Nature at the core of business: New WWF report addresses credibility of corporate nature targets

Posted on October, 15 2024

Companies must move quickly and commit to setting comprehensive nature targets, with well-developed methodologies and frameworks now ready to guide their efforts. A new WWF report offers methodological recommendations for establishing strong corporate nature targets that respond to the current need for bold action.

Under the Corporate Sustainability Reporting Directive (CSRD), companies are required to disclose their nature-related targets and voluntarily indicate whether they align with the Kunming-Montreal agreements. Entitled "Corporates Nature Targets: Ensuring the Credibility of EU-Regulated Commitments", this report provides a detailed overview of corporate obligations regarding nature targets and complements them with recommendations aimed at setting ambitious and credible objectives. It also assesses the alignment of the Science-Based Targets for Nature (SBTN), a voluntary initiative promoting ambitious action for nature in the private sector, with EU legal requirements under the CSRD.

According to Antoine Pugliese, Head of Sustainable Finance at WWF France: “Companies must take immediate and decisive action to set comprehensive nature targets, as the methodologies and frameworks are now sufficiently mature to guide this process. The time for hesitation has passed and there is no longer any excuse for inaction. This report examines how companies, auditors, and supervisors must ensure the credibility of nature objectives as the cornerstone of a robust transition plan.”

Sebastien Godinot, Senior Economist at WWF EU said: “For companies, setting credible nature targets is no longer a ‘nice to have’ but an urgent necessity. The science is clear, and the regulatory expectations are catching up fast. Future resilience and competitiveness rely on credible and comprehensive nature targets, and delaying this process increases environmental damage and  financial stability risks.”

WWF recommendations:

1. Encouraging the adoption of SBTN-validated targets: WWF recommends that EU institutions, Member States, regulators, and auditors encourage companies to adopt SBTN-validated nature targets to ensure compliance with CSRD and improve transparency regarding their environmental impact.


2. Developing a robust regulatory framework: The EU should establish a regulatory methodological framework to ensure credible and comparable nature targets aligned with international commitments, such as the Kunming-Montreal Global Biodiversity Framework.


3. Implementation of a measurement and verification (MRV) process: European regulators should swiftly implement a robust process for measuring, reporting, and verifying corporate nature targets to ensure their credibility and effectiveness.

WWF calls for the swift adoption of these recommendations to strengthen the ambition and credibility of corporate nature targets, in alignment with the EU’s 2030 environmental goals, the European Green Deal, and the promotion of long-term ecological resilience and financial stability.

Notes to editor:

The report highlights that the CSRD mandates companies to set nature targets in areas such as pollution, water resources, biodiversity, and the circular economy. These targets must be science-based and aligned with ecological thresholds as much as possible. Additionally, companies must provide full transparency on their target-setting methodology and state whether their goals align with the Kunming-Montreal Global Biodiversity Framework.

The SBTN is identified as the gold-standard framework for setting nature-based targets. It enables companies to establish scientifically measurable objectives covering various aspects of nature, including terrestrial and aquatic ecosystems. The report also proposes a target hierarchy to start actions and supports compliance with CSRD requirements, enhancing the credibility of corporate nature commitments. In addition, WWF stresses that setting targets is only the first step; comprehensive nature transition plans are necessary for a full ecological transformation.

This report follows a similar WWF report on Corporate Climate Targets and will be followed by a complementary report on Corporate Nature Transition Plans.
Companies must take immediate and decisive action to set comprehensive nature targets.
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