What is SBTN?
The Science Based Targets Network (SBTN) is a civil-society and science-led initiative established in 2019 by a coalition of global NGOs. The network aims to collectively define the actions necessary for businesses and cities to operate within Earth’s ecological limits while meeting societal needs.
What are Science-Based Targets for Nature?
Science-based targets for nature (SBTs) are measurable, actionable, and time-bound objectives grounded in the best available science. These targets enable businesses to align their operations with Earth's ecological boundaries and societal sustainability goals. By adopting SBTs for nature, businesses and cities aim to ensure their activities respect planetary limits while contributing to global objectives for equitable human development.
Why are Targets Needed?
Every company relies on nature and, in turn, contributes towards its decline. Research shows that over 55% of global GDP ($58tn) is highly or moderately dependent on nature. This dependency makes the business case for addressing nature and climate issue more compelling than ever.
The 2020 Kunming-Montreal Global Biodiversity Framework, agreed upon by nearly 200 countries, underscored the urgent need for businesses to take action on nature. Science-based targets for nature offer a mechanism for businesses to affect their environmental commitments, similar to the Paris Agreement for climate change. Integrating these targets into business strategies is crucial for ensuring a healthy, resilient, and equitable world while enhancing long-term business resilience.
Why set targets through SBTN?
By setting targets through the Science Based Targets Network, companies and cities can ensure they are taking adequate steps to halt and reverse nature loss, while also leveraging the associated opportunities.
Amid the myriad of sustainability initiatives, SBTN focuses on providing streamlined, prescriptive resources for setting corporate environmental targets, enhancing business confidence and operational efficiency. SBTN’s target-setting process aligns with widely-used standards, frameworks, tools, and data (such as the Taskforce for Nature-related Financial Disclosures) for impact assessment and reporting, thereby increasing efficiency for companies. This approach ensures that businesses and cities are equipped to make significant contributions to reversing nature loss and seizing the opportunities it presents. SBTN also goes a step further than reporting frameworks to drive action rather than disclosure.
Graphic from SBTN
What is new?
SBTN has just released a suite of new enabling materials and updated technical guidance. These are informed by insights from their “trail-blazing target-setting companies”. Explore the target-setting guide here.
How can Fola help you set science-based targets for nature?
Fola specialises in advancing understanding, accountability and action on nature. We can help your business:
1. Build internal capacity to understand and articulate the role of nature
2. Understand its impacts and dependencies on nature
3. Set science-led targets that address your material impact and dependences on nature
4. Develop targeted strategies to reduce and avoid impacts on nature and simultaneously transform your business models in a way that aligns with a net-zero future
Get in touch: information@fola.earth