“SBTN Partners with Global Commons Accountability Accelerator to Validate Science-Based Targets for Nature and Biodiversity”
The Science Based Targets Network (SBTN) has announced the selection of the Global Commons Accountability Accelerator as its independent organization to validate targets based on its framework for the next two to three years. This decision comes as SBTN expands its reach beyond the 17 multinational companies that have been part of its pilot program since mid-2023, including major corporations such as Anheuser-Busch InBev, Nestle, Tesco, and H&M Group.
SBTN’s guidance covers a wide range of corporate commitments related to freshwater, land, biodiversity, ocean, and climate. The organization is now inviting more companies to submit targets for validation in the second half of 2024, with the number selected depending on funding and resources available. There will be an administrative fee for the validation process.
The mission of SBTN is to address nature and biodiversity loss, in addition to emissions reduction targets aligned with the latest climate science. According to the United Nations, addressing nature and biodiversity loss is essential to reversing climate change. SBTN’s work on freshwater and land is closely linked to the guidance provided by the Science Based Targets initiative for forestry, land, and agriculture.
Simon Gillet, a senior sustainability consultant, highlights the importance of location and contextualization in nature-based emissions reduction targets. By pinpointing environmental impacts and dependencies based on where purchases are made, commodities are cultivated, and operations occur, companies can conduct a thorough assessment of their environmental footprint.
The selection of the Global Commons Accountability Accelerator as the validation partner for SBTN ensures independent accountability and maintains the credibility and integrity of the targets. As more companies set science-based targets for nature, additional third-party validators will be engaged to ensure rigorous scientific standards and unbiased reviews.
Companies that are not yet ready to set nature-based targets can utilize SBTN’s technical guidance to prepare for future commitments. The organization also plans to publish case studies based on the work of the corporations in its pilot test in the coming months.
Overall, the collaboration between SBTN and the Global Commons Accountability Accelerator marks a significant step towards promoting corporate accountability and sustainability in addressing nature and biodiversity loss.