Body for nature-related corporate targets chooses verifier
SBTN calls for ‘motivated’ companies to work with new body to assess potential
The Science-Based Targets Network (SBTN) has appointed an external body to validate companies’ nature-related targets.
Corporate commitments will be referred to a new ‘Accountability Accelerator’, run by SBTN’s umbrella body, the Global Commons Alliance, for evaluation.
“The process will check companies’ compliance against requirements to make sure their targets are robust and in line with science, supporting the public claims companies can make once their targets are validated,” said SBTN in a statement published today.
SBTN is the nature-focused sibling of the climate body Science-Based Targets initiative (SBTi).
SBTi validates corporate decarbonisation targets in-house, which some critics say presents a conflict of interest as it could influence future methodological decisions, and SBTi generates fees from every approved company.
Today’s move comes as SBTN prepares to launch its validation services for the first time, and looks like an attempt to dodge the same criticisms.
“SBTN’s need for independent validation of science-based targets for nature aligns well with our commitment to a strong corporate accountability ecosystem,” said the Accountability Accelerator’s executive director, Natasha Matic, in a statement.
The Accelerator will perform validations for up to three years, and is currently recruiting and training experts, and building a platform through which companies can submit their nature-related targets.
Separately, SBTN is creating an ‘integrity council’ to govern the validation process and a ‘learning committee’ through which it will interact with the process and work out how to improve it.
The body also issued a call today for “motivated” companies to apply to work with the Accountability Accelerator “to evaluate their readiness to set targets, and to inform validation team resourcing”.
It will release updated methods, guidance and case studies later this year.