SBTi Corporate Net-Zero Standard V2 Explained | What Changes and When

SBTi's Corporate Net-Zero Standard V2 explained by SBTi directly: what changed from V1, the 2027 and 2028 deadlines, and how to decide which version to submit under. Recorded live by The Overview Effect with Maria [SURNAME], Europe Engagement Manager at the Science Based Targets initiative. V2 was published in June 2026. Validations open on 1 February 2027, and from 1 February 2028 it becomes mandatory. Through 2027 companies can choose between V1 and V2, and existing validated targets stay valid. So the real question for most sustainability teams right now is which version to submit under, and what to start preparing either way. In this session Maria walks through the standard chapter by chapter: the new five-year target cycle, the base year rule, scope 1, 2 and 3 target setting, the implementation hierarchy, the integrity criteria for market instruments, and the three phases of ongoing emissions responsibility. Olivier Benz then covers what it means in practice, including the cases where staying on V1 is the better call. CHAPTERS 00:00 Waiting to start 01:46 Welcome and how the session works 03:34 Olivier Benz, The Overview Effect 04:56 Maria at SBTi 05:23 V2 was published in June 05:50 Commitment is not the hardest part, delivery is 06:02 What SBTi does 06:54 12,000+ companies and 40% of global market capitalisation 07:41 The business case: 9 out of 10 report a net positive impact 08:34 How V2 was developed: 1,770 survey responses, 320 pilot companies 09:26 The dates: validations open 1 Feb 2027, mandatory 1 Feb 2028 10:24 Near-term criteria now live inside the Net-Zero Standard 10:52 Poll result: over half the room hadn't read the standard 11:27 What stayed the same, and what is new 12:37 The new five-year target cycle and the six chapters 13:14 Assurance, and what best efforts means 14:06 The target base year, and why it resets every cycle 15:25 Category A and B: what applies in Western Europe 15:53 Scope 1 target setting: three methods 16:19 Scope 2: absolute reduction or low carbon electricity 16:48 What counts as low carbon: 0.48 gCO2 per kWh 17:09 The 20% electricity growth safeguard 17:39 Scope 3: the new 5% significance boundary 18:12 Alignment targets, and the problem they solve 20:49 Q: how do you set targets when the company is growing fast? 23:12 The implementation hierarchy: four levels, in order 26:21 Market instruments: near, new and now 27:38 Q: hourly matching, and what qualifies as low carbon electricity 29:34 The hierarchy in practice across scopes 1, 2 and 3 30:48 Reporting, and the new end-of-cycle assessment 33:09 Ongoing emissions responsibility: three phases to 2035 and beyond 34:48 What SBTi is publishing next, and when 36:04 Olivier: which version should you submit under? 37:56 When an old base year pushes you towards V1 39:10 What a validation process actually looks like 41:22 Poll result: budget, capacity and data are the biggest barriers 41:52 Q&A: suppliers, traders and tier 2 43:33 Q&A: sector and commodity pathways 46:48 Q&A: what validation involves, and how long it takes 49:04 Q&A: the most recent base year, and whether it punishes front runners 51:09 Close SPEAKERS Maria Rioja, Europe Engagement Manager at the Science Based Targets initiative (SBTi). Olivier Benz, co-founder of The Overview Effect. Specialises in carbon accounting, greenhouse gas inventories and SBTi target setting and validation, across near-term, net-zero, buildings and financial institutions. LINKS SBTi Corporate Net-Zero Standard: https://sciencebasedtargets.org The Overview Effect: https://theovervieweffect.nl Download our SBTi V2 guide: https://theovervieweffect.nl/guide-sb... SBTi sets the standard and does not endorse any consultancy. This recording is shared with their permission.