24th May: New framework will allow firms to assess their impact on nature

Businesses can now assess their impacts on nature loss using science-based targets as part of a move to “get nature into the boardroom”.

Research shows that the biodiversity crisis is as serious as the climate crisis, yet there is less information about how companies drive nature loss, because this data is not being disclosed. The Science-Based Targets Network (SBTN) is providing the first framework for companies to report their impacts on nature as part a new frontier of corporate environmental reporting.

SBTN is releasing guidance for companies measuring how they contribute to land degradation, and the use and pollution of freshwater. Companies can then work out what impacts they should focus on reducing and what targets they can set to achieve that. Reporting systems for oceans and species abundance are still being worked on and are to be released in the coming year.