New Guidelines Issued by SBTN for Setting Science-Based Targets on Nature

The concept of science-based targets has gained significant traction among corporations aiming to align their sustainability efforts with global environmental standards. The Science Based Targets Network (SBTN) has been at the forefront, providing detailed guidance to help companies set and achieve science-based targets for nature.

Understanding Science-Based Targets for Nature

Science-based targets for nature are designed to help companies take credible actions toward a nature-positive, net-zero future. The SBTN provides a comprehensive approach to identify, prioritize, and mitigate the environmental impacts of corporate activities. This involves assessing the impacts on nature, setting measurable targets, and implementing strategies to achieve these goals.

Science-based targets for nature, as guided by the Science Based Targets Network, offer a clear framework for companies to align their operational and strategic objectives with environmental sustainability.

These targets are grounded in rigorous scientific principles, ensuring that corporate actions are not only ambitious but also achievable and impactful. By focusing on the critical areas where business activities intersect with environmental health, companies can make significant contributions to global sustainability goals.

This structured approach helps companies transition from incremental improvements to transformative changes that benefit nature and society.

Key Steps in Setting Science-Based Targets

The SBTN framework outlines a five-step process for setting science-based targets for nature:

• Assess Impacts: Companies begin by assessing their impacts on nature. This involves identifying which economic activities generate significant environmental pressures, such as land use changes, water use, and pollutant emissions. In the initial step, companies conduct a thorough assessment of their activities to understand their environmental footprint. This assessment covers various aspects of business operations, from direct impacts like land use and resource extraction to indirect effects through supply chains. By using detailed methodologies and tools provided by the SBTN, companies can gain a comprehensive understanding of their environmental pressures. This step is crucial for setting a baseline and identifying areas that require immediate attention.

• Interpret and Prioritize: The next step involves interpreting the data collected and prioritizing actions based on the severity of environmental impacts and the fragility of the affected ecosystems. Interpreting and prioritizing the data is essential to ensure that efforts are focused on the most critical areas. This involves analyzing the collected data to determine which activities have the most significant impacts on nature and which ecosystems are most vulnerable. Companies then prioritize their actions based on this analysis, ensuring that the most pressing issues are addressed first. This strategic prioritization helps in allocating resources effectively and achieving maximum impact.

• Set Targets: Based on the assessments and prioritizations, companies set specific, measurable targets for reducing their environmental impacts. Setting targets is a pivotal part of the process. Companies use the insights gained from the assessment and prioritization phases to establish clear, science-based targets. These targets are specific, measurable, achievable, relevant, and time-bound (SMART). By setting these targets, companies commit to substantially improving their environmental performance. The SBTN provides detailed guidance on how to set these targets, ensuring they are aligned with scientific benchmarks and global sustainability goals.

• Act: Companies implement strategies and actions to meet the targets, which might involve changes in operational practices, supply chain adjustments, and stakeholder engagement. Implementing strategies to meet the targets involves a range of actions across different areas of the business. This can include adopting new technologies, changing operational practices, and improving supply chain management. Companies may also need to engage with stakeholders, including suppliers, customers, and local communities, to achieve the targets collaboratively. Effective implementation requires a clear plan, dedicated resources, and continuous monitoring to ensure progress.

• Track Progress: Finally, companies track their progress towards achieving the targets and make necessary adjustments to stay on course. Tracking progress is critical to ensure that companies remain on track to meet their science-based targets. This involves regular monitoring and reporting of key performance indicators related to environmental impacts. Companies use this data to assess their progress, identify any deviations from the plan, and make necessary adjustments. The SBTN provides tools and frameworks for tracking progress, ensuring that companies can measure their success and demonstrate their commitment to sustainability.

Recent Developments

The Science Based Targets Network recently released updated guidance to enhance the target-setting process for nature. This updated guidance aims to make the process more accessible and actionable for companies, emphasizing clarity and simple language.

