Standards & verification · 9 October 2026
SBTi keeps financial institutions’ near-term target option available without an end date
SBTi says financial institutions can continue using its Near-Term Criteria. Five-year review guidance and net-zero target-setting resources have also been updated.
The Science Based Targets initiative (SBTi) announced on 8 October 2026 that financial institutions can continue setting near-term targets under its Financial Institutions Near-Term Criteria. Both these criteria and the Financial Institutions Net-Zero Standard will remain available without a specific end date. [Source](https://sciencebasedtargets.org/news/financial-institutions-near-term-criteria-to-continue-without-end-date)
Continuity for near-term targets
SBTi says the decision responds to company feedback and maintains alignment with its broader framework. Allowing financial institutions to set near-term-only targets mirrors the new target structure in Corporate Net-Zero Standard Version 2.0. According to the announcement, continued availability provides greater certainty that institutions’ targets will remain valid throughout their target cycle. Previous announcements had indicated that the criteria’s future would be considered in 2027; the new announcement sets no specific end date. [Source](https://sciencebasedtargets.org/news/financial-institutions-near-term-criteria-to-continue-without-end-date)
Official source: Science Based Targets initiative (SBTi) ↗Five-year reviews do not automatically require new targets
The Mandatory Five-Year Review Guidance has been updated to clarify financial institutions’ target-cycle review timelines, which were previously not detailed. SBTi notes that the first cohorts with validated targets are approaching the end of their target cycles. A mandatory five-year review does not necessarily require targets to change: it provides a process for assessing them against applicable SBTi requirements and determining whether an update is needed. Targets that still meet the applicable criteria do not need updating through that review. [Source](https://sciencebasedtargets.org/news/financial-institutions-near-term-criteria-to-continue-without-end-date)
Official source: Science Based Targets initiative (SBTi) ↗Insurance and methodology resources refreshed
SBTi Academy has released four finance-specific learning modules, covering topics from finance’s role in climate action to practical application of target-setting frameworks. Two webinar recordings addressing the Explanatory Note for Insurance Underwriting are also available. The net-zero standard’s FAQs now incorporate stakeholder feedback and additional guidance for insurance underwriting portfolios. Its Implementation List has been updated with the latest eligible methodology versions, taxonomies and general language clarifications. [Source](https://sciencebasedtargets.org/news/financial-institutions-near-term-criteria-to-continue-without-end-date)
Official source: Science Based Targets initiative (SBTi) ↗Two tool calculations temporarily paused
The Financial Institutions Net-Zero Target-Setting Tool temporarily pauses calculations of technology share targets for the power sector and emissions intensity reduction targets for the automotive sector. The pause awaits finalization of the respective SBTi Sector Standards. Methods and tool documentation has also been revised to add specifications on the Benchmark Divergence Methodology and reflect the tool changes. According to the announcement, more than 180 financial institutions have set validated science-based targets; around a third are banks and a further quarter are private equity firms. [Source](https://sciencebasedtargets.org/news/financial-institutions-near-term-criteria-to-continue-without-end-date)
Official source: Science Based Targets initiative (SBTi) ↗Related news
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