KPMG -開啟你的自然之旅：自然商業(yè)指南-Getting started on your nature journey - A business guide to nature

Gettingstarted

onyournature

journey

Abusinessguidetonature

KPMGInternational

December2023

Contents

1

2

3

Introducingnatureandbiodiversity

03

Emergingregulations,standardsand

frameworks

10

10mostcommonlyaskedquestionson

howtostartyournaturejourney

17

4

5

WhyworkwithKPMG?Ourspecialists

areheretohelpmakeadifference

21

Timelyinsightsintotoday’srealityand

howtorespond

23

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Gettingstartedonyournaturejourney2

Introducing

Nature&

Biodiversity

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Gettingstartedonyournaturejourney3

Introducingnatureandbiodiversity

Thepressureontheplanet’snaturalenvironmenthassoaredinrecentdecadesanditsalarmingimpactisraisingunprecedentedquestionsabouttheworld’s

futurehealthandprosperity.Withsixoutofnine

planetaryboundariesbreached,wenowfaceahighriskofsuddenorirreversibleenvironmentalchanges—inducedbyhumanactivities.WWF’sLivingPlanetReport2022statesthatwehavelost69percent

ofwildlifepopulationsandan83percentdeclineoffreshwaterspeciespopulations.

TheWEF’sGlobalRisksReport2023,meanwhile,

cautionsthatthenextdecadewillbecharacterized

byenvironmentalandsocialcrisesdemanding

decisiveaction.Biodiversitylossandecosystem

collapsearenowamongthefastest-growingglobalrisksoverthenextdecade.

Thestateofchangeissoseverethatwehaveput

theplanet’sveryfutureatrisk.Thisalarmingand

unprecedentedtrendcouldripplethroughtheglobalized

economy—underminingtheabilityofpeople,

communities,businessesandeconomiestothrive.

Whatisnatureandbiodiversityandwhyisitimportantforbusinesses?

Naturecanbeunderstoodthroughaconstructoffourrealms—ocean,land,freshwaterandatmosphere—andsocietydependsonandimpactseach.The

graphiconthefollowingpageillustratesthebenefitsofbiodiversityandnaturalcapital,aswellastoday’skeydriversofbiodiversitylossasdefinedbyIPBES(Intergovernmentalscience-policyPlatformon

BiodiversityandEcosystemServices).

WhatisNature?

Natureincludesboththeliving(biodiversity)andnon-livingcomponents

(water,soil,air)ofecosystems.Naturecanbeunderstoodthroughaconstructoffourrealms:

Land

Ocean

Water

Atmosphere

WhatisBiodiversity?

Withinnature,biodiversityisthediversityoflifeonEarth,includingthediversityofecosystems,speciesandgenes.Biodiversityisakeyindicatortounderstandthestatusandintactnessofnature.

Ecosystems

Species

Genes

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Gettingstartedonyournaturejourney4

Mostcompanies,investorsand

lenderstodayinadequately

accountfornature-relatedrisksand

opportunitiesintheirdecisions.

TaskforceonNature-relatedFinancialDisclosures(TNFD)

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Gettingstartedonyournaturejourney

5

1

2

3

Whyisnatureandbiodiversityimportantfor

yourbusiness?

Allbusinessesdependonnatureanditsservices.

Thosehighlyreliantonnaturearemostatriskfromtheharmfulandcostlyconsequencesofnaturedegradationandbiodiversityloss.Biodiversitylossaffectscompaniesacrossallsectors.Inadditiontomanybusinessesbeing

directlydependentonnatureandbiodiversityfortheir

operationsandservices,mostbusinessesalsodependonnatureindirectlythroughtheirsupplychains.

Aswellasarisktobusinesses,natureandbiodiversity

shouldalsobeconsideredanopportunity.InnovativenewinitiativestoprotectnatureandbiodiversitycouldgeneratebusinessopportunitiesworthUS$10trillionannuallyand

createmorethan400millionjobsgloballyby2030.Nature-relatedopportunitiesarefastevolving—includingnature-positivefinancingmechanismsthatpresentstrategic

opportunitiestoinvestinnatureandbiodiversity.

