi V2 draft regarding third-party assurance?

SBTi V2 places new focus on:

accountability;
clearer categorisation of companies (Category A and B);
tighter Scope 3 expectations; and
enhanced ongoing reporting obligations.

When does SBTi V2 become mandatory?

From January 2028, all companies must use SBTi V2 for science‑based target setting and validation.

Which companies must assure their data from 2028?

Under the V2 standard draft, Category A companies must have externally assured GHG inventories and progress disclosures to maintain credibility. This aligns with broader regulatory developments such as the Corporate Sustainability Reporting Directive (CSRD), which requires sustainability information to be assured.

What is a Category A company?

Category A includes all large companies globally, and all medium-sized companies headquartered in high-income countries.

What does the SBTi Standard V2 draft require regarding third-party assurance?

At a minimum, Category A companies must obtain limited assurance for their GHG emissions inventory and the data substantiating their progress toward targets. This assurance must cover Scope 1, Scope 2, and significant Scope 3 emissions categories. It should also cover other relevant target-setting metrics where feasible. It is required for both base-year emissions (to prevent manipulative baselines) and target/progress year emissions (to verify results).

Requirements

Assurance must be performed in accordance with an internationally recognised standard. The CDP list of accepted verification standards can be taken as the benchmark.

Category A companies must publicly report on the following within six months of completing the third-party base year assurance:

The time period covered and the scope, including boundaries and specific exclusions;
the methodology and standards used by the assurance provider;
the type of assurance and any assumptions or data limitations; and
a summary of findings, including any recommendations provided by the auditor.

What challenges will companies face?

Organisational readiness gaps

Many companies built GHG inventories for target setting, not for audit‑level scrutiny. Therefore, they might encounter:

missing or inconsistent data collection processes;
limited documentation of methodologies;
Scope 3 categories reliant on proxies or estimates;
a lack of internal audit culture; and/or
insufficient resources to support first‑time assurance.

Unclear assurance drivers

Companies now need to spend time clarifying:

whether assurance is required for regulation, investors, internal governance, or SBTi alone;
whether to aim for limited or reasonable assurance; and
how assurance can provide broader organisational benefits (e.g. process improvement or risk mitigation).

Public disclosure risks

Publishing assurance findings carries reputational risks, especially where significant data gaps are uncovered. Organisations must ensure internal review and quality control before the assurance process begins.

How should companies prepare for SBTi V2?

Companies with validated targets (and those planning submission under V2) should begin preparations as early as possible. We recommend the following steps:

Look out for the publication of the full Standard, which is expected later in 2026.
Identify any updates you need to make to your GHG inventory or progress reporting requirements in line with V2.
Review any current data gaps and make improvements to methodologies in advance of assurance.
Strengthen your data governance and internal controls, making sure everything is supported by traceable documentation that clearly evidences processes, responsibilities and data flows.

A simple checklist makes everything easier, so we’ve created a structured series of questions for you to answer. Doing so will make sure you’re prepared for when assurance becomes mandatory.

Download the SBTi V2 assurance readiness checklist

How BIP.Verco can support you

Our specialists know the GHG assurance landscape inside out – our team includes licensed assurance providers and SBTi Certified Experts. Therefore, BIP.Verco is ideally placed to be your reliable SBTi V2 assurance readiness partner, helping you build credibility before scrutiny arrives.

If you do not currently meet the SBTi assurance requirements, we recommend pre-assurance as an “assurance-readiness” check. This is a less formal process that does not need to published. Instead, it is used internally to highlight any existing data or process gaps and provide an opportunity to address any highlighted recommendations in advance of more formal assurance.

Find out more about pre-assurance

We also offer third-party assurance of GHG inventories and progress against science-based targets, conducted in accordance with internationally recognised verification and assurance standards such as ISO 14064-3, AA1000AS, and ISSA 5000.

Find out more about assurance

Beyond assurance, BIP.Verco can help with GHG inventories, science‑based target development, pathway modelling, transition plan design, target submission and more. For a chat about our wider SBT services, please get in touch.