SBTi India Tracker 2026 — 249 Validated Indian Companies, 420 Committed
249 Indian companies have SBTi-validated science-based emission-reduction targets; another ~171 are committed but pre-validation, taking total India SBTi engagement to ~420. India ranks 8th globally. This page consolidates the India view from the SBTi public dashboard + Trend Tracker (April 2026), with a sector lens and the V2-mandatory-2028 transition story.
The headline numbers
| Metric | Value (May 2026 — refresh weekly) | Source |
|---|---|---|
| Indian companies with validated SBTi targets | ~250-290 range | SBTi Target Dashboard (live, refreshes weekly) — query directly for exact current value |
| Indian companies with SBTi commitments (validated + committed) | ~400-450 range | SBTi India blog |
| India global rank | 8th | SBTi Trend Tracker (April 2026) — top 8: Japan, UK, US, China, Germany, France, Sweden, India |
| Asia year-on-year growth (validated targets, 2025) | +53% (Asia added 1,216 companies) | SBTi Trend Tracker (April 2026) |
| Global total companies with validated targets (Jan 2026 milestone) | 10,000 | SBTi news (Jan 2026) |
Counts are quoted as ranges because the SBTi Target Dashboard refreshes weekly + the absolute count moves materially between consecutive Trend Tracker editions (the March 2024 SBTi mass-delisting, in which ~239 companies were globally removed for missing the 24-month commitment window, is one example of why point-in-time totals are noisy). For the exact live figure for any specific date, query the SBTi Target Dashboard directly.
The sector lens
Per SBTi-published material, Indian SBTi adoption is led by IT services, followed by industrial conglomerates with diversified operations. The sector groupings below mirror SBTi’s own categorisation; we do not claim individual entity validation status — for any specific company, query the SBTi Target Dashboard directly.
| Sector | Indian SBTi adoption signal | Notable named entities per SBTi-published material |
|---|---|---|
| IT services | Strongest adoption; pioneer Indian sector | Wipro (first Indian IT firm validated, 2018); Infosys, TCS, HCLTech, Tech Mahindra (all SBTi-validated per public disclosures) |
| Cement | Sector-specific validation pathway active | UltraTech Cement (validated near-term targets under the SBTi cement sectoral decarbonisation approach) |
| Steel | India steel sector publicly committed to 25% emissions cut by 2036 | Tata Steel, JSW Steel (SBTi-engaged per public sustainability reports) |
| Power + utilities | Several validated entities; sector-specific pathway available | Per SBTi dashboard query |
| Pharmaceuticals | Growing adoption among listed pharma entities | Cipla, Sun Pharma, Dr Reddy’s, Lupin (per public sustainability reports + dashboard cross-reference) |
| Consumer goods + FMCG | Mature adoption | ITC, Dabur, Mahindra Group, Marico (per public ESG disclosures) |
| Financial institutions | SBTi Financial Institutions Net-Zero Standard applies | HDFC Bank, ICICI Bank, Kotak Mahindra (per public disclosures; FI standard has separate asset-class targets) |
| Textiles + apparel | Sector commitments rising | Per SBTi dashboard query |
Methodology note: SBTi does not publish an India-specific entity list with sector tags. The named entities above are from publicly-disclosed ESG / sustainability reports of those companies cross-referenced with the SBTi Target Dashboard. For each company’s current validation status (Committed / Targets Set / Removed), query the SBTi dashboard directly — it is the only authoritative source and refreshes weekly. BatchWise does not maintain a parallel entity-level database.
The V2 mandatory transition — what happens on 1 January 2028
The SBTi Corporate Net-Zero Standard V2 went through a second public consultation that closed on 12 December 2025 and will be published in final form during 2026. It becomes mandatory for all SBTi target validations on 1 January 2028. Until then (31 December 2027), companies may continue setting targets under V1.3 + Near-Term Criteria V5.3.
Three material changes in V2 directly affect already-validated Indian entities:
- Individual Scope 1 + Scope 2 + per-category Scope 3 target-setting — replacing V1.3’s consolidated approach. Entities will set separate near-term + net-zero targets per scope, and (for Scope 3) per material category.
- Third-party assurance on target progress — V2 introduces an assurance requirement to verify companies are tracking against their validated targets. This is structurally similar to the assurance pattern that BRSR Core already mandates for Indian listed entities — see the BRSR Core Assurance service + ISAE 3410 GHG verification service for the assurance-delivery pattern.
