Taskforce on Nature-related Financial Disclosures (TNFD)

How should boards and directors be responding to the quickly evolving nature landscape? We are hosting a webinar this Thursday, July 11, to help Board members and Directors respond to their evolving duties related to nature. 📅 11 July 2024 🕛 09:00 - 10:00 New York | 14:00 - 15:00 London | 15:00 - 16:00 Paris | 21:00 - 22:00 Singapore Register online 👉 https://lnkd.in/g-RA8VXj This webinar will cover how directors’ duties are evolving to include nature-related issues and the role the TNFD recommendations and related guidance can play to support directors’ duties. Tony Goldner will host a panel of experts including: ◼️ Sarah Barker, Managing Director, Pollination Law ◼️ Helle Bank Jørgensen, GCB.D, CCB.D and NACD.DC, CEO and Founder, Competent Boards ◼️Cynthia Williams, Executive Director, Commonwealth Climate and Law Initiative (CCLI) Ahead of the session, we recommend downloading TNFD in a Box: Board level overview 🔽 https://lnkd.in/gcgt2Qpf #TNFD #Nature

📢 Draft sector guidance is now open for consultation and feedback Organisations, market participants and other interested stakeholders can now provide feedback online on five new sector guidance drafts. 📅 Feedback is open until 27 September. This guidance is published in draft for consultation with market participants and other interested stakeholders. The Taskforce will review all feedback, and the TNFD will issue the final sector guidance by 30 December 2024. 🔽 Explore all guidance open for consultation 🔽 https://lnkd.in/eMdDTrub ◾ Apparel, accessories and footwear ◾ Beverages ◾ Construction materials ◾ Engineering, construction and real estate ◾ Fishing This draft guidance supplements the TNFD’s Guidance on assessing nature-related issues — the LEAP approach — and should be read in conjunction with that guidance (https://lnkd.in/gtQttgqR). Feedback is particularly welcomed on how to improve the guidance, whether the proposed sector metrics are decision-useful and proportionate, and any suggestions for additional metrics. We look forward to receiving feedback from all interested stakeholders. If you have any questions please contact - feedback@tnfd.global #TNFD #Nature #SustainableFinance #Feedback

📢 New guidance on value chains published Addressing the nature-related issues of businesses and financial institutions through their value chains is critical if we are to succeed in achieving the goal of the Kunming-Montreal Global Biodiversity Framework to halt and reverse nature loss by 2030. 🔽 Download today 🔽 https://ow.ly/hl2E50SvLeY Responding to market demand for further guidance on how to get started with value chain assessment of nature-related issues, this guidance builds on a discussion paper on the TNFD’s proposed approach to value chains published in September 2023 and incorporates feedback from a wide range of market participants after an extensive consultation period. The guidance includes: ◼️An outline of value chain characteristics that can create challenges in assessing nature-related issues ◼️How organisations can approach these issues using the LEAP approach ◼️An overview of data needs for assessing value chains and how to address them ◼️How related disclosure frameworks and standards approach value chains Since September 2023, we have produced several pieces of guidance to support the implementation of the TNFD LEAP approach alongside other useful resources and tools. Navigate all the guidance and tools here ➡️https://ow.ly/Swtq50SvLeZ WBCSD – World Business Council for Sustainable Development Business for Nature United Nations Environment Programme Finance Initiative (UNEP FI) UNEP-WCMC Global CanopyWorld Economic Forum

🏢 Boards and Nature: The evolving landscape for director’s duties    Next Thursday, #TNFD hosts a webinar designed to support board members and directors on their evolving duties.     📅 11 July 2024  🕛 09:00 - 10:00 New York | 14:00 - 15:00 London | 15:00 - 16:00 Paris | 21:00 - 22:00 Singapore  💻https://lnkd.in/g-RA8VXj    Nature is now considered a strategic risk management and governance issue for companies and financial institutions. Physical and transition risks are materialising with greater frequency and severity, customer expectations are shifting, investors are asking more questions and regulators are moving forward with new nature-related corporate reporting requirements. How should boards and directors be responding to this quickly evolving landscape? This webinar will cover how directors’ duties are evolving to include nature-related issues and the role the TNFD recommendations and related guidance can play to support directors’ duties. Tony Goldner will host a panel of experts including:   ◼️ Sarah Barker, Managing Director, Pollination Law  ◼️ Helle Bank Jørgensen, GCB.D, CCB.D and NACD.DC, CEO and Founder, Competent Boards  ◼️Cynthia Williams, Executive Director, Commonwealth Climate and Law Initiative (CCLI)     Ahead of the session, we recommend downloading TNFD in a Box: Board level overview 🔽 https://lnkd.in/gcgt2Qpf We look forward to seeing you there - https://lnkd.in/g-RA8VXj Competent Boards Institute of Directors (IoD) Australian Institute of Company Directors NACD (National Association of Corporate Directors) Principles for Responsible Investment WBCSD – World Business Council for Sustainable Development The Generation Foundation Singapore Institute of Directors The Hong Kong Institute of Directors Chapter Zero

