The Science Based Targets Initiative (SBTi) has released the second draft of its updated Corporate Net-Zero Standard, marking the first major revision in more than four years and introducing significant new guidance for professional service providers (PSPs).
The second public consultation window is now open until 12 December, and we encourage stakeholders to submit responses using the guidance developed by the Oxford Net Zero Serviced Emissions Hub.
Earlier this spring, during the first consultation window, we submitted public consultation responses encouraging SBTi to consider changes to their standard that would enable professional service providers to set targets addressing not only their operational emissions, but also the wider impact of their advice on clients.
What’s new in the second draft
The updated draft reflects meaningful progress toward recognising the broader climate impact of professional services. Key developments include:
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Expanded recognition of PSP activities.
For the first time, SBTi names “legal, consulting, PR/advertising, data/IT, assurance, architecture and IP services” as activities that can “support fossil fuel extraction, processing, distribution, marketing, sales or expansion” (Table A.2, p. 66). Previous versions listed only a narrow set of services, such as transport. -
Stronger expectations for target-setting.
The draft encourages PSPs to set revenue phase-out targets for services linked to fossil fuel activities (C18.5, p. 17) or to develop sales-alignment plans that grow the share of net-zero-aligned services to 100% by 2050, with 5-year milestones. -
Need for clearer guidance on lobbying and advocacy.
Clause R1.2 states that policy engagement and advocacy should align with net-zero commitments for target-setting entities, but the draft does not yet specify how this applies when PSPs provide lobbying or advocacy services to their clients that result in outcomes misaligned to net zero.
SBTi is a vital standard, covering 41% of the global economy by market capitalisation. The final shape of this standard will have far-reaching implications for climate accountability across sectors.
Public consultation now open
The second public consultation is now open and will run until 12 December. Broad, constructive feedback will be essential to maintaining ambition in the final standard and ensuring that PSP guidance reflects the areas where professional services can exert the greatest influence.
Join an upcoming community call
To support stakeholders in navigating the consultation, the Oxford Net Zero Serviced Emissions Hub is hosting two open community calls. These one-hour sessions will walk participants through the draft, the submission process, and key areas where further refinement could strengthen integrity and impact for professional services providers.
Upcoming calls:
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1 December — 09:30–10:30 MT / 11:30–12:30 ET / 16:30–17:30 GMT
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10 December — 09:30–10:30 MT / 11:30–12:30 ET / 16:30–17:30 GMT
RSVP via Oxford Net Zero’s webform to receive a calendar invite, recording and written guidance. Participants will also receive materials to help complete their submission after the call.
Read more about the Serviced Emissions Hub.
Photo by Lauris Rozentals on Unsplash.