Natureandbiodiversitycanbefurtherintroducedby

consideringthefollowingthreeaspects:

Naturalcapitalprovidesecosystemservicesthatsupportsocietyandbusiness,while

humanactivitiesdriveitsloss(Refertopage7)

Biodiversitylosscanimposeeconomicriskstocompaniesacrosssectors(Refertopage8)

Climateandnatureareinextricablylinked,makingnatureakeylevertomeetclimategoals(Refertopage9)

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Gettingstartedonyournaturejourney6

Ecosystemservicestohumans

Natureandbiodiversitycreateecosystemswhichprovideservicesthatarefundamentaltohumanwell-being.Theseservicescanbegroupedintodifferentcategories:

Provisioningservices

Materialbene?ts,suchasenergy,food,energyandrawmaterials.

Regulatingservices

Bene?tsobtainedfromtheregulationof

ecosystemprocesses,suchascarbonsequestration,moderationofextremeweatherevents.

Culturalservices

Non-materialbene?tspeoplegainfromecosystemsthatenhancementaland

physicalhealth,suchasspiritualandculturalbene?ts,asenseofplaceandbelonging.

Supportingservices

Necessaryfortheproductionofallother

ecosystemservices,suchasnutrientcycling,soilformationandpollination.

1.Naturalcapitalprovidesecosystemservicesthatsupport

societyandbusiness,whilehumanactivitiesdriveitsloss

Humanactivitiesdrivingnatureandbiodiversityloss

Oursocietydependson,aswellasimpactsnatureandbiodiversity—affectingtheservicesecosystemscanprovide.

Driversofbiodiversityloss

Land,freshwaterand

seausechange

Directexploitation

Climatechange

Pollution

Introductionof

invasivespecies

Exampleofimpact

Landusechangeimpactinghabitats,erosionand?oodrisk

Resourceexploitationaffectingwateravailabilityandriverquality.

Increaseinoceantemperaturesimpactinghabitatsof?sh

Acidraincausesdamagetoaquaticecosystems,soilandvegetation

Introductionofinvasivespeciesimpacting

securityofresources

Sources:KPMGadaptedfromIPBESGlobalAssessment,2019

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Gettingstartedonyournaturejourney7

Physicalandtransitionrisks

Credit

risks

Losingthe

creditqualityof?xedincome

holdings

Market

risks

Lossesin

on-andoff-

balance-sheetpositionsduetoprice

?uctuations

Operational

risks

Impactson

mainbusinessactivities

Liquidityrisks

Cash

shortfallsorchallengesinobtaining

re?nancing

Reputationalrisk

Losing

revenuesduetolossof

buyersand/orclients

2.Biodiversitylosscanimposeeconomicrisksto

companiesacrosssectors

Businessandinvestmentactivitiescandirectlyandindirectlydrivenatureloss,whichcreatesrisks—andopportunities—forbusinessandsociety.It’skeythatwestarttorecognizenature’svaluetobusinessandsociety,andprotectandregenerateournaturalassets.Asrawmaterialsandecosystemssuffer,businessesfacekeyphysicalandtransitionrisks,suchasmarketrisks,operationalrisksandreputationrisks.

Industriesandkeyhumanactivities:

?Fishery

?Agriculture

?Energy

?Mining

?Infrastructure

?Forestry

?Consumergoods

Exploitationleadingtobiodiversityloss

Rawmaterials,

ecosystemservices

Financing

andinvesting

Transmissionchannels

Biodiversityandnature

Impacts

Dependencies

Provides

Example

3.

Increase

likelihoodof

disruptionof

activitiesandvaluechains—businessrisk

2.

Riskpro?le

changesdue

toanincreasedinobserved

erosionand?oodingalongtheriverbank

4.

Increasedriskfor?nancial

institutionsduetoon-accountedphysicalrisks

intheirrisk

assessment

1.

Increased

deforestation

alongthe

?oodplainofa

riverdueto

landclearance

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Gettingstartedonyournaturejourney8

02

NaturepositivesolutionscansupportthedeliveryofNetZerothroughcarbonsequestrationandreducedGHGemissions

Example:Therestorationofapeatlandhabitatbene?tsnaturethroughthereturnofthe

nativehabitatandpromotesthecapacityofthepeatlandtosequesterandstorecarbon

Climate

Positive

Outcomes

04

Actionsundertakentocombatclimatechangecanhavenegativeimpactsonnature

Example:Bioenergycanprovidealow

carbonfuelsourcebuttypicallyrequireslargemonocultureplantationswhichhaveoverwhelminglynegativeimpactson

biodiversity.

