New standard to cut power sector emissions

Businesses are being urged to give their feedback on a new blueprint to help the power sector slash emissions.

The Science Based Targets initiative (SBTi) has released the first draft of its Net-Zero Standard for the power sector which is responsible for nearly 40% of global energy-related emissions.

The SBTi also stressed the sector’s role as an enabler of decarbonisation across other industries positions it for long-term growth in a carbon-constrained economy.

The draft standard is designed to enable companies across the power sector to set near- and long-term science-based targets that are “practical, credible and aligned with what is needed to reach net-zero by 2050 at the latest”.

It said it will help manage transition risks and capture growth opportunities as global demand for low-emission electricity accelerates.

The public consultation is open until November 3.