First release of science-based targets for nature set for May 2023
We are pleased to announce that the first release of science-based targets for nature will be publicly available on May 24, 2023.
This release will include integrated technical guidance for companies to assess and prioritize their material impacts on the environment and then set targets accordingly.
The first targets will help companies improve their impacts on freshwater quality (specific to nitrogen and phosphorus) and freshwater quantity as well as protect and restore terrestrial ecosystems.
The majority of the guidance in the first release is ready for companies to use apart from the land targets which will be released as a beta version for piloting prior to a version 1 rollout anticipated in early 2024.
As such, a pilot group of companies are planning to use the first release guidance to set the first targets this year. They have been selected for their readiness and applicability and represent sectors and supply chains with a high impact on nature. This pilot will be of critical value towards delivery of both the full release of the land targets as well as target validation rollout.
Upon release, we call on all companies to start to assess their environmental impacts using the Science Based Target Network’s detailed technical methodologies and prepare to set targets which can be validated by SBTN in 2024 once the pilot concludes.