Emerging nature standards and policies

The policy and framework environment for nature is moving quickly. There are two emerging initiatives that are rapidly rising up the agenda – the Taskforce on Nature-related Financial Disclosures (TNFD) and the Science Based Targets (SBTs) for nature. 

• The TNFD beta framework v0.2 was released in June and is likely to become compulsory for the largest companies, in a similar way to the current requirement for Task Force on Climate-related Financial Disclosures reporting.  It will enable companies to manage both their risks and opportunities relating to nature and will give confidence to investors. 
• The science based targets for nature methodology is in its final stages of consultation and is likely to become best practice for target setting, in the same way that science-based targets are used for carbon. SBTs for nature will be action-focused, supporting companies to understand and reduce their impact in a time-bound and credible way. 

These emerging frameworks are going to become important for companies to follow to enable access to finance and to be credible to consumers. 

We at Nature Positive can support you to start assessing how your business can identify its risks, impacts and opportunities associated with nature. We can also assist with undertaking both TNFD disclosure and setting science-based targets. Please get in touch if you want to discuss more about how TNFD or SBTs for nature could be applied in your business. 

*Banner image by Hendrik Cornelissen on Unsplash