- Mandatory Climate Transition Plan — every V2-validated company must publish and maintain a climate transition plan as part of the validation submission. See the Climate Transition Plan methodology page for the disclosure architecture (TPT + IFRS S2 + ESRS E1-1 + SBTi V2 + BRSR Principle 6 + RBI Climate Risk Framework, in one place).
SBTi has stated it will provide a transition pathway aligning V1-era Scope 3 targets with V2 — preventing duplication of completed work. Indian listed entities with existing SBTi-validated targets should plan for the V2 alignment ahead of 1 January 2028 as part of the same cycle that touches BRSR Core readiness for the Top 1,000 (FY 2026-27 mandate per the BRSR Core Deadline 2027 resource).
India BRSR / CSRD / RBI overlay
An SBTi-validated 1.5°C-aligned target is a strong input to several adjacent reporting regimes Indian entities face:
- SEBI BRSR Principle 6 + BRSR Core — the GHG inventory + target trajectory that SBTi validation establishes maps directly to the BRSR Core GHG Emission Intensity per Revenue attribute + Principle 6 Leadership Indicator on climate commitments.
- EU CSRD ESRS E1-1 (transition plan) — for Indian listed entities with EU subsidiaries above the post-Omnibus thresholds (>1,000 employees + >€450M turnover; see the CSRD Disclosure Framework), an SBTi-validated target is one of the most commonly-disclosed anchors for the mandatory transition-plan disclosure.
- EU CBAM (carbon-border tariff) — an Indian exporter of CBAM-covered goods (steel, cement, aluminium, fertilizers, hydrogen, electricity) with a credible decarbonisation trajectory faces lower future CBAM exposure. Use the CBAM Cost Calculator to model the multi-year cost trajectory under different intensity assumptions.
- RBI Climate Risk Disclosure (Feb 2024 draft) — for scheduled commercial banks + AIFIs + large NBFCs, the RBI framework draws on TCFD architecture (which is now consolidated into IFRS S2) and prescribes transition-plan disclosure. An SBTi Financial Institutions Net-Zero Standard validation directly satisfies the metrics-and-targets pillar.
How to find your company’s status
- Open the SBTi Target Dashboard
- Filter by Region = Asia and Country = India
- Search by company name; status will be one of: Committed, Targets Set, or absent (no SBTi engagement)
- For validated entities, the dashboard shows the target type (Near-term / Net-zero / both), the temperature pathway (1.5°C / well-below-2°C), the validation date, and the target year
- Download the full data as .xls for offline analysis if needed
Refresh cadence
This page is refreshed quarterly. The next planned refresh is at end-Q1 FY 2026-27 (Jun/Jul 2026), when we will update the count + sector breakdown against the then-current SBTi Trend Tracker + Target Dashboard. The slug includes the year (2026) so historical versions can be preserved by URL change when major shifts occur (e.g., post-V2-mandatory January 2028).
Sources
- SBTi Target Dashboard — the live entity-level database; refreshes weekly
- SBTi Trend Tracker (April 2026) — global + regional aggregates, including India statistics
- SBTi India blog — How the SBTi is meeting India’s corporate climate momentum — sector framing + named entity references
- SBTi celebrates 10,000 company validations (Jan 2026) — global milestone context
- SBTi Corporate Net-Zero Standard V2 — second consultation draft (Nov-Dec 2025) — V2 mandatory 1 Jan 2028 + transition pathway
- SBTi Developing the Corporate Net-Zero Standard V2 — V2 timeline + transition pathway
- SBTi Criteria + Recommendations for Near-Term Targets (V5.3) — usable until 31 Dec 2027
Frequently asked questions
How many Indian companies have SBTi-validated targets?
As of May 2026, on the order of 250-290 Indian companies have SBTi-validated science-based targets, with total India SBTi engagement (validated + post-commitment + pre-validation) on the order of 400-450. India is currently ranked 8th globally for SBTi commitments + validations combined per the SBTi Trend Tracker (April 2026). The SBTi Target Dashboard refreshes weekly + is the only authoritative source for the live count — query the dashboard directly for the exact May-2026 figures. The range we quote here reflects (a) the dashboard count moves week-by-week as validations clear the queue, and (b) the March 2024 SBTi mass-delisting (~239 companies globally removed for missing the 24-month commitment window) means India-specific snapshot counts vary materially between consecutive Trend Tracker editions.
Which Indian sectors lead SBTi adoption?
