Cleerit’s Post

The International Sustainability Standards Board (ISSB) is beginning research on potential new disclosures around #biodiversity, nature and human capital, with the goal of harmonising the sustainability data shared with investors on these topics. The research projects aim to determine the type of information needed to assess nature and human capital risks, and will draw from existing initiatives, including the Taskforce on Nature-related Financial Disclosures (TNFD). This exercise may result in specific disclosure standards "if required". More information on the ISSB's priorities over the next two years will be published in June. https://lnkd.in/eDDfPv2X #SustainabilityStandards #SustainabilityDisclosures #ChiefSustainabilityOfficer #NatureDisclosures #HumanCapital #BeyondClimate

It's today: join the information webinar on the Ecosystem Condition Protocol!

ISSB takes on two new research projects focusing on risks and opportunities related to nature and human capital The International Sustainability Standards Board (the ISSB) has taken up two new research projects - on biodiversity, ecosystems and ecosystem services (BEES) and human capital. The development of these projects will help companies ensure that they identify the BEES and human capital-related risks and opportunities appropriately. The ISSB is also planning to identify ways to supplement the existing IFRS S1 and S2 standards and to support the interoperability of its standards with other existing standards. Delve into the article to understand how it is going to affect your organization. https://lnkd.in/d9M6Wb87 #ISSB #BEES #IFRSS1 #IFRSS2 Khurram Mian Yasir Ahmad

Here is an overview of the key methodological trends (overlaps, complementarities) among the private sector assessment and disclosure approaches on nature-related issues. The report has reviewed the following frameworks: ⏩ CDP disclosure system ⏩ European Sustainability Reporting Standards (ESRS) ⏩ Global Reporting Initiative (GRI) Standards ⏩ International Sustainability Standards Board (ISSB) Standards1 ⏩ Natural Capital Protocol ⏩ Science Based Targets Network (SBTN) target setting guidance ⏩ Taskforce on Nature-related Financial Disclosures (TNFD) framework Here are some key findings: ✅ there is a real variability in definitions of materiality across these frameworks, some focus strictly on financial materiality, others encompass environmental and social aspects ✅ there is a growing recognition of the importance of upstream and downstream activities in a company's environmental footprint ✅ the primary focus of these frameworks is on land and freshwater ecosystems, with ocean areas receiving comparatively less attention, although efforts to improve this are noted ✅ most frameworks require companies to consider not just their direct operations but also their value chains when assessing and disclosing nature-related impacts ✅ I was happy to see that the report emphasizes the importance of location-specific information in disclosures, with many approaches recommending the provision of spatial data This is probably most useful to those sitting inside businesses or financial institutions responsible for compliance and reporting, but useful also for the rest of us as we consider standardization and harmonization across efforts. Thanks to UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC) and the United Nations Environment Programme Finance Initiative (UNEP FI) David Carlin Matt Jones for putting this out. Cudos to #NossaData for compiling the tables in one slide. #sustainability #compliance #reporting #esg #csr #nature

This is a great overview of the private sector nature-related assessment and disclosure approaches. A steps closer towards having nature accounted for in economic activities 🌿

How can businesses navigate the various frameworks and standards on #Nature? 🌱 Since the adoption of the #GlobalBiodiversityFramework, new standards and frameworks have been launched to meet the complexity of measuring impacts on #Nature and #Biodiversity. While this has led to interest in developing #NatureStrategies, some companies still feel overwhelmed by the number of frameworks, regulations and standards. In a recent article for the ‘It’s #NowForNature’ series, we explore how businesses can navigate the various nature frameworks, namely through: 🌎 The Nature Strategy Handbook, an important guidance tool for businesses navigating this landscape, helping them to identify when and where to engage with different frameworks in the process of developing a nature strategy. 🌎 Taskforce on Nature-related Financial Disclosures (TNFD)'s LEAP approach, designed to offer a systematic way of assessing a business's dependencies and impacts on nature, and offering a foundation to manage and report on them. 🌎 Science Based Targets Network (SBTN)'s recent update of its technical guidance, helping companies create credible action plans that are underpinned by targets directly linked to their impacts and grounded in environmental and societal materiality. 🌎 Sustainability reporting standards such as International Financial Reporting Standards (IFRS) and Global Reporting Initiative (GRI), which recently updated it’s GRI 101 Biodiversity Standard. All these organizations and frameworks play a crucial role in delivering the high-level business actions (ACT-D) – Assess, Commit, Transform and Disclose. 🔗 Read more: https://ow.ly/5EvV50TWXUo

🌍 Navigating the Path to a Nature-Positive Future 🌱 The latest piece from Business for Nature explores how emerging nature frameworks and standards are shaping the way industries tackle biodiversity loss and drive environmental change. As the push for Nature-Inclusive Design gains momentum, it's clear that a unified approach, backed by robust standards, will be key to scaling solutions across sectors. At SSE Renewables, we are already actively engaging with these frameworks and working to integrate nature-positive strategies into our offshore wind projects. By aligning our approach with these evolving standards, we aim to enhance marine biodiversity and contribute to meaningful nature recovery.

