SBTN expands call for science-based nature targets early adopters

The Science-Based Targets Network (SBTN), an initiative to develop corporate targets around nature preservation and restoration, is looking for companies with an interest in submitting nature targets for validation after its initial corporate pilot.

The SBTN, a nature-focused spin-off of the well-known climate target standard-setter Science-Based Targets Initiative (SBTi), has appointed the Global Commons Alliance Accountability Accelerator (GCAAA) to independently validate targets in an effort to enhance rigour and transparency.

It is now looking for early adopters interested in submitting science-based targets for nature in 2024, in order to continue to test validation requirements, as well as the process and resources to inform further development. 

The open call comes as SBTN’s first corporate pilot comes to a close, with insights due to be shared later this year.

How to register interest in setting science-based targets for nature

Interested firms can fill out this expression of interest form, which SBTN assures is confidential and “in no way commits your company to submit targets”. The programme is currently open to all sectors except for financial institutions and service providers.

In order to submit a target, companies must first prove that they have assessed the environmental impacts they most likely need to address through nature targets for their direct operations and upstream supply chains, and have some subnational supply chain traceability mechanism, a human rights policy, C-suite support and sufficient internal capacity or consulting support to go through the validation process.

Companies that have previously participated in another SBTN pilot, those that have started working on measuring, setting and disclosing freshwater and/or land targets using the SBTN Step 3 technical guidance will be prioritised.

The network will review submissions from May to July and notify companies when they have been approved to validate their nature targets – which will be associated with an undisclosed fee.

SBTN vs TNFD

Earlier this year, 17 companies were already selected by SBTN to pilot its target submission and validation process: AB InBev, Alpro (part of Danone), Bel, Carrefour, Corbion, GSK, H&M Group, Hindustan Zinc Limited, Holcim Group, Kering, L’OCCITANE Group, LVMH, Nestlé, Neste Corporation, Suntory Holdings Limited, Tesco and UPM were chosen out of 55 applications from 26 countries.

The work of SBTN in setting a standard for science-based nature targets is considered complementary to that of the Taskforce for Nature-related Financial Disclosures (TNFD) which has also garnered the interest of more than 300 early adopters.  

In response to growing investor interest in understanding nature risks and opportunities within their portfolios, the two organisations released joint guidance in September last year to understand the interoperability between the TNFD and SBTN frameworks.