SBTN announces first companies publicly adopting science-based targets for nature

30/10/2024

Global luxury group Kering adopts the first-ever science-based targets for both freshwater and land, while global biopharma company GSK and building materials and solutions company Holcim have adopted the first science-based targets for freshwater
These disclosures come following the conclusion of the Science Based Targets Network’s (SBTN) year-long corporate pilot program, with majority of participating companies receiving validation for some or all targets
Trail-blazing companies will move ahead with adopting and publicly disclosing targets – focused on freshwater and land – addressing key drivers of nature loss within the ecosystems they and their suppliers operate
Announcement comes as business and world leaders gather at COP16, with SBTN’s Executive Director Erin Billman calling for urgent corporate action to tackle nature loss

Significant milestone for corporate action on nature

The Science Based Targets Network (SBTN), part of the Global Commons Alliance, has today announced the first set of companies publicly adopting science-based targets for nature, beginning with freshwater and land; a significant milestone in advancing ambitious and measurable corporate action on nature.

This announcement comes on the heels of SBTN’s year-long pilot program with a trail-blazing cohort of companies trialing science-based targets for nature, which concluded mid this year. As a result of the pilot, SBTN has demonstrated a credible way for companies to take ambitious action for nature, addressing key drivers of nature loss in the ecosystems they and their suppliers operate, and aligning their business strategies with nature positive goals. The pilot program’s success is underscored by the majority (60%) of participating companies receiving validation for some or all of their targets.

Among companies which received validated targets, global biopharma company GSK, global luxury group Kering and building materials company Holcim are the first set of companies to move forward with publicly disclosing and adopting their targets.

This positive milestone comes as world and business leaders gather at COP16 in Colombia, where urgent action to preserve biodiversity and stop the destruction of nature have been at the heart of negotiations. With all industry sectors having a portion of their direct operations or supply chain highly dependent on nature, the business case for taking action to address nature loss and climate change together has never been clearer.

Science-based targets for nature are a key mechanism for companies to deliver on the Global Biodiversity Framework. Aiming directly at the drivers and pressures of nature loss, science-based targets for nature will tell a company if they are taking enough of the right actions, in the right places, at the right time in order to do their part to reverse and halt nature loss by 2030. These much needed targets on nature build on and complement existing corporate targets on climate.

Erin Billman, Executive Director of Science Based Targets Network, said: “With global nature loss accelerating at an unprecedented rate, it’s clear that urgent, decisive action is required from governments and business alike to reverse and halt this trend. For companies, this means understanding their material impacts and dependencies on nature, and taking ambitious science-based action to address and mitigate those impacts.

“Our corporate pilot has shown that science-based targets for nature are both feasible and valuable, closing a critical gap in corporate sustainability. We’re pleased to see GSK, Kering and Holcim lead the way by publicly adopting the world’s first science-based targets beyond climate; demonstrating that a clear and credible pathway for ambitious action for nature is possible. The time for companies to act is now — responsibly, urgently, and with the ambition that matches the scale of the challenge.”

Trailblazing companies set and publicly adopt first science-based targets beyond climate

The corporate pilot enabled companies to comprehensively assess their biggest impacts on nature, to quantify those impacts and to set science-based targets – beginning with freshwater and land.

Of companies with validated targets, those which have moved ahead with public adoption include:

Kering – Global luxury group Kering has set its first freshwater quantity target for its direct operations, including Kering owned tanneries and factories, and upstream suppliers, with an initial focus on the Arno basin in Tuscany where most of the Group’s tanneries and supplier tanneries are located, equalling a significant percentage of the Group’s water use across its supply chain. Kering has also set science-based targets to address its impact on land, including targets to address no conversion of natural ecosystems, to reduce its land footprint, and to engage in materially relevant landscape initiatives. The company plans to continue its use of certifications for its sourcing downstream of key commodities such as wood and rubber, and to continue its efforts to promote regenerative agriculture practices in its supply chain which will improve both land and water footprints.
GSK – Global biopharma company GSK has set company goals on both climate and nature, which includes a commitment to be water neutral in its operations in water-stressed regions by 2030. As part of the pilot, GSK implemented the SBTN’s guidance to validate its approach to freshwater, focusing on its manufacturing site in Nashik, India, which is located in a water-stressed basin. As a result, GSK has set a freshwater quantity target for its direct operations, with an initial focus on the Upper Godavari basin in India.
Holcim – Global building materials and solutions company Holcim, with its granular water data for its direct operations, was able to set an ambitious target to reduce freshwater withdrawals in its direct operations, targeting the Moctezuma basin in Mexico. The company is already engaging with suppliers to collect geolocation data and gain more traceability for science-based target-setting.

Pilot companies with validated targets that have not yet proceeded with publicly adopting the targets have six months from the conclusion of the pilot (until January 10, 2025) to do so. SBTN will be publishing a corporate target tracker on its website in early 2025, to provide transparency of targets set. In addition, some pilot companies plan to resubmit their targets using SBTN’s updated methods published in July, while others viewed the pilot as a test and learn opportunity to gain insights for future commitments.

Significant value gained from target setting process

Participating companies in the corporate pilot highlighted that setting targets helped raise corporate ambition and drive credible action for nature, including moving beyond zero deforestation to zero conversion of natural ecosystems. Insights gathered from the pilot revealed that companies view science-based targets for nature as instrumental in establishing a foundation for measurable, comparable, and standardized approaches.

SBTN’s target-setting process not only helped drive more strategic discussions around business functions at a leadership level, but also provided credibility and a common language to advance engagement with stakeholders.

Momentum building for SBTs for nature

This is just the beginning. We are pleased to see these trailblazing companies leading the way, and we look forward to seeing more companies follow suit in the months ahead. With over 150 additional companies already preparing to set targets through SBTN’s Corporate Engagement Program and service provider program, momentum is building. The upcoming new target validation service, hosted by the Global Commons Alliance Accountability Accelerator will enable companies to submit targets and have them validated, ensuring their targets are robust and in line with what science requires.

Looking forward, SBTN’s next generation of nature targets for 2025 will address corporate demand for guidance on target implementation and broader coverage of freshwater and land targets alongside additional biodiversity integration. SBTN will also deliver the first ocean targets for companies as well as equipping cities with initial guidance on science-based targets for nature.