Key Impact Points:

• Enhances corporate ambition and credibility in nature-based target-setting.
• Provides structured guidance to prioritize and implement science-based targets.
• Promotes collaboration across sectors for comprehensive environmental action.

SBTN Launches Updated Target-Setting Guide for Corporate Sustainability

In a significant move towards advancing corporate sustainability, the Science Based Targets Network (SBTN) has unveiled its latest suite of technical guidance and enabling materials. This release marks a pivotal milestone in the journey towards science-based targets for nature, bolstered by insights from pioneering companies and robust support from NGO partners and consultancies.

“As a partner of the Science Based Targets Network, we’re pleased to announce the main 2024 release of new and updated guidance for companies to set science-based targets for nature, informed by SBTN’s trail-blazing cohort of pilot companies.” – CDP said on their socials media platforms

Increasing Ambition and Action

The updated guidance emphasizes the importance of ambitious target-setting, focusing on targeted actions where environmental impact is most critical. This approach not only drives corporate ambition but also facilitates meaningful engagement with stakeholders, establishing a common language for sustainability initiatives.

“By definition, science-based targets for nature are ambitious; focusing on place-based action where nature needs it most.” – SBTN Said

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Trusted Guidance for Effective Solutions

Acting as a compass for corporate strategy, the guide provides practical methodologies to navigate the complexities of environmental stewardship. By integrating biodiversity considerations and expanding into new domains such as freshwater and land conservation, SBTN sets the stage for comprehensive corporate sustainability practices.

The key benefits of target-setting highlighted by the Company’s pilot participants reinforce that SBTN is closing a critical gap in corporate sustainability, including:

• Increasing ambition and driving science-based action on nature
• Providing credibility and a common language to advance engagement with stakeholders 
• Acting as a trusted compass for companies to get to the right solutions

Collaborative Efforts for System-Wide Impact

Recognizing the systemic nature of environmental challenges, SBTN underscores the necessity for collaborative efforts across industries. From enhancing upstream traceability to fostering local models, the initiative encourages a unified approach towards achieving nature-positive outcomes.

SBTN Target-Setting Process

The Science Based Targets Network (SBTN) target-setting process guides companies through a structured five-step journey:

Step 1 – Assess

Gain a high-level understanding of environmental impacts across the value chain, identifying material factors and pressing environmental issues.

Step 2 – Prioritize

Focus on actions that yield significant environmental benefits, extending interventions across operations and value chain landscapes.

Step 3 – Set Targets

Define and validate science-based targets, starting with freshwater and land conservation, integrating biodiversity considerations. Future updates will include ocean targets by 2025.

Step 4 – Act

Plan actions to meet established targets, emphasizing collaborative initiatives and practical solutions to enhance environmental stewardship.

Step 5 – Track

Measure progress towards targets, report achievements, and ensure data accuracy over time. Robust tracking mechanisms promote transparency and accountability in sustainability efforts.

Cross-Step Guidance SBTN provides comprehensive cross-step guidance and resources to support biodiversity integration, stakeholder engagement, and effective target implementation. This holistic approach empowers companies to align sustainability initiatives with global environmental priorities.

Getting Started

The SBTN target-setting process is accessible through the SBTN Resource Library, enabling companies to begin their sustainability journey without registration. For official target validation, companies can utilize the Accountability Accelerator, available in late 2024.

Looking Ahead

As the initiative prepares for future updates and enhancements, stakeholders are invited to explore the updated target-setting guide and join in shaping a sustainable future. Together, through informed action and collaborative engagement, corporate leaders can drive tangible progress towards global sustainability goals.

For more information, explore the new target-setting guide or download the Corporate Manual to begin your sustainability journey.