Taskforce on Nature-related Financial Disclosures (TNFD)’s Post

This is great news. More alignment of the main standards with nature now firmly embedded throughout, is a key step in harmonisation and standardising mainstream corporate reporting. With harmonisation, we are edging one step closer to ensuring economic, social, nature and environmental considerations are viewed and addressed equally within the boardroom. #corporatereporting #naturalcapital #natureledsolutions #TNFD #ISSB #sustainabilityreporting #esgreporting #sustainability #esg #environment #CDP #climatechange #carbonemissions #netzero

Decoding the ESRS: A Comprehensive Framework for Sustainability Reporting 🌿📊 The European Sustainability Reporting Standards (ESRS) set a new benchmark with their comprehensive structure: 🔹 12 documents, including 11 detailed standards 🔹 ESRS 1 & 2 provide overarching guidance 🔹 5 environmental standards covering climate, pollution, water, biodiversity, and circular economy 🔹 Social and governance standards completing the framework This extensive structure showcases ESRS's advanced nature compared to ISSB's current two standards. It's likely to influence future global reporting frameworks. Is your organization prepared to navigate this complex reporting landscape? Learn more about ESRS and its potential impact on global sustainability reporting standards in our latest article. https://lnkd.in/gzkjgVct #ESRS #SustainabilityReporting #ESGStandards #CorporateResponsibility #EnvironmentalReporting #ISSB

Overview of nature frameworks 🌎 In recent years, the critical need to recognize and integrate nature within business operations has become increasingly apparent. As global economic activities continue to exert pressure on natural ecosystems, the adverse impacts not only threaten biodiversity but also the very foundations of economic stability and quality of life. The degradation of these ecosystems can disrupt supply chains, increase operational costs, and pose significant financial risks to businesses worldwide. The intrinsic value of nature extends far beyond its economic utility; it encompasses vital life-supporting services such as clean air, water purification, and disease regulation, which are essential for human survival and well-being. As such, the sustainability of natural resources is paramount not only for environmental conservation but also for the continued viability of the global economy and the well-being of all life forms that depend on these ecosystems. The intersection of business and environmental sustainability is marked by the advent of several significant frameworks designed to guide companies in disclosing and managing nature-related risks. Taskforce for Nature-Related Financial Disclosures (TNFD) brings together 40 diverse members to deliver a risk management and disclosure framework. This initiative encourages organizations to shift financial flows from nature-negative to nature-positive outcomes, building upon the principles set by the Taskforce for Climate-Related Financial Disclosures. Science Based Targets Network (SBTN), supported by over 80 partners, aims to extend the scope of science-based targets beyond climate, to include all critical Earth systems—water, land, biodiversity, and oceans. This comprehensive approach facilitates integrated target-setting for broader environmental impact. Science Based Targets Initiative – Forest, Land and Agricultural Emissions (SBTi FLAG) targets companies in land-intensive sectors, defining science-based approaches for emission reduction. This initiative aligns corporate actions with the Paris Agreement’s goal to limit global warming, focusing on land-based emissions. The Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS) from the European Union mandate detailed disclosures about corporate sustainability practices, enhancing the transparency and consistency of data reported across Europe. European Deforestation Regulation offers guidance for due diligence by companies, aiming to prevent deforestation caused by key commodities entering or leaving the EU. These frameworks collectively facilitate a structured approach to environmental responsibility, enabling companies to align with global efforts towards sustainability while addressing stakeholders’ increasing demands for transparency and accountability. #sustainability #sustainable #esg #climatechange #climateaction #sdgs #nature #environmental

For the first time, Nordic companies have reported their eligibility under the EU Taxonomy for four new environmental objectives: water, pollution, biodiversity and circularity. The results bode well for companies’ overall Taxonomy alignment numbers next year, according to an analysis by Nordea’s ESG Research team. 👉 https://lnkd.in/dfxh_eZu “We expect to see a step-up in average alignment next year, as companies start reporting under the four new environmental objectives,” says Marco Kisic, Head of ESG Research in Nordea. That should expand the universe of investments that are considered sustainable. #EUTaxonomy #SustainableFinance #myNordea

