Target tracker

Rederiet Isafold A/S has completed a materiality assessment and prioritization of its ocean impacts in its direct operations as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

Rederiet Isafold A/S has completed a materiality assessment and prioritization of its ocean impacts in its direct operations as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

By 2028, Rederiet Isafold A/S will implement Type 42 Bluestream pelagic controllable trawldoors in its Sandeel and Sprat fisheries* to minimize seabed interaction in the target fishing ICES area 4B, compared to a 2025 baseline.

*Trawl doors with fully controllable hydraulic foils will be used in all of the above fisheries with a risk of bottom contact.

Pathway: Operations
Value chain segment: Direct operations

Stock/species/site:
1. Sandeel (Ammodytes marinus), ICES Area 4B (North sea)
2. Sprat (Sprattus sprattus), ICES Area 4B (North sea)

Rederiet Isafold A/S will engage* in the Ocean Data Network (ODN) and Fishing Vessel Observing Network (FVON) in 2026 to improve the understanding on how hydrographic conditions are changing at particularly valuable habitats, spawning grounds, and nursery grounds relevant to Sandeel and Sprat fisheries by 2028 compared to 2025.

* Examples of Isafold engagement is their collaboration with scientific institutions and ICES member institutions in an Ocean Data Network (ODN) and Fishing Vessel Ocean Observing Network (FVON) to contribute with data to produce high resolution models in the North Sea.

Pathway: Engagement
Value chain segment: Direct operations

Stock/species/site:
1. Sandeel (Ammodytes marinus), ICES Area 4B (North sea)
2. Sprat (Sprattus sprattus), ICES Area 4B (North sea)

Initiative’s name: Ocean data initiative
Contribution type: Financial; Operational; Scientific

By 2029, Rederiet Isafold A/S will implement gear improvements and operational avoidance to reduce risk of negative impacts to Harbor Seals, Grey Seals and Harbor Porpoise compared to a 2026 baseline in Sandeel, Sprat and Herring fisheries in ICES area 4B.

Pathway: Operations
Value chain segment: Direct operations

Stock/species/site:
1. Sandeel (Ammodytes marinus), ICES Area 4B (North sea)
2. Sprat (Sprattus sprattus), ICES Area 4B (North sea)
3. Herring (Clupea harengus), ICES Area 4B (North sea)

Isafold will engage in the Optifish project from (2026) to improve the evidence base and management measures for ETP species in the Sandeel, Sprat and Herring fisheries in ICES area 4B, between 2026 and 2029.

Pathway: Engagement
Value chain segment: Direct operations

Stock/species/site:
1. Sandeel (Ammodytes marinus), ICES Area 4B (North sea)
2. Sprat (Sprattus sprattus), ICES Area 4B (North sea)
3. Herring (Clupea harengus), ICES Area 4B (North sea)

Initiative’s name: Optifish
Contribution type: Financial; Operational; Scientific

Bel Group has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.0.

Bel Group has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.0.

Coca-Cola HBC AG has completed a materiality assessment and prioritization of its freshwater impacts in its direct operations as part of the SBTN framework, using the technical guidance in Steps 1 and 2 v1.2.

Coca-Cola HBC AG has completed a materiality assessment and prioritization of its freshwater impacts in its direct operations as part of the SBTN framework, using the technical guidance in Steps 1 and 2 v1.2.

Ørsted A/S has completed a materiality assessment of its impacts on nature in its direct operations in accordance with the SBTN framework, applying Step 1 v1.1.

“Terna Rete Italia S.p.A. (TRI) has completed a materiality assessment and prioritization of its impacts on nature in its direct operations* as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

*As the company does not procure production inputs, the assessment focuses entirely on direct operations per SBTN guidelines.”

“Terna Rete Italia S.p.A. (TRI) has completed a materiality assessment and prioritization of its impacts on nature in its direct operations* as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

*As the company does not procure production inputs, the assessment focuses entirely on direct operations per SBTN guidelines.”

