A major blindspot is the fact that SBTi does not take into account new companies with their share of emissions coming into existence in the future. In SBTi’s framework, existing companies are allocated a share of the carbon budget without leaving any room for new players, some of whom might be more efficient or even working in the decarbonisation space like solar technologies. This further entrenches fossil fuel developments by existing companies and also raises questions about equity.
New firms could be better than incumbents as emissions are ring fenced for incumbents