The Science Based Targets Network (SBTN) has announced the appointment of the Accountability Accelerator to host validation of its corporate science-based targets for nature.
As SBTN’s interim assurance provider, the Global Commons Alliance Accountability Accelerator (GCAAA), will evaluate each company submitting science-based nature targets for validation through an independent expert review process.
The process will check companies’ compliance against requirements to make sure their targets are robust and in line with science, supporting the public claims companies can make once their targets are validated.
Erin Billman, Executive Director of Science Based Targets Network, said, “Achieving global net-zero ambitions won’t be possible without halting and reversing nature loss. Science-based targets for nature are a vital means for enabling companies to take ambitious, measurable action on climate and nature in tandem, for the long-term resilience of business, people and planet.
“The Accountability Accelerator becoming host of SBTN’s target validation process marks a vital step in safeguarding the integrity of the targets and ensuring an independent and rigorous evaluation process.”
Open call to companies
SBTN and the Accountability Accelerator are also opening a call for Expressions of Interest from companies interested in using the upcoming target validation services to set science-based targets for nature. The intent is to evaluate their readiness to set targets, and to inform validation team resourcing. Motivated companies are encouraged to step forward and be at the forefront of setting ambitious science-based targets for nature.
Companies who are not yet ready to set science-based targets for nature can still use SBTN’s technical guidance to help them assess and prioritise their impacts on nature, preparing them for future target setting. SBTN will also release updated methods and supporting guidance following the conclusion of its corporate pilot mid-year. Detailed insights and outcomes from the pilot will also be shared later this year.
Rigorous assessment
As SBTN’s target validation services prepare to launch, the Accountability Accelerator is finalising its governance model, building a dedicated platform to facilitate companies’ target submissions and validations, and recruiting and training its validators.
SBTN and the Accountability Accelerator are both integral components of the Global Commons Alliance, working together to mobilise companies towards a safe and just future for people and the planet.
Natasha Matic, Executive Director, Accountability Accelerator, said, “SBTN’s need for independent validation of science-based targets for nature aligns well with our commitment to a strong corporate accountability ecosystem. Our existing relationship as part of the Global Commons Alliance also means we have complementary but distinct wider goals and ambitions.
“Through our rigorous assessment and compliance processes, we will support companies to play an important role in creating an equitable, nature positive, net-zero future using science-based targets for nature.”
Validation process
The Accountability Accelerator will host the external validation process for an interim period of two to three years. During this period, it will ensure a clear separation between method development and validation, while allowing SBTN to monitor and learn from the process.
Two new bodies to ensure robust accountability process oversight and learning will be created: the Integrity Council, and the Learning Committee.
The Integrity Council will act as the governance body for the validation function, ensuring due process is followed in all validation activities, approve strategic validation decisions, and play an active role in complaints and appeals of the validation process. This council will be independent from both the Accountability Accelerator and SBTN councils.
The Learning Committee will act as SBTN’s primary interaction with the validation function, with learnings passed on to method developers and vice-versa.