Public consultation now open for the first corporate ocean science-based targets
Today, the Science Based Targets Network (SBTN) is pleased to open a public consultation on its draft technical guidance to equip companies to set the first ocean science-based targets, focusing on seafood value chains, and addressing impacts from both wild capture fishing and aquaculture.
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.
Public consultation timeline and purpose
This public consultation – running from September 10 to October 22, 2024 – marks a critical point in the development of the ocean targets. It is the public’s opportunity to provide input into the Network’s multi-stakeholder process to ensure the finalized guidance for companies is as robust, clear and practical as possible.
Expanding SBTN’s portfolio to include ocean
When released in 2025, the ocean targets will expand SBTN’s existing portfolio of environmental targets, which currently includes land and freshwater, with biodiversity guidance integrated throughout the methods. Before setting targets, companies must first use SBTN’s methods to holistically assess and prioritize their environmental impacts. This initial assessment phase ensures that companies set targets where they have the greatest impact, ensuring their actions play a key role in halting and reversing nature loss.
Why ocean science-based targets matter
Covering over 70% of our planet, the ocean supports global food security and livelihoods, regulates the global climate, and produces half of the oxygen we breathe. But current pressures on the ocean’s health pose great risks to economies, communities and nature.
Integrating ocean targets into science-based targets will elevate corporate responsibility by ensuring companies address the significant environmental impacts of their ocean-related activities including industrial fishing, helping to protect and restore critical ocean ecosystems within a clear, measurable framework.
To learn more about the public consultation, watch a recording of our webinar which took place on September 17. View the webinar slides here.
