In this 11th year of Climate Week NYC, nature loss has taken center stage. Stakeholders of all kinds insist that the world’s climate targets can only be met with an integrated approach that includes actions to reverse degradation of the planet’s biodiversity, land, oceans and freshwater. As part of Quantis’ efforts to accelerate business action to protect and restore nature, we join Business for Nature’s Call to Action and celebrate the launch of the initial guidance on Science Based Targets for Nature.
Quantis is excited to be part of this growing business momentum to protect and restore nature using the best science available.
Nature is everyone’s business.
Today, Quantis joins more than 560 companies with combined revenue of $4 trillion including Walmart, Citigroup, Microsoft, JD.com, Hitachi, IKEA, Unilever, Axa, Mahindra Group and H&M Group to urge governments to adopt policies now to reverse nature loss in this decade. This Call to Action facilitated by Business for Nature is the first time so many businesses have stepped forward with the ambition of influencing discussions in the run up to delivering a Post 2020 Global Biodiversity Framework.
Government policies to reverse nature loss would help create a level playing field and unlock new business opportunities, but leading companies understand that they cannot wait for these policies before taking action. The sooner they begin shifting business models to align with the Earth’s capacity, the more resilient they will be. Many have already made commitments to reverse nature loss, and need a framework to define the level of ambition required for their company to do at least its fair share. This week, that framework has arrived.
Science-based guidance for businesses to tackle the nature crisis
Quantis partnered with the Science Based Targets Network to develop the first business-oriented guidance on “Science-Based Targets for Nature Initial Guidance for Business.” The initial guidance on SBTs for Nature guides companies to define their environmental strategy if they want their business to operate within planetary boundaries. In the same way that the Science Based Targets initiative translated the global 1.5 degrees climate goal into actionable GHG reduction targets, SBTs for Nature are expected to set the scientific standard for companies’ sustainability strategies on other Earth systems including biodiversity, land, water and oceans. This first public draft lays out the level of ambition expected and gives companies the elements they need to begin preparing their next set of environmental commitments.
Launching SBTs for Nature is a massive step for corporate sustainability strategies aligned with science. We’re excited to have contributed to this trail-blazing project to protect and restore nature, and look forward to working together with our partners to set targets that will drive the solutions our planet needs.
Let’s get to work!