Near-term science-based target submission – Small-and medium-sized enterprises (SMEs): $1,000Ī streamlined route for small and medium-sized enterprises (SMEs), defined as a non-subsidiary, independent company which employs fewer than 500 employees. The service offers the same comprehensive review performed in the near-term submission service and will also include a comprehensive target validation report. The target update service is a streamlined process developed for companies who wish to align their targets with our new minimum ambition level of 1.5☌ or to update or edit previously approved targets in other ways. This service also includes a second submission at no additional cost for validations that are not accepted and are re-submitted within six months.Ī combination and improvement of the previous “resubmission” and “voluntary ambition update” services. The near-term science-based target submission service is a robust technical review conducted by our team of experts. Near-term science-based target submission: $9,500 On February 1 2022, a new fee structure for validations came into effect. The standard validation service includes a second assessment for no additional charge within six months of the first assessment. If targets are not approved, companies should review the feedback and resubmit targets as soon as they are able. Please note that the validation service closes each year from December into January, and therefore halts validation activities during this time. Once signed, the SBTi will assess the submitted targets and communicate its decision within 30 business days of contract execution for companies, or 60 business days for financial institutions. Once a target submission passes the initial screening, companies will be asked to sign the target validation service contract. Targets submitted to the SBTi first go through an initial screening to ensure basic criteria are met. After sending a commitment letter, organizations have 24 months to submit their target.
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