The Science Based Targets Network has released the first science-based targets for nature enabling companies to start taking ambitious and measurable action on both climate and nature.
Over 80 global NGOs and organisations came together with the aim to provide companies with the initial methods, tools and guidance to equip them to holistically assess their environmental impacts, and prepare to set targets to address them, beginning with freshwater and land, alongside climate. The first release of targets for nature also directly supports biodiversity, ensuring that companies contribute to the preservation and restoration of ecosystems.
Net zero is not possible without nature
Erin Billman, Executive Director, SBTN, said: “We have designed the guidance to build on companies’ existing sustainability strategies and have proactively aligned with existing and upcoming standards and frameworks – including the Science Based Targets initiative (SBTi) and the Taskforce on Nature-related Financial Disclosures (TNFD) risk management and disclosure beta framework.
“It also draws on, and aligns with the best available science – including collaborating with the Earth Commission on their work to define a safe and just corridor for humanity, to be published on May 31, 2023. To achieve the optimal balance between scientific rigor and feasibility, the guidance has also been road-tested by over 115 companies from over 25 countries and representing over $4trillion in market capitalisation.
“While climate change has become a key focus of many companies’ sustainability strategies, there is now clear scientific evidence that net zero is not possible without nature.”