Targets for nature are here
Humanity requires 1.75 Earth´s to fulfill its ecological footprint.
Shocking.
Just have a look at the graph of Earth´s overshoot day, and come to terms with nature.
Let us not forget that the well-being of humanity is deeply rooted in nature, and all economic activities are founded upon it. The interconnectedness of nature and climate demands collective action. Fortunately, more and more leaders are committing to aligning and implementing strategies that nurture both nature and climate. This will enable us to pursue inclusivity in the spirit of the Paris Agreements. As if that's not enough, the UN has urged businesses to assess and disclose their impact on nature by 2030.
The stage is set, and we are poised to make a tremendous positive impact.
“Companies need to assess if they are doing their part towards realizing the vision of an equitable, net zero and nature positive future. ”
Leaders are establishing the direction and businesses should find their way to follow.
Climate change and net-zero pledges should not be the only sustainability strategy, to stay ahead of regulations, policy changes, and new reporting frameworks, companies should also prepare to become “nature positive” and set freshwater and land targets that can be validated by the Science Based Target Network (SBTN) in 2024.
Up until now, disclosing impacts on nature was more complicated than reporting climate impact, because metrics in one case were different, while greenhouse emissions are an adopted common language. This means that companies are in the early stages of committing to a broad set of nature-related goals. Companies will have different impacts and targets depending on the nature of their business, so there is no one overarching nature target, as there is for climate.
TNFD has developed a set of disclosure recommendations and guidance that encourage and enable business and finance to assess, report and act on their nature-related dependencies, impacts, risks and opportunities.
There is a new Taskforce on Nature-related Financial Disclosures in town, and they're making waves. You won't believe it, but there are already 6 companies in the chemicals sector who are leading the charge by committing to publish nature-related disclosures using the TNFD Recommendations. These companies are true pioneers, blazing a trail for others to follow.
Check it out!
