TNFD gains momentum with 320 organisations committing to nature-related disclosures
The Taskforce on Nature-related Financial Disclosures (TNFD) recently announced that 320 organisations from over 46 countries have pledged to initiate nature-related disclosures based on TNFD Recommendations, which were released in September last year.
This inaugural cohort of TNFD adopters comprises leading publicly listed companies with a cumulative market capitalisation of US$4 trillion, over 100 financial institutions representing US$14 trillion in Assets under Management, and various market intermediaries.
The TNFD, initiated in June 2021 with G20 and G7 support, aims to address nature-related financial risks and opportunities. The recommendations, published after a two-year design and development process, align with the Global Biodiversity Framework and integrate with new sustainability reporting standards by the International Sustainability Standards Board (ISSB).
The TNFD Recommendations, structured similar to the Taskforce on Climate-related Financial Disclosures (TCFD), encompass 14 disclosures focusing on nature-related issues.
Commenting on this milestone, David Craig, Co-Chair of TNFD, highlighted the collective acknowledgment by investors, lenders, insurers, and companies of the strategic importance of nature and climate to their business models and portfolios.
For more details and insights, see the TNFD’s press release.
