This is why we joined the Science Based Targets initiative (SBTi) in 2017 and set a GHG-emissions reduction target in line with the Paris Climate agreement in 2019.
Read more about our target and progress here.
Building on the momentum of the SBTi, the Science Based Targets Network (SBTN) is working to provide guidance for companies and cities to stay within all of the planetary boundaries. This means setting targets on water, land, ocean, and biodiversity on top of existing climate targets. Science Based Targets for Nature are needed next to climate targets because currently nature loss is worsening climate change and vice versa. The SBTN aims for the world's major cities and companies to have adopted science-based targets on all areas by 2025. Corbion supports this initiative and is actively involved in the development process through the Corporate Engagement Program. As a member of this program, we actively contribute to the development of these targets through testing of and providing feedback on the intermediate guidance documents.
The process of target setting has been divided by the SBTN into five steps: assess, prioritize, measure, act, and track. As part of the CEP, we have committed to complete step 1: assess, by the end of 2021. This means putting together a long list of all of our impacts on the different pressure categories in all five nature-related issue areas. The issue areas are identified by the SBTN as being Land/Water/Sea use change, Resource exploitation, Climate change (covered through SBTi), Pollution, and Invasives and other.
Around the end of 2022/start of 2023 the SBTN will publish a final guidance for all companies on how to set targets for all identified issue areas. We will continue working with the CEP in testing and developing these guidelines and aim for setting targets on all issue areas material to us after the launch of the official guidelines.