Creating formaldehyde free phenolic resin systems especially for indoor application is a challenging research question. We are looking for various possibilities.
Also novolak has the same problem. Commonly it is crosslinked with hexamethylenetetramine which is also a formaldehyde derivative. There are some approaches to harden novolak with 5-hydroxymethylfurfural or directly with glucose which forms 5-hydroxymethylfurfural in situ. Perhaps also glyoxal can be used to harden novolaks. Furthermore hardening of novolaks is possible with isocyanates or epoxides, but this change completely the character of the thermoset.
Shelf life is the time of storage until the viscosity becomes to high. I do not know the exact definition which increase of viscosity can be tolerated. The viscosity is increased by self-curing at storage temperature.