The Science Based Targets initiative (SBTi) announced the release of its initial draft of its Power Sector Net-Zero Standard, aimed at enabling companies across the power sector, including those involved in power generation, transmission and distribution, and electricity storage, trade and retail, to set near- and long-term goals aligned with achieving net zero by 2050.
Among the key new net zero target setting criteria proposed in the draft standard is a requirement for companies to put in place a plan to phase out unabated fossil fuel capacity, and to stop investing in unabated fossil fuel capacity.
