To achieve effective climate action, companies around the globe are increasingly turning to science-based targets as part of their sustainability strategies. The Science Based Targets Network (SBTN) plays a pivotal role in helping businesses set targets that not only align with global climate goals but also address the pressing need for nature-positive action. By aligning with SBTN targets, companies can drive meaningful progress toward reducing their environmental impact and ensuring long-term sustainability. The SBTN framework offers businesses clear guidelines for setting ambitious, science-based targets that contribute to both climate and biodiversity goals.
As organizations worldwide work to meet their environmental commitments, tools like refinq provide essential resources for companies striving to meet SBTN targets. With its advanced risk assessment tools, refinq helps enterprises assess environmental impacts in real time, ensuring that their climate strategies are grounded in science and aligned with the SBTN framework. As sustainability efforts continue to grow in importance, understanding how to integrate these targets into corporate strategies is essential for success.
The Science Based Targets Network (SBTN) provides businesses with a framework to set science-based targets for nature, climate, and biodiversity. This approach ensures that companies’ environmental goals are aligned with the latest climate science and the global push to limit global warming to well below 2°C, with a target of 1.5°C, as outlined in the Paris Agreement.
SBTN targets are crucial because they help businesses quantify and manage their environmental impacts in a manner that is both measurable and actionable. By aligning with SBTN targets, companies ensure that they are not only addressing climate change but also contributing positively to the health of the natural environment, such as forests, oceans, and biodiversity. The integration of climate and biodiversity into corporate strategies creates a more holistic approach to sustainability, which is essential in today’s evolving regulatory and environmental landscape.
Companies looking to align their climate strategies with these global targets can use resources such as refinq, which provides advanced tools for assessing climate and biodiversity risks, ensuring that their efforts are in line with SBTN standards. Additionally, the Science Based Targets Network offers resources to help companies effectively set and measure their targets.
One of the core principles of the SBTN framework is the emphasis on nature-based solutions, which integrate the health of ecosystems and biodiversity into the climate action agenda. These solutions can include activities such as reforestation, sustainable agriculture, and ecosystem restoration, all of which contribute to mitigating climate change while supporting biodiversity.
To align with SBTN’s nature-based goals, companies can use tools like refinq’s biodiversity risk assessments to understand how their operations impact ecosystems. refinq’s platform helps companies assess the potential environmental risks associated with their operations and provides insights on how to integrate biodiversity into their sustainability plans. By taking a nature-positive approach, companies can create more sustainable business models that contribute to both climate action and biodiversity conservation.
SBTN provides companies with the guidance needed to set science-based climate targets. These targets must be rooted in the latest climate science and should be in line with global goals to limit warming. Targets should be specific, measurable, and aligned with the Science Based Targets Initiative (SBTi), which provides guidelines for companies to ensure their goals are both ambitious and achievable.
Businesses seeking to align their strategies with SBTN can use refinq for footprinting analysis, which calculates a company’s carbon footprint and helps them track progress toward achieving climate targets. refinq’s platform provides a comprehensive overview of carbon emissions, enabling businesses to make data-driven decisions about their climate strategies. By setting clear science-based targets, businesses can demonstrate their commitment to reducing their environmental impact and contribute meaningfully to global climate goals.
Aligning with SBTN targets requires businesses to integrate climate risks into their overall corporate strategy. This means assessing both physical and transition risks posed by climate change and implementing strategies to mitigate them. Companies that successfully integrate climate risk into their operations are better prepared for the future, ensuring long-term business resilience while contributing to climate action.
refinq offers portfolio impact analysis tools that help companies assess the climate risks associated with their operations. These tools allow businesses to understand the potential future impacts of climate change on their assets and prioritize actions accordingly. With access to such detailed data, companies can develop strategies that minimize environmental risks, enhance their sustainability, and align with SBTN targets.
Before setting SBTN-aligned targets, companies should first conduct a thorough assessment of their environmental impacts. This includes evaluating both direct and indirect contributions to climate change and biodiversity loss. Understanding these impacts is crucial for setting realistic and effective targets that are in line with SBTN’s guidelines.
With platforms like refinq, businesses can gain a comprehensive understanding of their environmental risks. refinq’s due diligence solutions provide real-time data that helps companies evaluate the risks associated with their operations, supply chains, and investments. These assessments are critical for making informed decisions and setting targets that drive meaningful climate action.
Once the environmental impact is understood, companies should set clear science-based targets that align with the SBTN framework. These targets should be ambitious yet achievable and based on the latest climate science. To help businesses set and track these targets, refinq offers benchmarking tools that allow companies to compare their progress with industry standards and best practices. By regularly assessing their progress, businesses can ensure they remain on track and make necessary adjustments to their strategies.
To meet their SBTN targets, companies must implement strategies that address both climate mitigation (reducing emissions) and adaptation (preparing for the impacts of climate change). This includes adopting sustainable practices, reducing carbon emissions, and integrating nature-based solutions into operations.
By using tools like refinq’s climate risk analysis, businesses can evaluate the effectiveness of their mitigation and adaptation strategies. These tools allow companies to forecast future climate risks and make proactive decisions to minimize their impact. Implementing these strategies is essential for businesses that aim to meet SBTN targets and contribute to global climate goals.
refinq offers a suite of tools that make it easier for companies to align with SBTN targets for climate action. With its comprehensive risk assessment capabilities, refinq allows businesses to assess both climate and biodiversity risks, ensuring that their sustainability efforts are aligned with SBTN guidelines.
The platform’s data integration capabilities—processing over 2.5 billion data points—help businesses gain actionable insights into their environmental impacts, identify areas for improvement, and develop data-driven strategies for reducing emissions and enhancing biodiversity. Additionally, refinq’s tools help businesses set and track science-based targets, ensuring they meet SBTN standards and contribute to a sustainable, low-carbon economy.
Aligning with SBTN targets is a critical step for businesses committed to driving meaningful climate action and supporting biodiversity conservation. By setting science-based targets, integrating climate and biodiversity risks into corporate strategies, and using advanced tools like refinq, companies can contribute to global sustainability goals while ensuring long-term business resilience. As businesses continue to face growing pressure to meet environmental expectations, aligning with SBTN targets provides a clear and actionable framework for success.