Verra’s Post

Science Based Targets Network’s new and updated guidance for companies to set science-based targets for nature is here. Companies play a critical role in achieving a #NaturePositive future, and this guidance enhances the feasibility and practicality of SBTN’s methods while maintaining ambition and scientific rigor. SBTN’s target validation pilot has highlighted key benefits of target-setting and reinforced that SBTN is closing a critical gap in corporate sustainability, including: 🌟 Increasing ambition and driving science-based action on nature 🤝 Providing credibility and a common language to advance engagement with stakeholders 🧭 Acting as a trusted compass for companies to get to the right solutions Stay tuned for more updates from SBTN in September, when they'll share key outcomes and lessons learned to pave the way for the next generation of targets. Click below to explore the latest updates and resources.

Project Frame's first future emissions impact assessment case study developed by its Content Working Group is live!    Frame's 2023-24 Content Working Group, which includes Prime's Michael Solomentsev, these case studies allow us to take a look at forward-looking #GreenhouseGas impact assessment in practice and invite us to reflect on important questions like how do we select the best data source for our analysis. Head over to Frame's page to learn more!

I look forward, no pun intended, to working with W E Forward, on scaling innovation that positively impacts water and energy resources in all manufacturing....especially in our state's dairy processing arena. There are major opportunities for thought leadership in this group to impact on our environment and economy. #watercouncil #CDR #dairy #circularbioeconomy #energy #water #whey

Pioneering companies representing sectors and supply chains significantly impacting nature have been on a unique journey since May 2023, to pilot the first-ever science-based targets for nature. 👇 Peter Vanham at Fortune interviews Erin Billman to summarize four key initial insights from these companies, which were gathered during the ongoing pilot through a combination of workshops, interviews and anonymized surveys: 🚀 As companies move through the target-setting process, they tend to raise their nature ambitions. For example, one company realized that forests are just one of several ecosystems that it affected - so it should also address how it is negatively impact others, like peatlands. 🔎 Companies reported that setting science-based targets for nature leads to measurable benefits including uncovering hidden risk in their value chain. Erin Billman said this comes down to improved understanding of their value chain impacts on nature, which requires companies to "increase their upstream traceability, working more closely with their suppliers". ⚖️ The process requires balancing rigor and feasibility, as Erin Billman explained: “To change the status quo, things have to be done differently, but we have to meet leading companies where they’re at.” 🛠️ This work demands specific, often highly technical skills that should be developed in-house or tapped external resources like NGOs or consultants. One company chose to build capability in-house and leverage partners to check their work. (Read more: https://lnkd.in/g9N9jryt) ➡️ With 160 more companies waiting in the wings to join the pilot companies in setting #ScienceBasedTargets #ForNature, learn more about how you can get started as a company: https://lnkd.in/enXegWGt 🔗 Read the article on Fortune (paywall) ⬇️ https://lnkd.in/g9N9jryt #SBTN #NaturePositive #ScienceBased #NatureAndClimate #NatureAction #EcologicalEmergency #GlobalCommons #SafeAndJust

Very interesting article on what the nature target-setting corporations have done one year after making their commitments. The challenges are the same, regardless of your business size or sector 🌳supply chain visibility 🌳access to data 🌳in-house capabilities It’s progress and all directionally correct. We just need more organisations engaging, learning and sharing on both global and national levels. The transition to #NaturePositive will be a succession of small incremental changes and continuous improvement. We know it won’t happen overnight. #bizbioirl #joinTheEvolution

A-Track is a new four-year, €11 million project that will accelerate action for nature by business, financial institutions and government.   A-Track is working with leading thought leaders and practitioners who have been driving change in the measurement and valuation of natural capital and biodiversity. Existing tools and approaches are being brought together and developed further to enable businesses, financial intuitions, and governments to accelerate action for nature. As a partner in A-Track, we are looking forward to working with the consortium to accelerate the use of natural capital approaches in decision making across Europe. Our role in the consortium includes developing biodiversity information pathways. Our aim is to demonstrate how the combination of private and public sector information can be used to support decision making and the use of various applications at corporate and government levels.   We are looking forward to collaborating with the Capitals Coalition, VITO, TECNALIA Research & Innovation, Oppla, UNEP-WCMC, University of Stuttgart, Cambridge Institute for Sustainability Leadership (CISL), ICAEW and the WBCSD – World Business Council for Sustainable Development. Find out more at: https://a-track.info/ #NaturalCapital #NaturalCapitalAccounting #Europe #Environment #NaturePositive #Biodiversity 🌱 *Measuring the benefits of nature* 🌳

WEC day number 2 has started! I attended a very interesting panel on how to build successful ecosystems. These are a few key points that I took away when embarking innovative projects in ecosystems: ➡️Strike balance between uncertainty and risk by having the right cross-sector experts on the table ➡️Instead of looking at the total addressable market, look at the total addressable problem ➡️Find balance in sharing risk and costs between partners #WEC2024 #RedesigningEnergy #EnergyTransition #Sustainability

In 2024, carbon markets are coming of age, and this year’s S&P Global Commodity Insights Global Carbon Markets Conference promises to be nothing short of transformative! 74 Days left to join us in Barcelona and only 2 weeks left to benefit from the early-bird rates until October the 4th!

🎯✅ Are you ready to set science-based targets for nature? Forward-thinking companies are. One pilot company reported that the targets are "credible, robust, logical and prescriptive" – so what are you waiting for? 👇 In May 2023 a target validation pilot commenced with a group of companies that were required to prepare and submit freshwater and land targets for validation, in alignment with the previous version (2023) of SBTN’s methods.🌊⛰️ The scope of the pilot validation included the following steps: Step 1️⃣: Assess – an integrated assessment method to identify key issues and locations to focus on for target setting. Step 2️⃣: Interpret and Prioritize – a method for prioritization of target setting, using a mix of environmental, social, and financial considerations. Step 3️⃣: Measure, Set, Disclosure – methods for setting land and freshwater targets, addressing some of the dominant drivers of biodiversity loss and climate change. The pilot concluded in June 2024, and our summary report provides an overview of the pilot itself, with initial learnings, key benefits and insights into best practices shared by the group of forward-thinking companies. 📝 🔗 Read the pilot summary report: https://lnkd.in/eQ-H9ndV ➡️ Learn more about setting science-based targets for nature in our corporate target-setting guide: https://lnkd.in/dCPqXV76 We are deeply grateful to our piloting companies, supporting consultancies and NGO partners for their participation in the first year of setting corporate science-based targets for nature. Looking ahead, we look forward to sharing full outcomes and strategic insights beginning in September 2024, as well as highlighting piloting companies’ experiences.🌱 #ScienceBasedTargets #ForNature #SBTN #NaturePositive #SafeAndJust #ScienceBased #NatureAndClimate #EcologicalEmergency #GlobalCommons