Companies that took part in the Science Based Targets Network’s (SBTN) pilot to assess and prioritise their environmental impacts “have proved that there is a clear and credible pathway to take ambitious action for nature”, according to the organisation.
SBTN released the first corporate science-based target-setting methods for nature in May 2023, with a group of 17 companies taking part in a pilot that required them to prepare and submit freshwater and land targets for validation in alignment with the 2023 versions of the methods.
Participating companies 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, according to the SBTN Validation Pilot Summary Report. It continued to say they view science-based targets for nature as “instrumental” in establishing a foundation for measurable, comparable and standardised 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.
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. These piloting companies have six months (by 10 January 2025) to adopt their targets, which will be made public via a target tracker on a rolling basis.
Next steps
During the pilot, SBTN responded to feedback about its environmental impact methodology to address challenges around the feasibility and complexity of the target validation requirements. The updated methods, released in July, included strengthening confidence in prioritising areas for action, enhancing interoperability with related frameworks, offering additional support and resources and providing clearer guidance. In addition, through its Claims Guidance, SBTN said it had addressed feedback to provide more flexibility in the target-setting journey.
Using SBTN’s strengthened methods, over 150 additional companies – through SBTN’s Corporate Engagement Program and its service provider program – are preparing to set science-based targets for nature.
But they also highlighted areas for future development in their report. SBTN’s next generation of nature targets for 2025 are set to address corporate demand for implementation guidance and broader coverage of freshwater and land targets, alongside additional biodiversity integration. SBTN said it would also deliver the first ocean targets for companies, and equip cities with initial guidance on science-based targets for nature.
Additionally, SBTN said it is turning its sights to scaling adoption and impact, with more collaboration needed to overcome broader systemic challenges. Challenges flagged in the report are systemic, such as difficulty in tracing raw materials through complex supply chains and local freshwater model availability.
Overcoming these challenges “demands collective action” across civil society and the broader international community to help close critical gaps, the report continued, while helping to solve fundamental, system-wide challenges so all companies can take ambitious action where nature needs it most.
