ACCA has warned that companies could face additional administrative burdens as they move to comply with revised guidance on setting net-zero targets.
The accountancy body said the transition from the Science Based Targets initiative (SBTi) Corporate Net-Zero Standard version one to version two risked increasing complexity for businesses already working towards near-term and 2030 climate goals.
ACCA said it was concerned about the workload involved in adopting the updated standard, despite acknowledging that the changes were intended to strengthen climate ambition and improve environmental outcomes.
The organisation also said the revised framework could better reflect the needs of service-based companies, although it recognised that aligning all emissions scopes to 1.5 degrees – previously 2 degrees for Scope 3 emissions – would improve comparability across sectors.
ACCA said it continued to support science-based approaches to net-zero target setting and noted that its own net-zero targets had been independently verified by SBTi.
Jessica Bingham, global sustainability lead for strategy at ACCA, said there was still uncertainty for organisations navigating the changes: “Despite the issuance of transition guidance, with 2030 and near-term target deadlines in sight, there is a level of uncertainty around how organisations will navigate these changes. However, overall, we believe the changes to the standard demonstrate a desire to continuously improve and show commitment to environmental sustainability.”
Maggie McGhee, executive director of strategy and governance at ACCA, said the body remained focused on cutting emissions rather than relying on offsets. She said: “Consistent with ACCA’s focus on decarbonisation, we recommend that criteria should continue to emphasise emissions reduction pathways rather than reliance on removals or offset mechanisms. As the new limitations on carbon credits and emissions offsetting help to encourage real change.”
ACCA said it supported greater interoperability between the SBTi standard and global reporting frameworks to improve consistency in climate-related disclosures, and added that it would welcome further dialogue as the revised standard is implemented.