Musholm A/S has completed a materiality assessment and prioritization of its ocean impacts as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

Musholm A/S has completed a materiality assessment and prioritization of its ocean impacts as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

Musholm A/S will engage in the Supporting Sustainable Forage Fisheries Initiative, from 2026 to reduce demand for wild fish in fish feed, to reduce overexploitation of Anchoveta (Anchoveta Zona Centro-Norte, Atacama–Coquimbo), Capelin (Subareas 5 and 14 and in Division 2.a west of 05°00’W – Iceland and Faroes grounds, East Greenland, Jan Mayen area), Sandeel (Divisions 4.b and 4.c, Sandeel Area 1r – central and southern North Sea, Dogger Bank), Pacific Chub Mackarel (Jurel del Pacífico Sur) and Jack Mackarel (South Pacific -SPRFMO Convention Area) by 2031 as compared to a 2026 baseline.

Pathway: Engagement
Value chain segment: Upstream

Stock/species/site:
1. Anchoveta (Engraulis ringens), Zona Centro-Norte (Atacama–Coquimbo)
2. Capelin (Mallotus villosus), subareas 5 and 14 and in Division 2.a west of 05°00’W (Iceland and Faroes grounds, East Greenland, Jan Mayen area)
3. Sandeel (Ammodytes spp.), divisions 4.b and 4.c, Sandeel Area 1r (central and southern North Sea, Dogger Bank)
4. Pacific chub mackerel (Scomber japonicus), jurel del Pacífico Sur
5. Jack Mackerel (Trachurus murphyi), South Pacific (Chile), FAO 87

Initiative’s name: Supporting sustainable forage fisheries initiative
Contribution type: financial; operational

By 2029, Musholm A/S will reduce its sourcing of Blue Whiting derived marine ingredients used in fish feed from ICES subareas 1 to 9, 12 and 14 by 52.94% compared to a 2025 baseline.

Pathway: Reduce
Value chain segment: Upstream

Stock/species/site:
1. Blue Whiting (Micromesistius poutassou), ICES subareas 1–9, 12, and 14

Musholm A/S will engage in the Blue Whiting Initiative, from 2026 to reduce the overexploitation of Blue Whiting derived marine ingredients in its supply chain (subareas 1–9, 12, and 14 – Northeast Atlantic and adjacent waters) by 2029 as compared to a 2026 baseline.

Pathway: Engagement
Value chain segment: Upstream

Stock/species/site:
1. Blue Whiting (Micromesistius poutassou), ICES subareas 1–9, 12, and 14 – Northeast Atlantic and adjacent waters

Initiative’s name: Blue Whiting initiative
Contribution type: Financial; Operational

By 2031, Musholm A/S will cap its sourcing of Herring-derived marine ingredients in fish feed from ICES Subarea 4 and in Divisions 3.a and 7.d; autumn spawners (North Sea, Skagerrak, Kattegat, eastern English Channel) compared to a 2023 baseline.

Pathway: Cap
Value chain segment: Upstream

Stock/species/site:
1. Herring (Clupea harengus), ICES subareas Subarea 4 and in divisions 3.a and 7.d; autumn spawners (North Sea, Skagerrak, Kattegat, eastern English Channel)

By 2029, Musholm A/S will cap its sourcing of Norway Pout-derived marine ingredients in fish feed from ICES subareas subarea 4 and in Division 3.a (North Sea, Skagerrak, Kattegat) compared to a 2024 baseline.

Pathway: Cap
Value chain segment: Upstream

Stock/species/site:
1. Norway Pout (Trisopterus esmarkii), ICES subareas subarea 4 and in Division 3.a (North Sea, Skagerrak, Kattegat)

By 2028, Musholm A/S will cap its sourcing of Sprat-derived marine ingredients in fish feed from ICES subareas Division 3.a and Subarea 4 (Skagerrak, Kattegat, North Sea) compared to a 2024 baseline.