How often do we hear "there is not enough data to assess nature risk?" As someone who lives and breathes in financial, market and nature data I have found this rather too simple high level excuse a 'myth that needs busting'. Our article published in Responsible Investor breaks open the myth; yes there are plenty of gaps, inconsistencies, but there is also large and growing amount of state-of-nature data, public disclosures, analytical platforms and tools - The real gap is is knowing what data and tools to use, how to analyse, and how to act. This requires building intelligence around nature. Responsible Investor Article: https://lnkd.in/ejAyrpAJ Taskforce on Nature-related Financial Disclosures (TNFD)

📚 Sector guidance and sector-specific disclosure metrics published Last Friday, the #TNFD published final sector guidance for eight real economy sectors, following extensive feedback. The documents provide guidance on how each sector can apply the LEAP approach, how to apply the core disclosure metrics outlined in the TNFD’ recommendations published in September 2023, and a list of recommended core and additional sector disclosure indicators and metrics. Explore the final additional sector guidance: ➡ Aquaculture - https://lnkd.in/dH7WbWVr ➡ Biotechnology and pharmaceuticals - https://lnkd.in/dqBcrPjC ➡ Chemicals - https://lnkd.in/dcEt3dGN ➡ Electric utilities and power generators - https://lnkd.in/dJHwQnZh ➡ Food and agriculture - https://lnkd.in/dsFRsymw ➡ Forestry, pulp and paper - https://lnkd.in/d4uzec2n ➡ Metals and mining - https://lnkd.in/dJsrk_-V ➡ Oil and gas - https://lnkd.in/d4Ht6mPp The release of these sector guides for applying the TNFD recommendations is the culmination of an 18-month process of iterative development, including extensive consultation with the TNFD’s knowledge partners and market participants globally and builds on existing industry standards and tools such as ENCORE and guidance developed by Business for Nature, WBCSD and the World Economic Forum. WBCSD – World Business Council for Sustainable Development Business for Nature United Nations Environment Programme Finance Initiative (UNEP FI) UNEP-WCMC Global Canopy World Economic Forum

📢 Updated guidance - Sector Guidance and disclosure metrics for Financial Institutions Building on the TNFD recommendations published in September 2023 and the release of the TNFD’s LEAP assessment approach for companies and financial institutions, this document provides additional guidance for financial institutions to apply the TNFD Recommendations and additional guidance on disclosure metrics for financial institutions. The guidance applies to banks, insurance companies, asset managers and owners, and development finance institutions. This final guidance is based on feedback received from for financial institutions globally during the open consultation process between 18 September 2023 to 29 March 2024. 🔽 Download today 🔽 https://lnkd.in/eJeN86xP Key Sections: 🔵 Section 1: Introduction 🔵 Section 2: Guidance for financial institutions on the TNFD recommended disclosures. 🔵 Section 3: Guidance on the TNFD disclosure metrics for financial institutions. 🔵 Annex 1: A list of reference sectors to support the application of the core disclosure metrics for financial institutions on exposure to sectors. 🔵 Annex 2: A mapping of the European Union’s Sustainable Finance Disclosure Regulation (SFDR) Principle Adverse Impact (PAI) indicators to the drivers of nature change and TNFD core global disclosure metrics. 🔵 Annex 3: A list of references to other relevant guidance. Institute of International Finance Principles for Responsible Investment United Nations Environment Programme Finance Initiative (UNEP FI) Finance for Biodiversity Partnership for Biodiversity Accounting Financials (PBAF) WWF Green Finance Institute Principles for Responsible Investment UNDP Sustainable Insurance Forum (SIF) World Economic Forum The Nature Conservancy

