12/11/2020NewsBusiness, Environment, News

Companies invited to join new program to help them play a key role in tackling nature loss

Today the Science Based Targets Network (SBTN) launches its new Corporate Engagement Program. Companies, consultancies, and industry coalitions can join to help with developing and road-testing the methods, tools and guidance for science-based nature targets to ensure they are user-friendly and easy to implement.

Science-based nature targets will enable companies to play the critical role required in helping stop nature loss – which is essential both for human survival and for halting climate change. In addition, the underlying causes of pandemics are the same global environmental changes that are driving biodiversity loss and climate change, according to IPBES’s latest report , making action for nature an even more pressing issue. 

When finalized through the new program, science-based nature targets will give businesses clearly defined pathways to ensuring they are doing enough to build a zero-carbon, nature-positive future through helping protect the Earth’s water, ocean, land and biodiversity. The targets build on the climate targets developed by the Science Based Targets initiative which already has 1000+ companies committed to cut their emissions in line with science. 

The companies, consultancies and industry coalitions that join the program will help with target development while learning more about the cutting-edge science around setting targets for nature, understanding how to prioritize their efforts and sharing their experiences of following the SBTN’s Initial Guidance for Companies.  

Pioneer companies including PepsiCo, Mahindra Group and L’Oréal are already signed up and hundreds of companies are due to join the program launch event on 12th November at 9am ET / 3pm CEST.

Erin Billman, Executive Director of the Science Based Targets Network said: “We are excited about working with companies to ensure our nature targets are as user-friendly and easy to implement as possible. Time is of the essence. The companies that work with us now will be in the strongest position to thrive in the future as well as being at the forefront of the transition to the zero-carbon, nature-positive economy.”

Jim Andrew, Chief Sustainability Officer of PepsiCo said: “The urgent environmental challenges facing our planet require immediate and collective action. PepsiCo wants to be part of the solution. We welcome the opportunity to work with the Science Based Targets Network to help develop clear and measurable methodologies to ensure our efforts to protect and restore nature are in line with the latest science.”

Alexandra Palt, Executive Vice President – Chief Corporate Responsibility Officer, L’Oréal said: “We know nature is reaching a tipping point, and the biggest challenges remain to come. We must accelerate our efforts and adopt a science-based approach not only on Climate but also on Biodiversity, on Water, on Nature globally. This is the only way to achieve what should be our common goal: operating within the limits of the planet and building an inclusive and sustainable society.” 

Anirban Ghosh, Chief Sustainability Officer, Mahindra Group said: “”We welcome the opportunity to ensure the work Mahindra Group is doing to transform the way we impact on nature is in line with the latest science through working with the Science Based Targets Network. There is an urgent need to accelerate the transition to a net-zero carbon, nature-positive economy and we want to ensure that we play our part.” 

ENDS

For more information, interviews, please contact tara@sbtnetwork.org tel. +44 7747 745675

See SBTN Corporate Engagement Program: overview for more details

About the Science Based Targets Network

The Science Based Targets Network aims to help create a global economy in which companies and cities operate within the Earth’s limits while meeting society’s needs through the setting of science-based targets (SBTs) to transform their impact. It is comprised of 45+ organizations working together to provide science-based targets (SBTs) for companies and cities. It builds on the momentum of the Science Based Targets initiative to enable companies to set targets beyond climate. It is part of the Global Commons Alliance.

www.sciencebasedtargetsnetwork.org

About the Global Commons Alliance
The Global Commons Alliance is an unprecedented partnership of the world’s most forward-looking organisations in philanthropy, science, business and advocacy. Its goal is to create the most powerful network to scale science-based action to protect people and planet. Its scientists are identifying a safe corridor for humanity based on the first integrated assessment of the whole Earth system. Its experts are identifying science-based targets for companies, cities and others for all the global commons. And it is building the essential media and advocacy systems to support societal transformation at scale – from individuals to companies, from cities to countries – across all global commons. www.globalcommonsalliance.org 

Science Based Targets Network