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illuminem summarises for you the essential news of the day. Read the full piece on Trellis or enjoy below:
🗞️ Driving the news: David Kennedy, former EY sustainability partner, has officially assumed his role as CEO of the Science Based Targets initiative (SBTi), urging companies to act decisively on net zero targets amid economic and political headwinds
• Kennedy called for more pragmatic, partnership-based approaches as the SBTi revises its Corporate Net Zero Standard, with a final version expected by late 2026
🔭 The context: The SBTi, a leading global body for validating corporate climate targets, launched a public consultation in March 2025 to update its Corporate Net Zero Standard
• This comes as many companies struggle to meet ambitious 2030 targets due to inflationary pressures, shifting energy policies, and uncertain political climates—particularly in the U.S.
• Kennedy, bringing decades of experience from both government and business, aims to strike a balance between scientific integrity and operational feasibility
🌍 Why it matters for the planet: SBTi’s standards underpin thousands of corporate net zero pledges
• Updating them to reflect real-world challenges—while still holding companies accountable—could improve adoption and credibility
• New features like requiring climate transition action plans and allowing distinct Scope 1 and 2 targets could enable more transparent and achievable decarbonisation pathways
⏭️ What's next: Public feedback on the proposed changes is open until June 1, 2025
• The revised standard is expected to be finalized in late 2026, with a transition process to help companies adjust
• In the meantime, Kennedy stresses that companies should not delay action and assures that SBTi will provide tools to help align current efforts with the future standard
💬 One quote: “We have to be science based, but we can be more pragmatic and more action focused.” – David Kennedy, CEO, SBTi
📈 One stat: The SBTi currently supports over 4,000 companies globally, representing more than one-third of global market capitalization
See on illuminem's Data Hub™ the sustainability performance of EY and its peer: McKinsey and Geoside
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