The Science Based Targets Network (SBTN) has launched a corporate pilot to develop the first scientific targets for seafood value chain impacts, ahead of the full roll out in mid-2025.
SBTN’s Ocean Hub, co-led by non-profits WWF and Conservation International, will pilot the methods in the next few months with four companies – Carrefour, Mars Petcare, Bolton Foods, and Musholm A/S.
“Pressures on the ocean’s health pose great risks to our economies, our societies, and the environment. To halt and reverse the damage, companies that have widespread environmental footprints on marine ecosystems and fisheries have a key role to play,” SBTN said in a statement.
“By directly engaging industries such as the seafood sector in setting science-based targets for nature, SBTN provides these companies with an opportunity to reduce their pressures from ocean-related activities and implement sustainable practices with far-reaching environmental benefits.”
SBTN opened applications in February, seeking to collaborate with companies sourcing seafood directly or upstream.
Initial participants were selected based on criteria such as readiness, how representative a company is in terms of the sector, and the geography of the target.
The pilot is expected to run until July, with companies required to collect data throughout the process and submit the results of their piloting by the end of Q2 of 2024.
After all feedback is gathered, guidance will be prepared for public comment. The general launch is scheduled for the spring of 2025.
FOUR HUBS
SBTN, a global initiative working to establish scientific objectives for nature conservation and restoration, has dedicated hubs focusing on developing targets for freshwater, land, biodiversity, and oceans.
In May 2023, it launched a separate pilot to set targets for ecosystem protection and restoration, freshwater use, and freshwater pollution.
Enabling companies to develop high-quality scientific targets for their impacts on nature is poised to raise corporate awareness on the biodiversity crisis, while also driving demand for nature credits.
“A science-based approach is needed to inform targets and incentivise action for companies,” the SBTN Ocean Hub said on its website.
“Through science-based targets for nature, companies can contribute, proportionately and holistically, to building resilience in ocean ecosystems and coastal communities, ensuring the ocean’s health is regenerated.”
Enhancing the conservation of marine ecosystems is among the main goals of the Kunming-Montreal Global Biodiversity Framework, which sets out the target of protecting at least 30% of land and seas by 2030.
The Marine Conservation Institute estimated that less than 3% of the ocean is effectively protected.
By Sergio Colombo – sergio@carbon-pulse.com
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