🌿 As momentum around sustainability reporting accelerates, we are witnessing an increasing uptake from businesses across various sectors. 🔖 The importance of TNFD's widely applicable recommendations cannot be underestimated. They help businesses bring alignment and consistency while navigating the complexities of various standards and regulations. 💻 IBAT's datasets, along with the newly launched Disclosure Preparation Report, help you ease through TNFD's recommendations: ➡ Supporting the preparation of the LEAP approach. ➡ Authoritative and robust biodiversity data for determining dependencies and impacts on nature. ➡ Alignment with regulations, standards and frameworks like TNFD, GRI and CSRD. ➡ Access to the latest data and simplified outputs. Learn more: https://lnkd.in/eiFPSgur or drop us a line at ibat@ibat-alliance.org
𝐖𝐡𝐚𝐭 𝐢𝐬 𝐨𝐮𝐫 𝐚𝐩𝐩𝐫𝐨𝐚𝐜𝐡 𝐭𝐨 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐢𝐭𝐲❓ It is our goal at TNFD to make our recommendations applicable to as many market participants as possible. The TNFD recommendations have been designed to be relevant across jurisdictions and the different approaches to materiality in use. ◼️ 𝐒𝐭𝐚𝐫𝐭 𝐛𝐲 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐢𝐧𝐠 𝐝𝐞𝐩𝐞𝐧𝐝𝐞𝐧𝐜𝐢𝐞𝐬 𝐚𝐧𝐝 𝐢𝐦𝐩𝐚𝐜𝐭𝐬 𝐨𝐧 𝐧𝐚𝐭𝐮𝐫𝐞 We recommend that all organisations start their assessment by considering their dependencies and impacts on nature; understanding dependencies and impacts is fundamental to understanding nature-related risks and opportunities. The report preparer can then apply their approach to materiality to the results of this analysis according to their preferences, regulatory requirements and the needs of intended report users. ◼️𝐀𝐩𝐩𝐥𝐲𝐢𝐧𝐠 𝐚𝐧 𝐢𝐦𝐩𝐚𝐜𝐭 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐢𝐭𝐲 𝐚𝐧𝐝 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐢𝐭𝐲 𝐚𝐬𝐬𝐞𝐬𝐬𝐦𝐞𝐧𝐭 In our assessment approach (LEAP), report preparers can assess their dependencies, impacts, risks and opportunities with both: 🔵an impact materiality assessment at the end of the Evaluate phase, aligned with GRI Standards and the European Sustainability Reporting Standards (ESRS), and 🔴 a financial materiality assessment at the end of the Assess phase, aligned with the approach of the ISSB and CSRD. ◼️𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐢𝐭𝐲 We recommend that report preparers use ISSB’s definition of material information as a baseline. ◼️𝐈𝐦𝐩𝐚𝐜𝐭 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐢𝐭𝐲 The TNFD also provides for organisation to additionally apply an impact materiality definition, for example, using the GRI Standards or the ESRS. ◼️𝐀 𝐟𝐥𝐞𝐱𝐢𝐛𝐥𝐞 𝐚𝐩𝐩𝐫𝐨𝐚𝐜𝐡 Our flexible approach thereby accommodates the use of a single materiality approach such as the approach of the ISSB S1 General Requirements. And a double materiality approach such as that outlined in the European Union’s ESRS. To read more about our approach to materiality, we recommend downloading the Recommendations of the TNFD and our Guidance on the LEAP Approach: 🔽TNFD recommendations - https://ow.ly/3kpC50TaBQ0 🔽TNFD LEAP Approach - https://ow.ly/3kpC50TaBQ0 #TNFD #Materiality #NatureDisclosures #LEAP