The loss of nature poses a direct threat to economic activities currently responsible for generating over half of GDP. Each year, ecosystems provide services estimated to be worth more than US$ 40 trillion (around half of the global gross domestic product). Local and global pressures on nature like landscape conversion and pollution are decreasing ecosystems’ ability to function and, consequently, their ability to provide contributions to the wellbeing of human and nonhuman life.
By expanding the scope of SBTs from tackling only climate change to tackling both the loss of nature and climate change, we can foster synergies between public and private sector action on these two fundamentally connected issues.
Neither issue can be solved without action on the other.
This report provides initial guidance on how companies can set SBTs for nature. Nature focused SBTs as currently designed will allow companies to take action that aligns with a subset of the goals set out in the UN conventions on biodiversity (UNCBD), climate change (UNFCCC), land degradation (UNCCD), and the 2030 Agenda for Sustainable Development (SDGs).