🌍 Introducing the 2024 Environmental Performance Index! 🌍 The latest Environmental Performance Index (EPI) provides a comprehensive overview of the state of sustainability across 180 countries, using 58 performance indicators to assess national efforts in climate change mitigation, environmental health, and ecosystem vitality. This index is a powerful tool for understanding global progress towards a sustainable future. 🔍 Key Insights: 1. Top Performers: Estonia leads the rankings, significantly reducing its greenhouse gas emissions by transitioning to cleaner energy sources. The country's ambitious goal is to generate 100% of its electricity from renewables by 2030. 2. Biodiversity and Habitat Protection: Despite global commitments to protect 30% of land and marine areas by 2030, the EPI highlights that many protected areas are "paper parks" where commercial activities continue. Effective enforcement is crucial to achieving real conservation outcomes. 3. Climate Change Mitigation: Only a few countries are on track to reach net-zero emissions by 2050. The index reveals the challenges of reducing emissions in hard-to-decarbonize sectors like agriculture and transportation. 📈 Why It Matters: The EPI offers valuable insights into how countries are managing their environmental impacts and progress towards global sustainability goals. It provides a benchmark for policymakers, businesses, and environmental advocates to identify best practices and areas needing improvement. Let's use this data to drive meaningful action and work towards a more sustainable and resilient world! 🌱 #Sustainability #EnvironmentalProtection #ClimateChange #EPI #SustainableDevelopment

As biodiversity becomes increasingly crucial by the day, the International Sustainability Standards Board (ISSB) is taking another stride forward by integrating the Taskforce on Nature-related Financial Disclosures (TNFD) into its framework, alongside initiatives like the Global Reporting Initiative (GRI) and the Corporate Sustainability Reporting Directive. Achieving alignment and harmony among sustainability standards, especially for complex topics like biodiversity, is a game-changer. This cohesion will not only simplify reporting for entities but also provide clarity and confidence for investors navigating the sustainability landscape. #biodiversity #esg #issb #gri #tnfd #climatechange #ifrs #sustainability #nature #csrd

Sustainability reporting standards are evolving from voluntary to mandatory, from climate only to climate and sustainability, and from risk disclosure to transition planning. It's quite insightful to corporates!

🌍 Join us for an engaging webinar on sustainability governance! 🌍 🗓 Event: Governance in complexity: sustainability governance under highly uncertain and complex conditions. Hosted by the European Environment Agency (EEA) and the European Centre for Governance in Complexity (ECGC), this webinar follows the launch of the EEA report ‘Governance in Complexity: Sustainability Governance under Highly Uncertain and Complex Conditions’. About the Report: Addressing the crises of climate change, biodiversity loss, and pollution, the report introduces 'governance in complexity', an approach that emphasizes: 🌀 Experimentation 🔍 Systems Thinking 🤝 Participation ⚖️ Precaution 🔮 Anticipation 💚 Care Real-life examples show how this model navigates trade-offs and drives sustainable change. 📢 Find out more details and how to join: https://lnkd.in/d8ApCpzh #Sustainability #Governance #Complexity #ClimateChange #Biodiversity #Pollution #ECGC #Webinar #EnvironmentalGovernance

For the first time, Nordic companies have reported their eligibility under the EU Taxonomy for four new environmental objectives: water, pollution, biodiversity and circularity. The results bode well for companies’ overall Taxonomy alignment numbers next year, according to an analysis by Nordea’s ESG Research team. 👉 https://lnkd.in/d5uMbWjc “We expect to see a step-up in average alignment next year, as companies start reporting under the four new environmental objectives,” says Marco Kisic, Head of ESG Research in Nordea. That should expand the universe of investments that are considered sustainable. #EUTaxonomy #SustainableFinance #myNordea

We have been nominated for the Global ESG Awards. The public voting is now officially open and you are able to vote until the 18th of February.   Follow these steps to vote us: Visit https://lnkd.in/d2znRwCk . Scroll down to VOTE HERE below Ring33 description. Confirm your vote.   The six ESG awards: 1) Compliancy Award: For the best solutions that comply with regulations 2) EcoBalance Award: For the best solution for climate change & pollution 3) Aqua Biodiversity Award: For the best solution for water and marine resources + biodiversity and ecosystems 4) Resource Excellence Award: For the best solution for resource use and circular economy 5) CommuniCare Impact Award: For the best solution for affected communities, consumers and end users 6) ESG Leadership Award: The best corporate ESG personality   The process: Step 1 – The nomination of companies or individuals: Until the 31st of January Step 2 – The public vote: 1st until the 18th of February Step 3 – The selection by the jury: 19th of February until the 1st of March Step 4 – Pre-announcement: 6th of March Step 5 – Trophy presentation: 12th of March in the Grand Auditorium from 16:45-17:45   #ESGawards #ESG #mipim #eubin #realestate