Pathway: Cap
Value chain segment: Upstream

Stock/species/site: Sprat (Sprattus sprattus), ICES subareas Division 3.a and Subarea 4 (Skagerrak, Kattegat, North Sea)

Musholm A/S will engage in the Herring, Norway Pout and Sprat Initiative from 2026 to reduce overexploitation of Herring (Subarea 4 and in divisions 3.a and 7.d; autumn spawners – North Sea, Skagerrak, Kattegat, eastern English Channel); Norway Pout (Subarea 4 and in Division 3.a – North Sea, Skagerrak, Kattegat); and Sprat (Division 3.a and Subarea 4 – Skagerrak, Kattegat, North Sea) in its supply chains by 2031 as compared to a 2026 baseline.

Pathway: Engagement
Value chain segment: Upstream

Stock/species/site:
1. Herring (Clupea harengus), ICES subareas Subarea 4 and in divisions 3.a and 7.d; autumn spawners (North Sea, Skagerrak, Kattegat, eastern English Channel)
2. Norway Pout (Trisopterus esmarkii), ICES subareas subarea 4 and in Division 3.a (North Sea, Skagerrak, Kattegat)
3. Sprat (Sprattus sprattus), ICES subareas Division 3.a and Subarea 4 (Skagerrak, Kattegat, North Sea)

Initiative’s name: Herring, Norway Pout and Sprat Initiative
Contribution type: Financial; Operational

Musholm A/S will engage in Forage Fish Dependency Ratio (FFDR) Improvement Initiative from 2026 to increase use of trimmings, by-products, and alternative protein sources in feed formulation and sourcing practices by 2031 compared to a 2026 baseline.

Note: To measure the impact of these measures across all their marine ingredients, Musholm will use the Fish-In Fish-Out (FIFO) ratio and Forage Fish Dependency Ratio (FFDR) to be monitored and disclosed annually using BioMar’s customised sustainability reporting and the Blue Food Performance FIFO tool.

Pathway: Engagement
Value chain segment: Upstream

Stock/species/site:
1. All marine ingredients sourced in feeds supplying Musholm West

Initiative’s name: Forage Fish Dependency Ratio (FFDR) Improvement Initiative
Contribution type: Financial; Operational

By 2030, Musholm A/S will reduce the amount of copper- and other net-antifouling products used in net-pens in their Musholm East, Musholm West and Bisserup farm operations, which are related to impacts to benthic habitats, compared to a 2026 baseline.

Pathway: Operations
Value chain segment: Direct operations

Stock/species/site:
1. Musholm East
2. Musholm West
3. Bisserup

Musholm A/S will engage in the Musholm Bay Structural Habitat Initiative from (2026) to restore and conserve stone reef and blue mussel reef habitat by 2029, compared to a 2024 baseline.

Pathway: Engagement
Value chain segment: Direct operations

Stock/species/site:
1. Musholm East
2. Musholm West

Initiative’s name: Musholm Bay Structural Habitat Initiative
Contribution type: Financial; Operational

Musholm A/S will engage in the Blue Impact Program from 2026 to reduce risks of negative impacts to ETP marine species (including seabirds, marine mammals, and other relevant taxa) in North Sea and South American fisheries linked to its feed supply chain by 2029 compared to a 2025 baseline.

Pathway: Engagement
Value chain segment: Upstream

Relevant stock/species/site:
1. All marine ingredients sourced in feeds that originate from the North Sea and South American fisheries

Initiative’s name: Blue Impact Program
Contribution type: Financial; Operational; Educational

UPM Forests in Finland has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

UPM Forests in Finland has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

Hoffmann-La Roche AG has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

Hoffmann-La Roche AG has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

Daiwa House Industry Co., Ltd. has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

Daiwa House Industry Co., Ltd. has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

Seatopia has completed a materiality assessment and prioritization of its ocean impacts in its supply chain as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

Seatopia has completed a materiality assessment and prioritization of its ocean impacts in its supply chain as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

Waitrose Own Brand has completed a materiality assessment and prioritisation of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2

Waitrose Own Brand has completed a materiality assessment and prioritisation of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2

Waitrose Own Brand has ceased sourcing* of Moroccan Sardines from Northwest African Central Stock, since February 2026, due to continued overexploitation, despite efforts for improvement since 2015, and commits to suspend sourcing until evidence demonstrates stock recovery.

