GSK and Holcim are among the first companies to sign up to the Global Commons Alliance’s science-based targets for nature. Administered by the Science Based Targets Network (SBTN), the development follows a one-year pilot programme which trialed the initiative and demonstrated a credible way for companies to take ambitious action for nature, addressing key drivers of nature loss in the ecosystems in which the companies and their suppliers operate.
Science-based targets for nature are regarded as a key mechanism by which companies can deliver on the Global Biodiversity Framework (GBF). The GBF was adopted at the 15th Conference of Parties to the UN Convention on Biological Diversity held in Montreal, Canada during 2022. It aims to halt and reverse nature loss and comprises global targets to be achieved by 2030, and beyond, to safeguard and sustainably use biodiversity.
The SBTN said that the success of their pilot programme was underscored by 60% of the participating companies receiving validation for some or all their targets. Along with GSK and Holcim, global luxury group Kering has also publicly adopted the targets. As well as helping to deliver on the GBF, the science-based target for nature will help companies understand if they are taking enough of the right actions, at the right time in order to do their bit to halt nature loss by 2030, the SBTN said.
GSK said it is reducing the use of fresh water from its direct operations located in the Upper Godavari Basin in India by 100% by 2030 compared to an average 2018-2022 baseline. Holcim is also reducing its freshwater withdrawal in its direct operations in the Moctezuma Basin, in Mexico, by 39% compared with the average 2022-2023 baseline.
The news comes as business leaders meet in Colombia for COP16 where negotiations are focused on the need for urgent action to protect biodiversity and stop the decline of the natural environment.
Erin Billman, executive director of Science Based Targets Network said: “Our corporate pilot has shown that science-based targets for nature are both feasible and valuable, closing a critical gap in corporate sustainability. We are pleased to see GSK, Kering and Holcim lead the way in publicly adopting the world’s first science-based targets beyond climate, demonstrating that a clear and credible pathway for ambitious action for nature is possible.”
SBTN said that more than 150 companies are now set to establish science-based targets for nature. Billman added: "The time for companies to act is now - responsibly, urgently, and with the ambition that matches the scale of the challenge."
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