Nature Positive Role of the Ports Sector

Spheres of control and influence FIGURE 3 Sphere of control Sphere of influenceSiteProductCorporate Value chainValue chain-adjacent areas SystemsDirect operationsUpstream Downstream Source: Adapted from Science Based Targets Network (SBTN). (2020). Science-Based Targets for Nature: Initial Guidance for Business, 2020. A credible corporate nature strategy should be built on four high-level steps: assess, commit, transform and disclose35 (see Figure 4). Businesses can and should act now to: –Assess: Conduct an initial materiality assessment to prioritize efforts; identify, measure, value and prioritize impacts and dependencies on nature; assess risks and opportunities; and consider climate and people within nature assessments. –Commit: Define ambition and goals, and set transparent, time-bound, specific, science- based targets to put companies on the right track towards operating within the Earth’s limits. –Transform: Avoid and reduce negative impacts; restore and regenerate; shift business strategy and models; collaborate, both along value chains and at a landscape, seascape and river basin level; advocate for ambitious policies and initiatives; and embed nature within corporate governance. –Disclose: Disclose material nature-related information across all three high-level actions above; seek out independent validation and verification to enhance the credibility of actions; and align reporting with major reporting standards such as TNFD, International Sustainability Standards Board (ISSB) or the EU’s CSRD recommendations. Momentum is building. In May 2023, 17 companies started a target validation pilot for the SBTN methods.36 For more details, companies can refer to the Nature Strategy Handbook, a practical guide to support all businesses in developing a nature strategy. Nature Positive: Role of the Port Sector 11