*This target was set and implemented voluntarily during the ocean validation pilot (October 2025 – July 2026). As per the SBTN Ocean Technical Guidance, companies can initially attempt to define reduction or cap targets before choosing to execute a cease to source approach.

Pathway: Cease to source
Value chain segment: Upstream

Stock/species/site:
1. Moroccan sardines (Sardinia pilchardus), FAO 34; FAO 34.2 & 34.1

Waitrose Own Brand has ceased sourcing* of Atlantic Mackerel from the Northeast Atlantic Stock, since 2026, due to continued overexploitation, despite efforts for improvement since 2021, and commits to suspend sourcing until evidence demonstrates stock recovery.

*This target was set and implemented voluntarily during the ocean validation pilot (October 2025 – July 2026). As per the SBTN Ocean Technical Guidance, companies can initially attempt to define reduction or cap targets before choosing to execute a cease to source approach.

Pathway: Cease to source
Value chain segment: Upstream

Stock/species/site:
1. NE Atlantic Mackerel (Scomber scombrus), North Sea [FAO 27; FAO 27.2; FAO 27.1]

Since 2026, Waitrose Own Brand is engaged in the Honduras Nature-Based Resilience Project to deliver mangrove habitat restoration by 2029 compared to a 2026 baseline.

Pathway: Engagement
Value chain segment: Upstream

Stock/species/site:
1. Whiteleg shrimp (Litopenaeus vannamei), Honduras

Initiative’s name: Honduras Nature-Based Resilience Project
Contribution type: Financial; operational

Kirin Holdings Company, Limited has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

Kirin Holdings Company, Limited has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

Orkla Foods Sverige AB has completed a materiality assessment and prioritization of its ocean impacts in its supply chain as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2.

Orkla Foods Sverige AB has completed a materiality assessment and prioritization of its ocean impacts in its supply chain as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.2

Limak Çimento Sanayi ve Ticaret A.Ş. (Türkiye) has completed a materiality assessment and prioritization of its freshwater impacts in its direct operations for its integrated cement plants as part of the SBTN framework, using the technical guidance in Steps 1 and 2 v1.2.

Limak Çimento Sanayi ve Ticaret A.Ş. (Türkiye) has completed a materiality assessment and prioritization of its freshwater impacts in its direct operations for its integrated cement plants as part of the SBTN framework, using the technical guidance in Steps 1 and 2 v1.2.

Hermes International has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

Hermes International has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

Sodexo SA has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.0.

Sodexo SA has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.0.

KLS PurePrint has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

KLS PurePrint has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

Seche Environnement has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

Seche Environnement has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

H&M Group has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.0.

H&M Group has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.0.

Direct Operations

H&M Group has low exposure to conversion of natural ecosystems in its direct operations, and commits to maintaining this state.

Upstream

H&M Group will source 100% of volumes of Annex 1a conversion-driving commodities in its supply chain assessed as conversion-free by 2030 (in all natural lands), compared to a 2020 cutoff year.

Upstream – deforestation only

H&M Group will achieve 100% of its products subject to the European Union Deforestation Regulation as deforestation free by 2026, compared to a 2020 cutoff year, in accordance with the legislative requirements.

Upstream – conversion in conversion hotspots (inclusive of deforestation)

H&M Group will source 100% of volumes of wood assessed as conversion-free by 2030, compared to a 2020 cutoff year.

H&M Group will source 100% of volumes of cattle (derived leather) assessed as conversion-free by 2030 compared to a 2020 cut-off year.

