Accountability Accelerator and Deloitte: Collaboration for Nature Action
03/10/2024
The Accountability Accelerator and Deloitte are excited to announce a collaboration aimed to streamline and digitize the validation process of science-based targets for nature. The Science Based Targets Network (SBTN), also part of the Global Commons Alliance, announced this year that the Accountability Accelerator will host the validation function to ensure independent review of targets until a new validation model is established. Deloitte’s involvement aims to streamline and digitize the SBTN’s independent validation process. This includes optimizing the entire data lifecycle, from the submission of targets for validation to the completion of a validation report, through the development of a robust and user-friendly digital platform. Ultimately, this will support companies in taking credible action for nature by starting their target-setting process.
SBTN’s vision for nature action
Nature is the backbone of human well-being and the foundation for all economic activity. The complex connection between nature and climate demands unified action, to stabilize the climate, preserve freshwater resources, regenerate land, secure a healthy ocean, and protect biodiversity. As a network of organizations, SBTN is working to shape private sector impacts on nature by using science-based targets to address impacts on freshwater, land, ocean, biodiversity, and climate, reducing and improving their impact on nature and society.
SBTN’s framework involves five steps: 1) Assess, 2) Prioritize, 3) Set Targets, 4) Act, and 5) Track. The first two steps help companies assess and prioritize their environmental impacts and then set targets, beginning with freshwater and land.
From submission to targets: Accountability Accelerator Validation Platform
SBTN and the Accountability Accelerator are preparing to launch validation services early next year. Over the past eight months, Deloitte and the Accountability Accelerator have prepared a functional solution for target validation that is robust, secure, and user-friendly for validators and companies to use. Deloitte’s involvement has been critical in shaping and implementing robust data management, including the data governance, architecture, quality management and security and compliance, essential for operational success and decision-making. Deloitte led the definition and implementation of the data strategy, structured around a phased approach, featuring collaborative efforts between Accountability Accelerator, Deloitte, and the platform vendor, 3rdRisk Cloud Platform.
This resulted in the establishment of a state-of-the-art Validation Platform, enabled by 3rdRisk Cloud Platform, streamlining the target submissions and validation process. This platform is designed to digitize the entire process of data submission, validation, assessment and feedback issuance for companies setting science-based targets for nature.
The platform offers several key features designed to:
- Centralize the entire process of data submission, validation and assessment issuance.
- Ensure a consistent data submission process that facilitates a smooth and fast initiation.
- Utilize a secure data-sharing environment with strict security measures to protect sensitive company data.
- Introduce a sophisticated Queries Log system for companies and validators to interact, ensuring clear and timely feedback and resolution of issues.
- Handle increasing volumes of assessments as more companies set science-based targets for nature, maintaining performance without additional strain on resources.
September highlights
We are thrilled to announce that this collaboration will culminate in the official completion of the Accountability Accelerator Validation Platform in November 2024. The collaboration between the Accountability Accelerator and Deloitte underscores a shared commitment to driving sustainability and creating robust validations for companies worldwide. By leveraging Deloitte’s innovative approaches and the Accountability Accelerator commitment to enhancing corporate accountability, we are paving the way for the implementation of science-based targets to reduce businesses’ impacts on nature and society.
As of now, 17 companies have piloted the first science-based targets for nature. The insights from these companies served as basis for the updated SBTN technical guidance published in July. Throughout the pilot, these companies emphasized multiple benefits for using SBTN’s technical guidance. SBTN shared the outcomes of the pilot at NY Climate Week, demonstrating that science-based targets for nature offer a credible pathway for companies to take ambitious action for nature, with the majority of participating companies receiving validation for some or all their targets.
Stay tuned for more updates and witness the launch of validation services supported by the Accountability Accelerator Validation Platform – the next chapter in nature target-setting.
“Working closely with Deloitte’s team over the past months, I am confident that the new platform will make the validation process more efficient, robust and intuitive for companies and validators. With Deloitte’s expertise on data management, we have found a solution that will sets us up for a sprint start of validations.
Paola Delgado Luna
Validation Director, Accountability Accelerator
“Our joint effort with Accountability Accelerator has successfully translated and embedded the dynamic process of science-based target validation for nature into a practical and user-friendly platform. This collaborative achievement empowers companies to set credible nature targets. We eagerly anticipate their continued success and the contribution to a sustainable legacy for all.”
Peter Schaap
Partner, Deloitte
