Companies pledge action to stop biodiversity loss in new initiative

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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