Notes: 

1. H&M Group does not source any conversion-driving commodities (Annex 1a) from producers or the first points of aggregation; all sourcing is from downstream from the first point of aggregation.
2. H&M Group Annex 1a commodities within target scope as defined by the SBTN methods are: cotton, wool, viscose (wood-based fibre), cattle (leather), paper & cardboard (packaging), wood.
3. Wood is included in timber products, MMCF and retail and online packaging. Wood used in other types of packaging and non-commercial goods outside H&M Group ownership fall under our material goals and policy towards suppliers to work towards conversion free.
4. H&M Group’s efforts to deliver on SBTN land target 1 on no deforestation and conversion is set with the understanding that SBTN will update its target setting methods in 2026, offering guidance for commodity volumes that are not traceable within the target timeframe. This includes alternative actions like certification, certification standard engagement, supplier engagement, product redesign, and focal landscape involvement to ensure compliance.
5. If H&M Group converts natural ecosystems within its direct operations between 2020 and 2025, it will commit to remediating it.

H&M Group commits to reduce absolute agricultural land footprint from upstream impacts 3.85% by 2030 from a 2019 base year.

Notes:

As per the SBTN Step 3: Land Technical Guidance, inclusion of waste and residues land footprint should be assessed by legal definitions, sectoral best practices, then economic value. H&M Group has assessed the land footprint for recycled materials in line with the Textile Exchange guidance.

H&M Group’s agricultural land footprint, derived from the SBTN methodology, includes cotton, wool, and leather. It excludes small volume materials as per the SBTN guidance and thresholds.

H&M Group is engaged in the Regenerative, Ecologically and Economically viable agriculture (REEVA) project in Central India and in the Regenerative Wool Project in the Eastern Cape Drakensberg Grasslands of South Africa, and committed to a substantial improvement in ecological and social conditions by 2030.

Novo Nordisk A/S has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

Novo Nordisk A/S has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

Direct Operations:

Novo Nordisk has low exposure to conversion of natural ecosystems in its direct operations and commits to maintaining this state by 2030.
Novo Nordisk will not convert critical habitat, or high conservation value areas within sites under its operational control.

Upstream:

Novo Nordisk will achieve 100% of volumes of material conversion-driving commodities from areas known to be conversion-free (in all natural lands) by 2030, compared with a 2020 cut-off year.
Novo Nordisk will also remediate all past conversion occurring between the cut-off and target year (associated with its share of volumes sourced).
Notes:
● The company’s list of SBTN Annex 1a commodities covered by the target are: wheat, maize/corn, soy, cattle, sugar beet and wood.
● Other SBTN Annex 1a commodities were assessed in Step 1 (see the list in the Step 1 section of the target tracker)
● Based on supply chain position, certain levels of the minimum conversion are permitted, though bounded by cumulative values as described in section 1.5 of the Land Guidance.

Novo Nordisk is engaged in the Tianjin Water Restoration initiative in China and the Montes Claros Water Restoration initiative in Brazil and commits to contributing to substantial improvement in ecological and social conditions in these landscapes by 2030.

Notes:
● Novo Nordisk’s Landscape Engagement Target is connected to material freshwater basins associated with direct operations sites, assessed and prioritized in SBTN Steps 1 and 2, rather
than to upstream landscapes associated with the company’s sourcing. This exception reflects the company’s operational context: upstream sourcing is geographically dispersed, while the selected basins are connected to direct operations in material freshwater basins where land-freshwater conservation interventions are critical.
● Novo Nordisk is contributing with finance for the activities planned in both initiatives, and these are led by Conservation International.

Unibail-Rodamco-Westfield has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

Unibail-Rodamco-Westfield has completed a materiality assessment and prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Steps 1 & 2 v1.1.

• Model selection: Hogeboom’s water quantity global model
• Hydro-basin ID: 2050016520

URW will reduce its freshwater withdrawal in its direct operations in the Ter Llobregat System basin, Spain, to 204,400.56 m3 by the year 2030, 16% reduction compared to an average 2018–2023 baseline*.