Key highlights include:

• Increased Traceability: Enhanced tools and methodologies to improve traceability in supply chains, particularly for high-impact commodities. The updated guidance includes improved tools for supply chain traceability, which is essential for identifying and mitigating environmental impacts across complex value chains. Enhanced traceability allows companies to pinpoint where their raw materials come from and how they are produced, enabling more accurate assessments and targeted actions. This is particularly important for high-impact commodities that have significant environmental footprints.

• Stakeholder Engagement: Emphasizing the importance of engaging with local stakeholders to ensure equitable and effective implementation of targets. Engaging stakeholders is a crucial component of the updated guidance. By involving local communities, suppliers, and other stakeholders, companies can ensure that their sustainability efforts are inclusive and address the needs and concerns of those affected by their operations. Stakeholder engagement helps build trust, foster collaboration, and enhance the effectiveness of sustainability initiatives. It also ensures that the benefits of sustainable practices are shared equitably.

• Integration with Climate Targets: Recognizing the interconnectedness of climate and nature, the updated guidance encourages companies to align their nature targets with existing climate targets. The updated guidance also highlights the importance of integrating nature and climate targets. Climate change and biodiversity loss are deeply interconnected issues that require coordinated actions. By aligning their nature targets with existing climate targets, companies can create synergistic strategies that address both challenges simultaneously. This integrated approach helps in maximizing the positive impacts on the environment and achieving broader sustainability goals.

Case Studies and Impact

Several companies have already started setting science-based targets for nature, showcasing the feasibility and benefits of this approach. For instance, the Bel Group has leveraged SBTN's guidance to create a resilient food model by deeply understanding their impacts and dependencies on nature. Similarly, GSK has prioritized areas for action and increased traceability and data transparency with their suppliers.

These case studies demonstrate the practical application and positive outcomes of setting science-based targets for nature. The Bel Group, for example, has used the SBTN framework to transform its food production processes, ensuring they are sustainable and resilient. By understanding and addressing their environmental impacts, they have created a model that not only benefits nature but also enhances their business resilience.

GSK's efforts to improve data transparency and traceability have enabled them to make more informed decisions and take targeted actions to reduce their environmental footprint.

The Role of Regulatory Changes

The evolving regulatory landscape is also shaping the adoption of science-based targets. New regulations, such as the EU's Deforestation Regulation, are driving companies to improve their sustainability practices and ensure compliance with stringent environmental standards.

These regulations often require detailed reporting and validation of environmental impacts, making the adoption of science-based targets not just beneficial but necessary for many corporations.

Regulatory changes play a significant role in promoting the adoption of science-based targets. As governments and international bodies implement stricter environmental regulations, companies are compelled to enhance their sustainability efforts. The EU's Deforestation Regulation, for instance, requires companies to ensure that their products do not contribute to deforestation.

This necessitates comprehensive monitoring and reporting of supply chains, aligning with the goals of science-based targets. By complying with these regulations, companies can avoid legal penalties, improve their market standing, and contribute to global environmental goals.

The Future of Corporate Sustainability with Science-Based Targets

Setting science-based targets for nature is an essential step for companies committed to sustainability. The updated guidance from the Science Based Targets Network provides a clear and actionable framework for businesses to follow.

By adopting these targets, companies can contribute to a healthier, more resilient world while unlocking new business opportunities and securing long-term viability. The integration of science-based targets into corporate strategies is not just a commitment to the environment but a strategic move toward sustainable growth and resilience.

In conclusion, science-based targets for nature represent a powerful tool for companies to enhance their sustainability practices. The guidance provided by the Science Based Targets Network offers a detailed and practical approach to setting and achieving these targets.

By following this framework, companies can make meaningful contributions to global environmental goals, improve their operational efficiency, and strengthen their resilience to future challenges. The adoption of science-based targets is a strategic investment in the future, benefiting both businesses and the planet.

For more detailed information and resources, companies can refer to the SBTN's corporate manual and technical guidance available on their website.

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