September 2024 newsletter
Dear Colleagues,
We are pleased to announce the key outcomes from our year-long corporate pilot program, demonstrating that companies now have a clear and credible pathway to take ambitious action for nature.
The pilot outcomes – featured in a new report alongside strategic insights and corporate case-studies – highlight that first-mover companies are now equipped with a gold standard approach to comprehensively assess their biggest impacts on nature, measure those impacts accurately, and set science-based targets – beginning with freshwater and land.
The pilot successfully provided companies with a valuable test-and-learn opportunity to engage in the target-setting process in an integrated way for the first time. The majority of participating companies received validation for some or all of their targets and while some used the pilot as a chance to gain insights for future commitments, others are now preparing to publicly disclose and adopt their targets.
During Climate Week NYC, we will delve deeper into insights uncovered by the pilot at a joint event with WBCSD at the Nature Positive Hub. We hope to see many of you there as well as throughout the week.
Ocean hub public consultation
A reminder that we have just opened a public consultation for comment on our draft technical guidance to equip companies to set the first ocean science-based targets. The guidance is developed by the SBTN Ocean Hub, led by WWF and Conservation International with partners including The Nature Conservancy, FishWise, the Marine Stewardship Council, Sustainable Fisheries Partnership, and UNEP FI. On our website you can find a recording of a recent webinar and more info about the consultation, which is open for all members of the public to give feedback on until October 22, 2024.
Integrity Council for science-based targets for nature
Are you an expert in environmental science, climate policy or sustainable business? Would you like to play a central role in ensuring the integrity, accuracy and scientific validity of corporate science-based targets for nature? Our target validation host, the Global Commons Alliance Accountability Accelerator, is calling for applications for its Integrity Council. This council will oversee the governance of the target validation function and approve the operating procedures for validation assessments in compliance with our target-setting methods. More info here.
New target-setting enablers
Following our main 2024 release of updated technical guidance in July, we have recently published additional resources to support companies’ target-setting journey:
- Step 1 & 2 Self Assessment Tool – Enables companies to assess their level of data readiness and prepare the final submission form for SBTN’s validation body, the GCA Accountability Accelerator.
- Data requirements summary – Summarizes data requirements for the SBTN methods.
- Step 1 & 2 Data Templates- Provides data templates for validation purposes (beta version, not currently required for validation submission).
- Natural Lands Map – Visualizes the SBTN Natural Lands Map, intended to be used for the no conversion of natural ecosystems target
- Claims Guidance – Details the SBTN-approved language that can be used to make official claims on validated targets
You can find these documents and more on our resources page and explore our target-setting guide in full here.
The science behind science-based targets for nature
The Earth Commission’s newest paper was just published in The Lancet Planet, building on the Safe and Just Earth System Boundaries published in Nature last year, which found that most of the vital limits within which people and the planet can thrive have been surpassed. Authors outline that cities and businesses play a crucial role in becoming the stewards of our critical Earth systems. Learn more and access the full paper and find out how science-based targets for nature are guided by the Safe and Just science here.
Come work with us
We are hiring! We’re looking for a Justice and Equity Lead. The remote role will lead research and development on integrating justice, equity, diversity and inclusion principles into the SBTN target-setting framework. Learn more and apply by September 30.
Best wishes,
Erin Billman
Executive Director
Science Based Targets Network
