I have also been involved in a number of projects which have taken a similar approach, also ultimately based upon Johan Rockstrom's planetary boundaries concept. The term "Science Based Targets" is becoming popular in the commercial world as a way of adding some rigour to corporate target setting, following a phase of "finger in the air" approaches.
Projects with a related approach include the following. Note that you can apply the same reasoning to a company, sector or a country.
Here we talked about the UK diet, based upon analysis that assessed the GHG, land and water impact of our diet and put this in context of their respective boundaries.
Similarly, we also worked with Public Health England to assess the relative impact of diets that conformed to the old and the new Eatwell Guide. This assessment showed how much better the new Guide performed against the physical boundaries for GHG, water and land - whilst still leaving a number of challenges given all the other activities we do other than eating!