Participants must set a near-term net zero target covering emission reductions over five to ten years. The Net Zero Standard recognises that rapid, deep cuts to emissions are the most effective and scientifically proven ways to limit global temperature rises.
Companies will also need to set long-term emissions reduction targets of at least 90 to 95% across all three scopes by 2050. Participants are expected to follow a mitigation hierarchy, committing to reducing value chain emissions before mitigating emissions outside of their value chain. Carbon offsetting can only be used to counterbalance any residual emissions that remain after all other measures have been implemented.