Financial institutions to stop funding fossil fuels by 2030 under new SBTi standard
“A clear signal that financial support for fossil fuel expansion must come to an end."
The Science Based Targets Initiative has unveiled its new Financial Institutions Net Zero Standard, which aims to guide the financial sector’s alignment with climate goals and requires them to stop funding new fossil fuels by 2030.
The standard is aligned with SBTi’s flagship Corporate Net Zero Standard and other relevant sector-specific standards and guidance in order to support integration into existing risk and investment processes.
