Science Based Targets initiative

London Climate Action Week 2026 is likely to be remembered, above all, for the extreme heat. A record-breaking heatwave sent temperatures across Western Europe five to twelve degrees above seasonal averages, and the UK recorded its hottest-ever June, reaching 37.3°C. This followed only weeks after another severe heatwave had broken all-time May records. Europe’s worst heatwave was a pointed reminder of why the work of corporate climate action matters.

Version 2.0 is relevant for: Companies preparing to renew existing targets in 2027 Companies planning target submissions from Q1 2027 Companies seeking to understand future requirements Companies planning to set, update, or renew targets in 2026 are strongly encouraged to prepare them for submission at the earliest opportunity using the Corporate Net-Zero Standard V1.3.1—the most credible and robust framework for net-zero target setting available.

The Corporate Net-Zero Standard Version 2.0 is now here. Companies with existing validated targets do not need to set new ones, and those currently setting or renewing targets can proceed without delay. This is not a choice between old and new. It is an invitation to grow with the SBTi and access more benefits over time, whether you are setting targets for the first time or already well into your journey.

The Science Based Targets initiative has published the Corporate Net-Zero Standard V2.0— a major step forward for corporate climate action, and an evolution of the widely adopted global benchmark for business leadership on climate transition. Join this launch webinar to hear directly from SBTi experts about the updated Standard, the key elements introduced in Version 2.0, and what it means for companies setting and implementing science-based targets.

The Science Based Targets initiative (SBTi) has released Version 2.0 of its Corporate Net-Zero Standard, the most comprehensive framework for corporate climate action to date. A new era for corporate climate action Companies today are operating against a backdrop of increasing climate risk, market volatility, and evolving regulation. Many businesses are no longer asking whether they should act on climate, but how to make progress in a way that’s credible and commercially relevant.

Today, the Science Based Targets initiative (SBTi) has published its Corporate Net-Zero Standard Version 2.0, marking an evolution for corporate climate action and underscoring the SBTi’s strategic shift as an implementation partner. As the most comprehensive SBTi Standard to date, it is designed to drive real-world business transformation by embedding science-based targets into core decision-making across operations, value chains and capital allocation.

The Science Based Targets initiative has published the Corporate Net-Zero Standard V2.0— a major step forward for corporate climate action, and an evolution of the widely adopted global benchmark for business leadership on climate transition. The Ambition to Action Launch Event event will convene C-suite leaders from the private sector, together with experts from civil society and the wider climate ecosystem.

Over the past decade, the SBTi has established science-based targets as the global benchmark for credible corporate climate action—supporting a growing movement of more than 13,000 companies worldwide. As more companies move from target-setting to implementation, the context for business is evolving. Companies face rising costs, shifting demand, regulatory uncertainty, and increasing expectations—making transition risk a core business consideration.

Over the past decade, the SBTi has established science-based targets as the global benchmark for credible corporate climate action. What began with an ambition to engage 100 companies has grown into a global movement of more than 13,000 companies that have set or committed to setting science-based targets, across sectors and regions. As corporate climate ambition scales, the challenge is evolving—from setting targets to delivering them.

Financial institutions have a transformative role in the global economy’s transition to net-zero. They can unleash transition finance and deliver real-world emissions reductions through their lending, investment, and underwriting decision-making and engagement, while mobilizing capital toward critical climate solutions.