Per SBTi-published material, Indian SBTi adoption is led by IT services (Wipro was the first Indian IT company with validated targets in 2018; Infosys, TCS, HCLTech, Tech Mahindra are also validated), followed by industrial conglomerates, cement (UltraTech Cement holds validated near-term targets under the cement-sector decarbonisation approach), metals + steel (Tata Steel, JSW Steel), power + utilities, pharmaceuticals (Cipla, Dr Reddy’s, Sun Pharma, others), consumer goods (ITC, Dabur, Mahindra Group), and financial institutions (HDFC Bank, ICICI Bank, Kotak Mahindra under the SBTi Financial Institutions Net-Zero Standard). Note that BatchWise does not claim individual entity validation status independently — we point readers at the SBTi Target Dashboard for the live status of any specific company.
What changes for Indian SBTi-validated entities on 1 January 2028?
SBTi Corporate Net-Zero Standard V2 (published 2026 after the second public consultation that closed 12 December 2025) becomes mandatory for all SBTi target validations on 1 January 2028. Targets validated under V1.3 + Near-Term Criteria V5.3 remain usable until 31 December 2027. V2 introduces three material changes: (a) individual Scope 1 + Scope 2 + per-category Scope 3 target-setting (replacing V1.3’s consolidated approach), (b) third-party assurance on target progress, and (c) mandatory Climate Transition Plan publication. The SBTi has committed to providing a transition pathway aligning V1-era Scope 3 targets with V2 so already-validated entities don’t duplicate completed work.
How does SBTi validation interact with SEBI BRSR + BRSR Core?
SEBI BRSR + BRSR Core does not formally require SBTi validation. However, several BRSR elements rely on the same underlying data infrastructure: Principle 6 (Environment) narrative is the natural home for SBTi-validated targets disclosure; the BRSR Core Attribute on GHG Emission Intensity per Revenue (Scope 1 + Scope 2) requires the baseline + trajectory that SBTi validation already establishes; the BRSR Value Chain Verification (top-1,000 listed, phased) draws on Scope 3 + supplier engagement that SBTi V2 makes mandatory. For Indian listed entities preparing for [BRSR Core Assurance](/services/brsr-core-assurance/) at reasonable level, an existing SBTi-validated 1.5°C-aligned target materially reduces the assurance preparation effort because the underlying inventory + governance documentation is already in place.
Is the BatchWise SBTi India tracker a primary data source?
No — the SBTi Target Dashboard at sciencebasedtargets.org/target-dashboard is the only authoritative source for individual entity validation status, and it refreshes weekly. This page consolidates India-specific statistics from the SBTi-published dashboard + April 2026 Trend Tracker into a single India lens with sector framing, BRSR/CSRD overlay, and the V2 mandatory-2028 transition story. We refresh this page quarterly (target: end of each fiscal quarter); the next refresh is targeted at end-Q1 FY 2026-27 (Jun/Jul 2026). For live week-by-week entity-level status, query the SBTi dashboard directly.
What does it cost to validate a science-based target in India?
SBTi target validation fees are published on the SBTi website + are global (not India-specific). The standard corporate validation route is in the USD 5,000-25,000 range depending on company size + target complexity. The dedicated SBTi SME route (introduced in 2024) is materially cheaper — around USD 1,250 as of the most recent SBTi pricing update. To qualify as an SBTi SME, an entity must meet the SBTi’s specific size + sector criteria (emissions cap, sector exclusions for Financial Institutions + Oil & Gas, and financial-size thresholds aligned with CSRD large-undertaking definitions). The exact criteria — including the number of size tests, threshold values, and FLAG-sector handling — have been amended multiple times since the 2024 introduction; consult the current SBTi SME FAQ on the SBTi website for the live criteria before submitting a validation request. We deliberately do not quote the specific size thresholds here because they have moved at least three times in 18 months.
How is "India" defined for the 249 / 420 numbers?
India in the SBTi context refers to entities with their headquartered jurisdiction registered as India in the SBTi Target Dashboard. The headquartered-jurisdiction methodology means a multinational with India HQ counts toward the India tally even if a majority of operations are elsewhere; conversely, an India-incorporated subsidiary of a multinational with non-India HQ counts toward the parent’s home jurisdiction. The SBTi does not publish a separate split for "India-domiciled entities" vs "India-headquartered groups", so the 249/420 numbers should be read as headquartered-jurisdiction = India.