· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:
🗞️ Driving the news: Kering, GSK, and Holcim are the first companies to adopt biodiversity-focused, science-based targets set by the Science Based Targets Network (SBTN)
• The goals primarily address protecting land and reducing freshwater use, marking a step toward reversing biodiversity loss from corporate practices
🔭 The context: Formed by over 80 NGOs and 100 companies, SBTN offers guidelines for businesses to curb their impacts on ecosystems, with strategies like recycling water and avoiding ecosystem exploitation
• These commitments align with discussions at the COP16 summit in Colombia, where global leaders are seeking practical frameworks to fund and prioritize nature preservation
🌍 Why it matters for the planet: Biodiversity is essential for ecosystem resilience and supports half of the global GDP, according to the World Economic Forum
• Corporate adherence to these targets can reduce environmental degradation, promote sustainable resource use, and provide positive nature impacts
⏭️ What's next: The SBTN will expand its targets to include marine biodiversity protection, aligning with other frameworks like the Taskforce for Nature-Related Financial Disclosures (TNFD)
• The second week of COP16 will continue negotiations on financing nature conservation and increasing indigenous involvement in ecosystem protection
💬 One quote: “Companies that set science-based targets for nature… build resilience in critical sourcing areas by keeping nature intact” — Martha Stevenson, WWF US
📈 One stat: Wildlife populations have decreased by 73% over the past 50 years due to habitat loss, per the World Wildlife Fund
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