While the Science-Based Targets Initiative (SBTi) has become a trusted framework for businesses to report and measure the impacts of their environmental investments, the Science-Based Targets Network (SBTN) is only at the start of its journey.
The SBTN supports businesses to invest and report on their nature investments (for example, habitat restoration and preservation). The SBTN builds on the momentum of the SBTi and also works to meet the demand for a system to measure nature investment post the launch of the Global Biodiversity Framework.
In this article, we’ll dive deeper into:
- The SBTN and what they do
- How science-based targets for nature work
- The first companies pioneering science-based nature targets
Who are the SBTN?
Science-based targets are the starting point for private organisations to measure and report on their environmental investments (for example, reducing carbon emissions). The SBTi takes the requirements outlined in the 2015 Paris Agreement and articulates them into emission-reduction goals for companies.
While SBTs provide businesses with an environmental framework to reduce greenhouse gas emissions, the SBTN has been formed to support businesses to set targets to protect and restore nature.
The SBTN brings together global experts to support businesses to make decisions backed by science to safeguard the natural world in all aspects of their operations. While the SBTi and SBTN are separate entities, a number of the founding organisations for the SBTi are also involved in the SBTN.
How science-based targets for nature work
The SBTN defines science-based targets as “measurable, actionable, and time-bound objectives, based on the best available science, that allow actors to align with Earth’s limits and societal sustainability goals.â€
The network outlines the steps companies must take to implement a SBT for nature, including:
- Assessing the organisation’s biggest environmental impacts
- Prioritising where urgent action is needed
- Measuring and reporting data from priority targets
- Using the SBTN’s framework to set targets and create action
- Monitor progress towards the target and publicly disclose impact
The SBTN has developed its frameworks in line with existing frameworks (for example, the SBTi and the TNFD) and also global and regional policies (i.e. the EU’s CSRD).
The companies pioneering SBTs for nature
The SBTN has selected a target group of 17 companies for the initial pilot launch of SBTs for nature, with the framework to be accessible to all companies in early 2024. Some of these early adopters include:
- Alpro: Plant-based food producer Alpro has focused on setting targets that find solutions and improvements for their almond supply chain based in Spain.
- Tesco: Already a leading adopter of SBTs via the SBTi, Tesco has set numerous nature-positive targets in the areas of soil, water and biodiversity.
- L’Occitane Group: As part of their latest biodiversity strategy, the cosmetic retailer has set out “a clear framework of behaviour covering the five key areas of biodiversity loss: land-/sea-use change, resource exploitation, pollution, invasive alien species and climate change.â€
- GSK: Pharmaceutical company GSK has committed to being nature-positive by 2030 and is also one of the first companies to trial the SBTN to measure its impact.
- LVMH: Luxury goods company has partnered with the SBTN and announced its first qualitative target for reducing its water consumption footprint at the end of 2023.
The future of nature-based targets
The Science Based Targets Network (SBTN) represents a pivotal step forward in the global effort to combat climate change by expanding the view to include our natural ecosystems, habitats and biodiversity. By uniting businesses and policymakers under a common framework, SBTN provides a robust methodology for setting ambitious nature targets aligned with climate science.
Dulra is developing a cutting-edge AI data management platform designed to help nature-based solution projects secure funding by converting raw ecological, climate and socio-economic data into actionable reports for funders. Learn more.
