Wherever possible, we draw on existing practice and point to work that companies may have already done that gives them a strong starting point for setting SBTs for nature. In short, companies will:
1. Assess. To begin, you gather and/or supplement existing data to estimate your value chain-wide impacts and dependencies on nature, resulting in a list of potential ‘issue areas’ and value chain locations for target setting.
2. Interpret & Prioritize. You then interpret the outputs of Step 1, prioritizing key issues and locations to take action. You will consider actions across different ‘spheres of influence’-from your operations, to the landscapes surrounding your value chain(s).
3. Measure, Set & Disclose. You then collect baseline data for prioritized targets and locations.Using the data from this and previous steps, you can set targets aligned with Earth’s limits and societal sustainability goals and then disclose these publicly.
4. Act. Once targets are set, you utilize SBTN’s Action Framework (AR3T: Avoid, Reduce, Regenerate,Restore, and Transform) to make a plan and begin to address your contributions toward the unsustainable use and loss of nature key impacts.
5. Track. Finally, you monitor progress toward your targets, and report publicly on this progress, and adapt your approach as necessary.
Figure ES4
Click here to read our complete Initial Guidance for a detailed step-by-step process to set science-based targets for nature.
The Initial Guidance for Business is meant to catalyze the corporate push toward a nature-positive future. With our guidance in hand, companies can begin setting targets and taking action today.
Beyond the Initial Guidance for Business, there are other opportunities for companies to engage with SBTN as method development continues.
SBTN is in the final stages of its three year sprint (see timeline in Table ES1) to develop key methods in partnership with the Global Commons Alliance for each of the target types shown in Figure ES3. Different methods are at different stages of development, given differences in the underlying science, existing corporate accounting and reporting, and other factors.
In Table ES1 we summarize what we provide in this guidance and what companies can already do today, versus what we will make available and possible for corporate action by 2023. Other targets are in active development and will be available soon, so companies are encouraged to engage with SBTN to stay up to date.
