This is the latest edition of our monthly newsletter, which highlights the latest news and events related to Science Based Targets Network and our wider network of partners. If you have any questions about content featured in the November SBTN newsletter, please contact us.
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I hope you and your loved ones are well, as the busy end of year and holidays approach, and global developments continue to provide reasons for disquiet. Here at SBTN we’ve endeavored to stay laser-focused on progress and results and are pleased to share the following.
Pioneering science-based targets for nature: initial insights and learnings
As the first cohort of companies continue to pilot the first science-based targets for nature, we are beginning to consolidate valuable insights. Our aim is to share learnings at the World Economic Forum’s annual meeting in Davos. A preview of our progress comes from one of our partners working with several of the pilot companies. They share challenges such as gathering data on suppliers as well as the benefits including “huge opportunities for innovation”.
Navigating the nature reporting landscape
Last month, we participated in BLOOM, Greenbiz’s new nature forum for companies, sharing the stage with the Taskforce on Nature-related Financial Disclosures (TNFD). Our session delved into the complementary and distinct nature of the SBTN and TNFD frameworks. Echoing this sentiment James D’Ath, Data lead for TNFD advised: “It makes no sense to do either/or because then you haven’t understood the problem at hand.” A recap can be found here.
We know the nature reporting landscape can be confusing for companies to navigate. Our Product Development Council member, Thomas Maddox at CDP, provides a thoughtful perspective that clarifies the landscape and encourages companies to get started now. Building on this, in a forthcoming blog we will shed light on how SBTN interconnects with related sustainability initiatives, through the lens of corporate environmental impact management.
COP28: Not net zero without nature positive
Finally, we will closely monitor developments at COP28, seeking bolder climate action essential for the turnaround our planet urgently requires. This is inseparable from the imperative to halt and reverse nature loss by 2030. Represented by Global Commons Alliance (GCA) and key partners, SBTN is committed to contributing to relevant events at the intersection of climate and nature.
Science Based Targets Network
P.S. We encourage companies to check out Business For Nature’s new Nature Strategy Handbook which provides a step-by-step guide for all businesses and financial institutions on how to set a forward-looking nature strategy.