We have exciting news! Nature Positive now a member of the TNFD Forum
We are delighted to have become a forum member of the Taskforce on Nature-related Financial Disclosures (TNFD), a global initiative determined to shift financial flows away from nature-negative outcomes towards nature-positive ones.
As US$ 44 trillion of economic value generation is either moderately or highly dependent on nature, the TNFD hopes to develop a market-led framework to identify, report and manage nature-related risks and opportunities.
It will do this by launching a framework in 2023 that will help organisations to report and act on evolving nature-related risks, including the risks and the opportunities that nature poses to an organisation alongside the risks and opportunities the organisation presents to nature. The aim is to nurture a mutually beneficial symbiotic relationship.
“Being a member of the forum will give us the opportunity to support the development of the framework and test any methodologies or tools.” says Dr Rossa Donovan, Technical Director at Nature Positive.
This framework will complement the well-established Task Force on Climate-related Financial Disclosures (TCFD) and will be structured around the same four pillars of governance, strategy, risk management and metrics and targets to generate further scope for positive change.
Nature Positive is one of over 350 forum members that cover a wide range of sector types, including governmental, academic and business organisations. The TNFD Forum is a consultative group of institutions that support and share the TNFD’s goal. The role of the TNFD Forum is to support the framework through each development phase by providing feedback from industry pilots, participating in market testing and providing access to technical expertise and practical market experience.
Our team is looking forward to joining the monthly forum webinars and supporting the development of the TNFD Framework.
Both climate- and biodiversity-related risks and opportunities are entering into the limelight of corporate social responsibility (CSR) and environmental, social and governance (ESG) discussions and recognising the fundamental links a business has to the natural world is of ever-increasing importance.
“When the TNFD is officially launched, we will be in a strong position to support clients with identifying the impacts and dependencies their business operations have on nature. We will assess the financial risks and opportunities that these bring and provide the companies with TNFD disclosure reports, strategies, targets and action plans to reduce their risks and enhance their opportunities.” commented Dr Rossa Donovan.
Although the framework is still under development, businesses can act now to gain a competitive edge in the movement towards nature-positive outcomes. To find out more about Nature Positive and how we can help your business reshape its dependency on nature, please contact us, or visit our services page.
Nature Positive article authors: Luka Brown & Kelsey Monteith
*Banner photo by Vlad Hilitanu on Unsplash