*Note: 2020 was excluded from the base year average as it is a non-representative year due to COVID.

Arla Foods has completed a materiality assessment of its impacts on nature as part of the SBTN framework, using the technical guidance in Step 1 V1.0.

Arla Foods has completed a prioritization of its impacts on nature as part of the SBTN framework, using the technical guidance in Step 2 V1.0.

This company participated in SBTN’s initial target validation pilot (2023-2024), which did not require public disclosure of Step 1 & 2 results.

This company participated in SBTN’s initial target validation pilot (2023-2024), which did not require public disclosure of Step 1 & 2 results.

• Model selection: Approval based on Hogeboom’s water quantity global model
• Hydro-basin ID: 2060022770

Holcim will reduce its water withdrawal in its direct operations in the Haine basin, Belgium, to 2,534,150 m3 by the year 2035, a 38% reduction compared to an average 2020-2024 baseline.

Note: The company used a recharge-versus-pumping study to inform the ambition for this target, which is greater than the basin-level threshold in Hogeboom’s water quantity global model.

• Model selection: Hogeboom’s water quantity global model
• Hydro-basin ID: 2060045150

Holcim will reduce its water withdrawal in its direct operations in the Cyclades basin, Greece, to 53,082 m3 by the year 2030, a 23% reduction compared to an average 2020-2024 baseline.

• Model selection: Hogeboom’s water quantity global model
• Hydro-basin ID: 2050016520

Holcim will reduce its water withdrawal in its direct operations in the Onyar basin, Spain, to 174,128 m3 by the year 2030, a 16% reduction compared to an average 2020-2024 baseline.

• Model selection: Hogeboom’s water quantity global model
• Hydro-basin ID: 753240

Holcim will reduce its freshwater withdrawals in its direct operations in the Moctezuma basin to 90,808 m3 by 2030 (39% reduction compared to an average 2022-2023 baseline).

This company participated in SBTN’s initial target validation pilot (2023-2024), which did not require public disclosure of Step 1 & 2 results.

This company participated in SBTN’s initial target validation pilot (2023-2024), which did not require public disclosure of Step 1 & 2 results.

GSK will reduce its freshwater net withdrawal in its direct operations in the Upper Godavari basin 100% by 2030 compared to an average 2018-2022 baseline.

• Model selection: Hogeboom’s water quantity global model
• Hydro-basin ID: 4061066980

Direct Operations

GSK will have zero conversion of natural ecosystems in its direct operations by 2025, compared with a 2020 cutoff year.

GSK has low exposure (43.7 hectares) to natural ecosystems in its direct operations and will not convert these natural ecosystems (as defined by the methods) by 2025. GSK is committed to maintaining its state by restoring its green spaces.

*GSK will remediate all past conversion occurring between 2020 and 2025.

Upstream – sourcing from downstream of the first point of aggregation

GSK will:

• achieve 100%* of volumes of Annex 1a: conversion-driving commodities from areas known to be conversion-free (in all natural lands) by 2030, compared to a 2020 cutoff year.
• achieve 100%* of volumes of soy, cattle, oil palm, and wood (traded within the EU) from areas known to be deforestation-free by 2026 (in line with EUDR), compared to a 2020 cutoff year.
• achieve 100%* of volumes of soy from conversion-free areas (SBTN-defined Conversion Hotspots) by 2030, compared to a 2020 cutoff year.
• achieve 100%* of volumes of cattle from conversion-free areas (SBTN-defined Conversion Hotspots) by 2030, compared to a 2020 cutoff year.
• achieve 100%* of volumes of oil palm from conversion-free areas (SBTN-defined Conversion Hotspots) by 2030, compared to a 2020 cutoff year.
• achieve 100%* of volumes of wood from conversion-free areas (SBTN-defined Conversion Hotspots) by 2030, compared to a 2020 cutoff year.

Footnotes:

*Based on supply chain position, certain levels of the minimum conversion are permitted, though bounded by cumulative values as described in section 1.5 of the Land Guidance.