📚 TNFD publishes new guidance – June 2024    Today, the #TNFD has published final Additional sector guidance for eight real economy sectors to apply the LEAP approach alongside updated Additional guidance for financial institutions to apply the TNFD Recommendations and final Guidance on value chains. This follows an 18-month process of iterative development, including extensive consultation with the TNFD’s knowledge partners and market participants.    Additional sector guidance -  Aquaculture - https://lnkd.in/dH7WbWVr  Biotechnology and pharmaceuticals - https://lnkd.in/dqBcrPjC  Chemicals - https://lnkd.in/dcEt3dGN  Electric utilities and power generators - https://lnkd.in/dJHwQnZh  Food and agriculture - https://lnkd.in/dsFRsymw  Forestry, pulp and paper - https://lnkd.in/d4uzec2n  Metals and mining - https://lnkd.in/dJsrk_-V  Oil and gas -  https://lnkd.in/d4Ht6mPp Additional guidance for financial institutions - https://lnkd.in/dP-C7Jqq Guidance on value chains - https://lnkd.in/ddPfKnNu Alongside this guidance, we have also published guidance for five additional sectors, which are open for consultation and feedback from 4 July – 27 September.  Draft sector guidance - https://lnkd.in/ddPfKnNu The development of TNFD's sector guidance has been led by working groups of TNFD Taskforce members with extensive input from both science partners and market participants over the past year, including through focus groups and written feedback. The Taskforce is grateful for the input received from a wide range of individuals and organisations. #TNFD #NatureReporting #SustainableFinance  

At London Climate Action Week (LCAW) today, the Taskforce on Nature-related Financial Disclosures (TNFD) announced a 30% increase in Adopters of the TNFD recommendations. This now brings the total number of TNFD Adopters to 416. These organisations have committed to disclose their material nature-related issues to investors and other stakeholders based on the TNFD recommendations in their corporate reporting. Full list of Adopters - https://lnkd.in/dfe42gNV Drawn from over 50 jurisdictions and across 62 of 77 SICS sectors, the publicly listed companies represent over US$6 trillion in market capitalisation, an increase of 50% since the TNFD’s January announcement. 114 financial institutions are now registered as Adopters, representing US$15.9 trillion in Assets under Management, including 25% of the world’s systemically important banks (GSIBs). Organisations can signal their intent to start making TNFD-aligned disclosures by registering online - https://lnkd.in/gVxa7XUq The next cohort of TNFD Adopters will be announced at the UN Biodiversity's COP16 in Colombia this October. #TNFD #TNFDAdopters #CorporateReporting #Nature #Biodviversity

The TNFD welcomes the International Sustainability Standards Board (ISSB)’s announcement to deliver further harmonisation of the sustainability disclosure landscape as part of its new work plan. Read here - https://lnkd.in/eHG3hwup During today’s event, Emily McKenzie joined speakers from the International Sustainability Standards Board (ISSB), CDP, Global Reporting Initiative (GRI) and WBCSD – World Business Council for Sustainable Development to discuss the interoperability achieved so far and the ongoing efforts to reach even greater harmonisation between standards and frameworks going forward. In addition to the recently released mapping of TNFD and Europe’s #ESRS and our forthcoming mapping to GRI standards, we are now underway supporting the ISSB’s work on nature drawing on the TNFD recommendations. In response, David Craig, Co-Chair of the TNFD said: "The ISSB has been a valued partner to the TNFD since the Taskforce commenced its work in late 2021, providing input into our recommendations published last year. We are delighted to now be reciprocating by supporting the ISSB as it advances its research on nature that will include work focused on the recommendations of the TNFD. Bringing nature-related issues into the global baseline for sustainability disclosures is a critical next step in encouraging companies to provide comprehensive, material information about their risks and opportunities across the full spectrum of planetary boundaries not just climate change." As the ISSB undertakes research into biodiversity, ecosystems, and ecosystem services, we look forward to supporting their team to build upon the recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD) published in September 2023. #Interoperability #CorporateReporting #NaureReporting