3.Climateandnatureareinextricablylinked,makingnature

akeylevertomeetclimategoals

ClimateandNatureareinextricablylinked.One-thirdofthecarbonemissionsreductionsneededinthenextdecade,couldbeachievedbyconservingandrestoringforests,

peatlands,andothernaturalresourcesthatsequestercarbonemissions.Similarly,climatechangeandnaturelossalsoimpacteachanother.Theassessmentandmitigationofrisksthereforecanbenefitfromanintegratedapproach.

NaturePositiveOutcomes

IncreasedClimate

Change

Protectionandconservationofcriticalhabitatsandecosystemsprovidesbene?tstonaturebutcan

restrictclimatemitigationefforts

Example:Apermitforahydropowerplantisdeniedduetheprotectedstatusofariverandthelocalenergysystemremainsrelianton

fossilfuels.

01

Climatechangedrivesnaturelossasecosystemsareunabletoadaptandescapefromtheimpactsof

climatechange

Example:Increasedtemperaturesandreducedrainfallareincreasingtheincidenceofwild

?resabovenaturallevels,permanently

destroyingvulnerableecosystemsandwildlife.

03

IncreasedNatureLoss

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Emerging

regulations,

standardsand

frameworks

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Gettingstartedonyournaturejourney10

201520172019202020212022202320242025+

TCFD

TNFD

ISSB(GenReq./Climate-relatedDis.)

GlobalBiodiversityFramework

Global

CSRD

CSDDD

ECBGuide

EUTaxonomy

EUDeforestationRegulation***

Europe

SEC

US

Emergingregulations,standardsandframeworksprovide

bothrequirementsandtoolstohelptakeactionfornature

Thenatureagendaismovingatamuchfasterpacethan

wehavewitnessedwiththeglobalclimateagendaina

much-neededefforttocatchup.Governments,regulators,standardsettersandindustrybodiesarerespondingtothesignificantrisksposedbynatureloss—issuingnewglobalpolicies,regulations,standardsandtools.

KeydevelopmentsinthisspacearethelandmarkGlobal

BiodiversityFramework(GBF)adoptedin2023,aswell

asframeworksforcompaniestoassessanddisclose

onbiodiversityinthevaluechainsuchastheCorporate

SustainabilityReportingDirective(CSRD)andtheTaskforceon

Nature-relatedFinancialDisclosures(TNFD)recommendationsthathelpbusinessesassessanddisclosetheirnature-relatedimpacts,risks,dependenciesandopportunities.

Onagloballevel,thefirstIFRS?SustainabilityDisclosureStandardsmarkthenextsteptowardsequalprominenceforsustainabilityandfinancialreporting.It’sakeymilestoneintheInternationalSustainabilityStandardsBoard(ISSB)’svision—tocreateaglobalbaselineofinvestor-focused

sustainabilityreportingthatlocaljurisdictionscanbuildon.

IntheEU,theCSRDandtheupcomingCorporate

SustainabilityDueDiligenceDirective(CSDDD),EUNatureRestorationLawandEUDeforestationRegulation(EUDR)willallimpactthewaybusinesseshavetomanageand

addressbiodiversityintheirvaluechain.

Inthissection,thefollowingkeypolicies,regulationsandframeworksfornatureandbiodiversitywillbeexplored:

?GlobalPolicyFramework:GBF

?Internationalstandard:ISSB’sIFRS

?EUregulations:CSRD,CSDDD

?Voluntaryframeworks:TNFD,ScienceBasedTargetsforNature(SBTN)

Keyregulatoryandreportingtimelines

Natureandbiodiversityriskmanagementisanincreasinglysignificantexpectationforbusinessesasofend2023

globallyasclearerregulationsemerge.TherecentlylaunchedTNFDrecommendationsandEUDR,aswellasupcomingISSBTMstandardsandCSDDD,providecompanieswithclearrulestooperatewithin,andcanfacilitatetheinclusionofnatureinbusinessmodelsandstrategies.

Established/ConsultationResponseandlaunchofstandardCurrentregulationIncomingregulationVoluntarydisclosure

*ThePRAshowsbothSS319inblock,anddemonstratesthecurrentexploratoryworktheyareunde-rtakingtoquantifynature-related?nancialriskforUKplcandproviderecommendationstotheFinancialPolicyCommittee.

