For business, biodiversity loss presents physical, regulatory, financial and reputational risks. We guide businesses in deciding which are the best metric driven targets to set and ensure your strategy is effective and achievable. The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). This will help them define a clear pathway to ensure they are doing enough across their . The latest draft lists 31 targets and milestones to reach by 2030. The Science Based Targets Network (SBTN) is a collaboration of leading global non-profits and mission driven organizations working together to equip companies as well as cities with the guidance to set science-based targets for all of Earth's systems. The PRI and UNEP FI are co-hosting this webinar with . This year, the Convention on Biological Diversity is set to identify a new "Global Biodiversity Framework" of targets for the coming decade to 2030. 101 - Setting area-based conservation targets based on evidence of what nature and people need to thrive . Quantis advised on the initial guidance for business on the nature-related metrics developed by the Science Based Targets Network and expects methods to be released in 2021. The PRI and UNEP FI are co-hosting this webinar with experts to discuss: Setting science-based targets and managing validation process with SBTi; Setting a clear emission reduction strategy for the company's global operations in line with a 1.5 degree pathway; . Setting biodiversity and climate targets for national conservation action by 2030 in Asia Sep 01, 2021 Meeting biodiversity, climate, and water objectives through integrated strategies Firstly, define what particular goal you have in mind and why; whether it is reducing impacts on freshwater, or minimizing biodiversity loss from operations. The Science Based Targets Network (SBTN) is a collaboration of leading global non-profits and mission driven organizations working together to equip companies as well as cities with the guidance to set science-based targets for all of Earth's systems. rsted was previously one of the first energy companies to set a near-term science-based target for reducing emissions from power and heat generation. Setting science-based targets to stop nature loss and cut emissions will create resilient businesses, healthy cities and sustainable economies. Science-based climate disclosure requirements will help prepare US companies to remain competitive and nimble in a changing natural world and a more demanding global market that expects them to set targets and take action on climate change and nature loss. The PBAF launch attracted attention from the international press. Within the scope of this commitment, we have joined Business Ambition for 1.5C and have also become part of Race to Zero, the UN-backed campaign led by the . STAR can readily be used to set science-based biodiversity targets focused on species extinction risk, for a particular site, portfolio, country or corporate. The Science Based Targets Initiative formed as a corrective, requiring companies to set their targets at levels that were in line with what climate scientists said were required. The science-based targets have been approved by the Science Based Targets initiative, a partnership between CDP, the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the World Wide Fund for Nature . Science-Based Target Setting on Biodiversity. (Credit: SBTi) The Science Based Targets initiative (SBTi), the global body enabling businesses to set emissions reduction targets in line with science, recently launched the world-first Net-Zero Corporate Standard. Science Based Targets are developed using models that calculate the level of carbon reduction a particular organisation needs to achieve in order to do its 'fair share' in reducing global emissions. Our nature-positive strategy places us among the 1% of the 500 largest global companies with science-driven biodiversity targets 1. They call on global leaders to agree on effective measures at the CBD COP15 to reverse nature loss in this decade. (e.g. The Science Based Targets initiative invites you to: Webinar Series: Setting Science-based Targets in Asia. Target setting. A Science Based Targets Network of 45 non-profits and mission-driven organisations is working to develop targets for water, land, ocean and biodiversity. Science-based Targets for Nature: No net loss and net gain in the context of the post-2020 global biodiversity framework Why attend Join the discussion to hear how science-based targets for nature can contribute to the Global Biodiversity Framework and are being integrated into policy, corporate commitments and site-level actions by those at . This workshop will develop a prototype for a science-based approach for cities and companies toward a global biodiversity goal, including both science-based targets and a user engagement for delivering them. Last fall, a group of about 25 organizations formed the Science-Based Targets Network to consider undertaking this complex task. About Science Based Targets initiative The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. The targets allow the company to get their biodiversity targets checked and validated to know that adequate action is taken. The Science Based Targets Network is gearing up to help companies set targets for biodiversity conservation, similar to what its predecessor, the Science Based Targets initiative, has done in helping businesses set emissions goals in line with the Paris Agreement. Science-based target setting helps . No, because the Science Based Targets initiative is solely focused on GHG target setting for corporates. biodiversity, and ecosystem conversion and degradation. Truscott is clear that a company's biodiversity strategy cannot exist in a silo. 3 Set a biodiversity strategy. the 2019 Global Assessment of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services - IPBES); The SBTi defines and promotes best practice in science-based target setting and independently assesses companies' targets. The best-known SBTs are for climate. With a biodiversity impact assessment, businesses will be ready to set these targets and start off on their journey to building a science-based biodiversity strategy. However, the Science Based Targets Network (SBTN) is an initiative that addresses both companies and cities target setting, not only for climate but also for freshwater, biodiversity, land, and ocean. This simultaneously preserves the area's rich biodiversity and mitigates the release of over 1,250,000 tCO2 e on average each year. Over 900 forward-thinking businesses have already committed to taking science-based climate action in line with the Paris Agreement, which aims . "It starts with avoiding the use of materials," she says, referencing a lesson borrowed from the Science Based Targets framework. Experts will present the science behind outcome goals and related science-based targets for the three dimensions of biodiversity. Companies and cities have a key role to play in both decarbonizing our economies and restoring balance to the "global commons": land, oceans, freshwater and biodiversity, alongside climate. Impacts of business activities are the primary drivers of nature loss and climate change. NEWARK, N.J., Oct. 15, 2021 /PRNewswire/ -- PSEG announced today that it has joined the Business Ambition for 1.5C and the Race to Zero campaigns and commits to developing science-based targets . About Science Based Targets initiativeThe Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate .
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