Many thanks Taskforce on Nature-related Financial Disclosures (TNFD) and Global Reporting Initiative (GRI) for extremely helpful 📣💥💥 🚀 Interoperability mapping between #TNFD Disclosure Recommendations and #GRI Standards💥💥. Highlights 🔑👇:  ✅✨🎯 Use of consistent nature-related concepts and definitions, including the five direct #drivers of #nature and #biodiversity loss, as defined by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (#IPBES). ➡️✨ IPBES five direct drivers: ❗ changing use of sea and land, ❗ direct exploitation of organisms, ❗ climate change, ❗ pollution and ❗ invasive non-native species; ➡️ two indirect drivers are ❗ people's disconnect with nature and the resulting ❗ lack of value placed on the importance of nature   ✅✨🎯The reference and incorporation of Global Reporting Initiative (GRI)’s materiality approach focusing on impacts in the #TNFD ✅✨🎯 Recommendations and guidance, following the TNFD’s flexible approach to materiality. ➡️✨The #TNFD LEAP ✨(Locate, Evaluate, Assess, Prepare)✨ approach has been designed to help organizations report in line with both impact and financial materiality.   ✅✨🎯 All the disclosures in GRI 101: Biodiversity 2024 are reflected in the #TNFD Recommendations. ➡️✨ All of the #TNFD Recommendations are reflected in the #GRI Standards, except those exclusively covering #nature-related #risk and opportunity identification and assessment.   ✅✨🎯 Strong consistency between the #TNFD core global disclosure metrics and the related metrics in the GRI Standards. ➡️✨ First mapping of the #TNFD sector metrics and the relevant GRI Sector Standards also highlight consistency at this level.    ✅✨🎯 The #TNFD LEAP approach – guidance for identifying and assessing nature-related issues – is referenced in GRI 101. ➡️✨ Pinpoints where impacts on biodiversity are most likely to be present and significant and provides guidance on measuring changes in the state of #nature.   ✅✨🎯 GRI 101 uses the #TNFD definitions and criteria when considering an organization’s location in or near #ecologically sensitive areas. 🔍 This new resource provides a detailed overview for easier and more effective reporting. 💥 Interoperability EXCEL link in comments 💥 Freddy Lim Calvin Chu Yee Ming Elsa Pau Agnes K Y Tai, PhD 戴洁莹 Vivien Teu Christine Chow, PhD Dr Victoria Hurth Andrew Parry Hemesh Nandwani Marcio Brandão #investing #markets #economy #innovation #esg #sdgs #future #cop28 #technology #biodiversity #sustainability #india #impactinvesting #environment #climaterisk #growth #assetmanagement #energy #renewables #investments #economics #sustainable #circulareconomy #privateequity #sustainabledevelopment #pension #riskmanagement

The Science Based Targets Network aims to set the global standard for measurable corporate action to protect nature, writes Baringa in a blog outlining the benefits of taking a science-based approach to business.👇 In the article authors explain that this scientific approach "deepens understanding" of a company's impacts and dependencies on nature, and helps "refine and prioritize" actions to meet nature-related targets. 🎯 This clarity makes it easier to act and start taking advantage of future benefits, including: ➤ Getting ahead of regulation and policy changes ➤ Increasing the confidence of investors and strengthening reputation among customers, employees, and society ➤ Improving medium-to-long-term profitability ➤ Catalyzing innovation that’s good for business and the planet. The article also warns of the impacts of biodiversity loss and environmental degradation that will affect companies' operations, supply chains, and markets: ➤ Shortages of raw materials and natural resources ➤ Manufacturing facilities and distribution systems are at risk of losses to ecosystem services such as water issues – including stress on access, quantity, and quality – which will impact the stability and reliability of supply chains. Natural disasters such as floods and wildfires also pose a high risk. ➤ Nature loss and climate change also affects consumer preferences and purchasing behavior. 🔗 Read more in the blog: https://lnkd.in/eRVZFCeP #ScienceBasedTargets #ForNature #SBTN #NaturePositive #SafeAndJust #ScienceBased #NatureAndClimate #EcologicalEmergency #GlobalCommons

Today, the Taskforce on Nature-related Financial Disclosures (TNFD) announced that the International Sustainability Standards Board (ISSB) has begun addressing nature-related issues, building on #TNFD's guidance. Following the introduction of the #IFRSS1 and #IFRSS2 #sustainability reporting standards in 2023, this initiative marks a significant step toward establishing a global standard for #nature-related disclosures. David Craig, Co-Chair of the TNFD and a Competent Boards faculty, stated: “This is another important step forward to realizing both the need for an integrated global baseline for sustainability reporting and the aspirations of the Global Biodiversity Framework. The science is clear that climate change and nature loss are accelerating and market research is increasingly spotlighting how our dependencies and impacts on nature are creating material financial risks and also opportunities for companies across real economy sectors as well as for financial institutions.” Helle Bank Jørgensen, Founder and CEO of Competent Boards adds: "We are at a pivotal moment where integrating nature-related risks and opportunities into financial reporting is not just prudent, it's imperative. The collaboration between the TNFD and the ISSB to enhance nature-related disclosures is a testament to the global commitment to transparency and sustainability. Businesses and investors alike are realizing that understanding and acting on these environmental factors is crucial for long-term viability and success. This work lays the groundwork for more resilient and sustainable economies worldwide." Read the full announcement from TNFD here 👉 : https://lnkd.in/gQKZjvA7 #CompetentBoardsMovement #NetZero #ESG #ClimateChange #BoardEducation #ExecutiveEducation #CorporateGovernance #SustainableGovernance