**Thetransitionplantaskforcehasreleasedguidanceontheimportanceofintegratingnatureintonetzerotransitionplans.

***Currentproposalsonlyapplytocorporatesandnot?nancedactivities,butarerelevantforbanksclientsandcustomers.

Theabovetimelinessetoutexpecteddatesforadoption,whichmayslip.Itshouldbenotedthatforsomea?rm’sinitialreportingmaybeupto12+monthsafterthesedates.

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Gettingstartedonyournaturejourney11

Twenty-threetargets:

Target1.Biodiversity-inclusivespatialplanning,“near-zeroloss”

Target2.Restore30%ofdegradednatureby2030

Target3.Conserve30%ofland,rivers,lakesandseasby2030

Target4.Haltandreversehuman-inducedextinctionofspecies

Target5.Stopunsustainableuse,harvest,andtradeofspecies

Target6.Reducealienspeciesspreadbyatleast50%by2030

Target12.Increasethearea,qualityandconnectivityofurbangreen/bluespaces

Target7.Reducepollutionrisksanditsnegativeimpactsonbiodiversitybyatleast50%by2030

Target8.GoalMinimizetheimpactofclimatechangeandoceanacidi?cationonbiodiversity

Target9.EnsurethatthemanagementanduseofwildspeciesaresustainableTarget10.Usingbiodiversity-friendlypracticesinagri-andaquaculture,?sheries,forestry

Target16.Halveglobalfoodwasteby2030andsupportsustainableconsumptionTarget14.Integrateandmainstreambiodiversityintoallpoliciesandregulations

Target11.Restoreandenhancenature’sgoodsandservicesthatarebene?cialforpeople

Target13.Fairandequitablesharingofbene?tsofgeneticresourcesby2030Target21.Ensurefairandequitableaccesstodata,technology,scienceandbene?ts

Target22.EnsurerespectandaccesstoindigenouscommunitiesandculturesTarget23.Ensuregenderequalityatalllevelsofaction,policyand

decision-makingrelatedtobiodiversity

Target15.Ensurethatbusinessesand?nancialinstitutionsmonitor,assessanddisclosetheirbiodiversityrisks,impactsanddependencies

Target17.Establishcapacityfortheimplementationofbiosafetymeasuresinallcountries

Target18.Phaseoutandeliminatebiodiversitydamagingsubsidies

Target19.Mobilize?nancialresourcestorestorebiodiversity>US$200billionperyearby2030

Target20.Strengthencapacitybuildinganddevelopmentforbiodiversityconservation

GlobalPolicyFrameworks

TheGlobalBiodiversityFramework

TheKunming-MontrealGlobalBiodiversity

Framework(GBF)isakeydevelopmentinthe

biodiversityjourney.AdoptedinDecember,2022,theGBFisaninternationalblueprintaimedat

haltingandreversingnaturelossby2030.Atotalof188governmentshaveendorsedtheGBFandarecommittedtoaddressingtheongoingimpactonbiodiversity.TheGBFstronglycallsfor‘urgentactiontohaltandreversebiodiversityloss’andsetsoutfouroverarchinggoalsfor2050:

1.Thatglobalnaturelossishaltedandputonthepathtorecovery;

2.Biodiversityissustainablymanagedforpresentandfuturegenerations;

3.Monetaryandnon-monetarybenefitsofbiodiversityareequitablyshared;

4.FinanceandresourcesaremobilizedandalignedtofullyimplementtheGBF.

Thesegoalsarethenunderpinnedby23specifictargets.

Governmentsarenowrequiredtotakethe

frameworkandtransposeitatthenationalleveltodemonstratetheirprogressandcontributionstotheframework.

AlmostalltargetsintheGBFarerelevantforbusinesses.InparticularTarget15outlines

expectationsforbusiness’reportingovertheirfullvaluechain.Itunderscorestheprivate

sector’scrucialroleinadvancingthegoals,emphasizingtheirclearresponsibilityto

contributetoitsachievement.

