Science Based Targets Network taps independent reviewer for nature-related goals

GreenBiz | The Science Based Targets Network (SBTN), which aids corporations in developing science-based strategies to address nature and biodiversity loss, has selected the Global Commons Accountability Accelerator to validate these targets for the next two to three years. This move aligns with SBTN’s aim to expand its methodology and services beyond the 17 multinational companies involved in its pilot program since mid-2023 and invite more companies to submit targets for validation in the latter half of 2024, with the number of participants depending on available funding and resources.

Companies must address biodiversity and nature loss if they are to effectively take action against climate change. In an interview with GreenBiz, Quantis Senior Sustainability Consultant Simon Gillet notes that a lot of the data used for climate reporting can also be utilized for nature-based emissions-reduction targets. “The difference lies in the location and contextualization of these activities. By pinpointing where purchases are made, where commodities are cultivated, and where operations occur, companies can conduct a thorough assessment of their environmental impacts and dependencies.”

“‘Having an independent validation partner is crucial for maintaining the credibility and integrity of the targets,’ Gillet said. ‘It ensures that the targets are based on rigorous scientific standards and unbiased reviews, fostering trust among stakeholders, investors and the public.'”