This Article in Fortune Magazine reports on the progress of 17 global companies that signed up for the first scientific targets for nature, a trial led by the Science Based Targets Network. The article shares four key insights from SBTN director Erin Billman, including how companies raised their natural ambitions, achieved measurable benefits, balanced rigour and feasibility, and developed critical skills for this work.
Reporting that by aligning their actions with the latest science, companies can avoid the negative impacts of nature loss and climate change on their operations, supply chains, and consumers, to reduce risks. Setting and disclosing verifiable targets can enhance a company’s reputation, trust, and loyalty and attract more capital and talent. Moreover, adopting science-based targets for nature can help companies innovate and optimise their products, processes, and business models to reduce their environmental footprint, and increase efficiency and resilience, creating new opportunities for growth, differentiation, and value creation. The article suggests that setting nature-based targets leads to tangible progress and that more companies will be able to join the initiative.