Fouroverarchingglobalgoalsfor2050:

Financeand

resourcesare

mobilizedand

alignedtofully

implementthe

GlobalBiodiversityFramework

Biodiversityis

sustainably

usedandmanagedforthebene?tofpresentandfuturegenerations

Themonetary

andnonmonetarybene?tsof

biodiversityaresharedfairly

andequitably

Naturelossis

haltedandonthewaytorecovery

A

D

C

B

Source:KPMGadaptedfromKunming-MontrealGlobalBiodiversityFramework,CBD(2023)

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Gettingstartedonyournaturejourney12

InternationalStandards

InternationalSustainabilityStandardsBoard

TheISSBaimstosetaglobalbaselineof‘sustainability-

relatedfinancialdisclosures’.Thistypeofdisclosureis

differentfrombroadersustainabilityreporting—e.g.GlobalReportingInitiative(GRI)standards—becauseitfocusesontheinformationneedsofinvestorsandconnectivitywithinformationinthefinancialstatements.

Thenewstandardsbecomeeffectivefrom1January2024,butitisforlocaljurisdictionstodecidewhetherandwhentomandateadoption.

The‘climatefirst’transitionreliefallowscompaniesto

reportononlyclimate-relatedrisksandopportunitiesinthefirstyear,andreportonallsustainability-relatedrisksandopportunitiesinthesecondyear.

TheISSBbelievesthereisapotentialneedforabiodiversityresearchprojectamidthefollowingreportingchallengesinmeetinginvestors’needs:

?Defining,organizingandcategorizingbiodiversity

topicsandsubtopicsinthecontextofbusinessandsustainability-relateddisclosures,andthelackof

consensusonprioritiesforstandard-setting;

?Theoverlapwithothersustainability-relatedrisksandopportunities—forexample,thoserelatedtoGHG

emissionsorsocioeconomicaspectssuchasaccesstowaterandland;

?Biodiversityrisksandopportunitiesvarysignificantlyamongvariousindustries,sectorsandgeographiclocations.

ToreadmoreonhowtoprepareforISSBsustainabilitydisclosure,pleaserefertoourreport“

GetreadyforISSB

SustainabilityDisclosures

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Gettingstartedonyournaturejourney13

CorporateSustainabilityReportingDirective

AttheEUlevel,theEuropeanUnion’sCorporateSustainabilityReportingDirective(CSRD)was

finalizedinDecember2022.Thedirectiverequiresdetailedreportingrelatedtoenvironmental,social,andgovernancetopics.ThepreparationofanESGreportthatmeetstherequirementsoftheCSRDcomeswithitsownchallengesandopportunities.

Thedoublematerialityassessmentisakeyelement

inCSRDreportinganddeterminestoalargeextent

thereportingscope.Companieswillhavetoidentify

theirimpactsanddependenciestobiodiversityand

naturealongthevaluechain.Ifanature-orbiodiversity-relatedissueisidentifiedasmaterial,amoredetailedassessmentshouldbeundertakentodeterminethe

implicationsforreporting.Formoredetailsonhow

toprepareforCSRDreporting,readourreport“

Get

readyfortheCorporateSustainabilityReporting

Directive

RelevantEURegulations

WillCSRDapplytomybusiness?

When:PhasedintroductionofCSRDwillstarton1January2024withlargePublicInterestEntities(PIEs),followedbyotherlargecompaniesin2025.

Who:Ultimately,ESRSswillbeappliedby(groupexemptionsmayapply):

?LargeEUcompanies:thosethatexceedtwo

ofthreecriteriaincludingEUandnon-EU

subsidiaries:250employees,netrevenueofEUR40mortotalassetsofEUR20million;

?Mostcompanieswithlistedsecuritieson

EU-regulatedmarkets(irrespectiveofwhethertheyarebasedintheEUornot—with

exceptions);and

?Ultimatenon-EUparentcompanieswitha

combinedgroupturnoverintheEUofmorethanEUR150million.

EUTaxonomy

TheEUtaxonomydescribesaframeworktoclassify

economicactivitiesassustainable.Itaimstocreateacommonlanguagetodirectinvestmentsineconomicactivitiesessentialforthetransition,aligningwith

theEuropeanGreenDealobjectives.Oneofthesix

environmentalobjectivescoversthe“Protectionandrestorationofbiodiversityandecosystems”.Tobeclassifiedasasustainableeconomicactivity,acompanymustnotonlycontributetoatleastoneenvironmentalobjectivebutalsomustnotviolatetheremainingones.