GSK does not source coffee and cocoa as a production input, and therefore, it is not included in the scope for SBTN target setting.

The Annex 1a: conversion-driving commodities in scope for GSK are maize, sugarcane, sugar beets, bauxite, and derivatives. GSK has excluded the following conversion-driving commodities given that they comprise <10% of total conversion-driving commodities (by volume): animal feed by default of being associated with eggs, and iron, zinc, copper, and nickel, which are present in trace amounts embedded in chemical compounds, as well as small amounts of natural rubber.

GSK does not source any conversion-driving commodities from producers or the first point of aggregation.

GSK is engaged in the Hertfordshire Living Rivers Project and committed to a substantial improvement in ecological and social conditions by 2030.

This company participated in SBTN’s initial target validation pilot (2023-2024), which did not require public disclosure of Step 1 & 2 results.

This company participated in SBTN’s initial target validation pilot (2023-2024), which did not require public disclosure of Step 1 & 2 results.

• Model selection: Hogeboom’s water quantity global model
• Hydro-basin ID: 2060551020

Kering will reduce its freshwater withdrawal in its direct operations in the Arno basin to 199.33X ML/year by 2030 (21% reduction compared to an average 2018-2022 baseline).

Kering will reduce its surface water withdrawal for upstream operations in the Arno Basin to 471.14 ML/year by 2030 (21% reduction compared to average 2018-2022 baseline) and its groundwater withdrawal to 548.87 ML/year by 2030 (21% reduction compared to average 2018-2022).

Direct Operations

Kering has low exposure to conversion of natural ecosystems in its direct operations, and commits to maintaining this state. Any conversion associated with Kering direct operations will not convert critical habitat or high conservation value areas by 2025.

Kering will remediate any conversion occurring until 2025.

Upstream – sourcing from producers or first points of aggregation

Kering will achieve 100% volumes of cattle (derived leather) sourced from Europe in areas known to be deforestation-free by 2025 compared to a 2020 cutoff year.

Kering will achieve 100% volumes of cattle (derived leather) from areas known to be deforestation-free by 2027, compared to a 2020 cutoff date.

Kering will achieve 100% volumes of cattle (derived leather) from areas known to be conversion-free in SBTN conversion hotspots by 2027, compared to a 2020 cutoff date.

Kering will remediate all past conversion occurring between 2020 and the target year indicated above (associated with its share of volumes sourced).

*Kering does not source soy, oil palm, wood, cocoa, coffee or rubber from producers or the first points of aggregation.

*Kering does not source any other conversion-driving commodities (Annex 1a) from producers or the first points of aggregation.

Upstream – sourcing from downstream of the first point of aggregation

Kering will achieve 100% volumes of cattle (derived leather) sourced from Europe in areas known to be deforestation-free by 2027, compared to a 2020 cutoff year.

Kering will achieve 100% volumes of cattle (derived leather) sourced from areas known to be conversion-free in SBTN-defined conversion hotspots by 2027.

Kering will achieve 100% volumes of wood as conversion-free by 2030, with 100% deforestation-free by 2025.

Kering will achieve 100% volumes of rubber as conversion-free by 2030, with 100% deforestation-free by 2025.

Kering will achieve 100% volumes of cotton from areas known to be deforestation and conversion-free by 2030, compared to a 2020 cutoff year.

*Kering does not source soy, oil palm, cocoa, or coffee from downstream of the first point of aggregation.

*Kering does not source any other conversion-driving commodities (Annex 1a) from downstream of the first point of aggregation.

Kering commits to reduce absolute agricultural land footprint (in hectares), from upstream impacts by 3% by 2030 from a 2022 base year.

Kering is engaged in the Good Growth Company Mongolia Regenerative Cashmere Project in Mongolia, the Olive Leaf – GRASS Project Sheep Wool & Leather in South Africa, and the Organic Cotton Accelerator Regenerative Cotton Project in India, and committed to a substantial improvement in ecological and social conditions by 2030.