Our key takeaway: We reported previously on the importance of COP15 in Montreal last year, and how this would herald a new wave of scrutiny on biodiversity risks. The Taskforce on Nature-related Financial Disclosures (TNFD) has just released its final beta framework for nature-related risk management and disclosure. The idea? Enable companies to disclose how they are identifying, assessing and disclosing their nature-related issues. Enable investors to compare across companies how well they are doing in considering nature-related issues. Enable the market to respond to Target 15 of the Global Biodiversity Framework that relates to corporate reporting. And push companies to do better when it comes to considering nature, similar to what the TCFD is doing for climate. You can road test it and provide comments - the consultation is open until 1 June 2023. If you’re not sure yet why the focus on business and nature is on the rise, take a look at our Content Hub - tag biodiversity.
The Taskforce on Nature-related Financial Disclosures (TNFD) released its fourth and final beta framework for nature-related risk management and disclosure (March 2023). You can find the executive summary here and the TNFD dashboard here. The current framework is open for consultation until 1 June 2023.