AlongsidetheEUTaxonomy,strategiesshould

complywiththeEUBiodiversityStrategyfor2030

andtheGBF.

CorporateSustainabilityDueDiligenceDirective

TheEuropeanCommissionhasagreedontheCorporateSustainabilityDueDiligenceDirective(CSDDD),aiming

tolegislativelybindcompanies,includingthosein

financialservices,toshowcasetheircommitmentto

environmentalprotectionandhumanrights.TheCSDDD,ifadopted,mandatescompaniestoidentify,prevent,andaddresstheactualandpotentialimpactsoftheiractivitiesontheenvironmentandhumanrights.

Thedirectiveaimstocultivatesustainablecorporatepractices,integratingbiodiversityconsiderationsintooperationalstrategiesandgovernance.

InalignmentwiththeEuropeanGreenDealandits

climateobjectives,theCSDDDadherestointernationalenvironmentalstandards,encompassingviolations

relatedtobiodiversity,suchasthehandlingofwasteanduseofbiologicalresources.CompaniescanproactivelyenhanceexistingpracticestoalignwithCSDDD.

FormoredetailsonCSDDD,refertoour

insightson

ourwebsite

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Gettingstartedonyournaturejourney14

Pillar

Disclosure

Governance

Strategy

Riskmanagement

Metricsand

targets

InternationalVoluntaryDisclosureFrameworks

TaskforceforNature-relatedFinancialDisclosures(TNFD)

TheTNFDprovidesaninstructiverisk-managementanddisclosureframeworkfororganizations.Therecommendationsaimtofacilitatetheintegrationofnatureinto

decision-makingprocessestodrivepositiveimpactsonnatureandbiodiversity.Theframeworkencouragesintegrateddisclosuresviafourpillars:governance,strategy,riskmanagement,metricsandtargets.

TNFDdisclosurerecommendations

TheframeworkbuildsonelementsoftheTCFDtoencourageamovetowardsintegrateddisclosures.

Theroleoftheboardanditsmanagementofnature-relatedrisksandopportunities

Strategicresponsetonatureintheshort,mediumandlongterm

Theintegrationofnature-relatedriskswithinriskmanagement

frameworks

Nature-relatedtargetsandmetrics

Pilotassessments

TheTNFDLEAPframeworkprovidesorganizationswithan

approachtonature-relatedriskandopportunityidenti?cation

andmanagement.

TheLEAPFramework

Locateyourinterfacewithnature

Evaluateyourdependenciesandimpacts

Assessyourrisksandopportunities

Preparetorespondtonature-relatedrisksand

opportunities

TheTNFDLEAPframeworkcanbeusedtocompletepilotassessmentswhichallowcorporatestogaindetailedinsightsintomaterialexposuretonatureacrossyourvaluechain.

ForadditionalinformationontheTNFDframework,pleasevisit

IntroducingtheTNFDbetaframework

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2ndreleaseofSBTsfornature

Subsequentreleases

1streleaseofSBTsfornature

Validationroll-out

2020

2023

2024

2025

2

Interpret&Prioritize

InternationalVoluntaryDisclosureFrameworks

ScienceBasedTargetNetwork(SBTN)

TheScienceBasedTargetNetwork(SBTN),a

collaborationofglobalnon-profits,aimstoprovidecompaniesandcitieswithacomprehensive

frameworkforsettingscience-basedtargetsfornature,encompassingbiodiversity,freshwater,land,ocean,andclimate.

ThisinitiativeexpandsontheexistingScienceBasedTargetInitiatives(SBTI),focusingonmeasurable,

actionable,andtime-boundobjectivesinformedbythebestavailabledata.ThenetworkstrivestoalignwithmarketinitiativeslikeTNFDandregulationssuchas

CSRDandGRI.Theframeworkinvolvesfivesteps:

1.Assess

2.InterpretandPrioritize

3.Measure,SetandDisclose

4.Act

5.Track.

Asajourney,itguidesorganizationsintransformingfromnegativetopositiveimpactsonnature.

Thefigureontheright-handsideshowstheroadmapfortheroll-outforSBTN.

SBTNRoadmap

Initial

guidance

1

Assess

3

Measure,

Set&

Disclose

Freshwater

Land

Biodiversity

Ocean

Climate

(Integrated

fr