Effective nature work

All business depends on the existence of biodiversity and healthy ecosystems – either directly or indirectly through supply chains. In addition to challenging societal well-being, the ever-accelerating global biodiversity loss also poses significant risks to the future operating conditions of businesses. In order to tackle these challenges, many Finnish companies have in recent years launched efforts to study and reduce their impacts on nature. At present, various tools, frameworks, indicators and reporting guidelines are being developed to support the nature work of companies.

The international Science Based Targets Network (SBTN) is currently in the process of developing guidelines for companies and cities for setting science-based targets for nature. The guidelines are a response to the need expressed by companies to find practical tools for promoting truly effective and comparable nature work. A milestone of this work was Science-based Targets for Nature Version 1, which was released in May 2023. Science-based targets (SBTs) are measurable, actionable and time-bound objectives, based on the best available science, which allow those aiming for them to align with the planetary boundaries and societal sustainability goals.

The purpose of the framework developed by SBTN is to provide companies with a straightforward path to adapting their operations to the limits set by the earth’s carrying capacity, while also strengthening the sustainability and long-term competitiveness of the company. In 2015, the Science Based Targets initiative (SBTi) published similar guidelines for climate targets, which has already helped nearly 3,000 companies worldwide to set science-based targets for emission reductions. These targets feed into the science-based targets for nature.