Belfius to Leave Science Based Targets Initiative in Favor of Its Own Sustainability Approach

Belfius has announced that it will withdraw from the Science Based Targets Initiative (SBTi) as reported by Le Soir on Monday. The initiative is a global reference for companies seeking to align themselves with the climate goals established at the Paris summit in 2015.

In its 2021 annual report, Belfius stated that it had joined SBTi with the intention of establishing emissions reduction targets in accordance with the Paris agreement on climate. However, in its 2022 annual report, Belfius reiterated its commitment to SBTi. Despite this, the bank has now concluded its involvement with SBTi and is instead focusing on developing its own method for limiting CO₂ emissions.

Belfius’ management is emphasizing the importance of supporting a just transition and paying particular attention to social impact in this new approach. This decision comes after careful consideration and analysis, and reflects Belfius’ ongoing commitment to combating climate change and creating a more sustainable future for all.