Taskforce on nature expands membership

January 28, 2022

The Taskforce on Nature-related Financial Disclosures (TNFD) has added 13 new “knowledge partners” including the CDP, Sustainability Accounting Standards Board (SASB) and the Global Reporting Initiative (GRI).

The TNFD is developing a framework for the financial reporting of nature-related risks. The framework will inform companies and investors to shift global capital to nature-positive outcomes.

The TNFD and its partners will work on the expertise and existing definitions, data, analytical tools, and disclosure standards that the partners have developed.

Among the other new partners are:

• Agence Française de Développement (AFD)
• The Cambridge Institute for Sustainability Leadership (CISL)
• The International Union for Conservation of Nature (IUCN)
• The Network for Greening the Financial System (NGFS)
• The Science Based Targets Network (SBTN)
• The Capitals Coalition
• UNEP World Conservation Monitoring Centre (UNEP-WCMC)
• UNSD
• The World Business Council for Sustainable Development (WBCSD)
• The WWF

The partners will also provide expertise on scientific disciplines, market practice and the development of nature-risk scenarios to advise the taskforce. The TNFD comprises 34 senior executives from across finance, business, and market service providers.

Emily McKenzie, technical director at TNFD, said: “Being market-led, science-based and incorporating existing research and market practice are three of our core principles.

“These knowledge partners are already supporting the five Working Groups underway with our efforts to build an initial beta version of the TNFD framework.”

An initial beta version of the TNFD framework is expected to be released in March. In April the consultation and piloting testing of the draft risk management and disclosure framework is due to begin.

Throughout the year, the TNFD will also expand its network of consultation and implementation partnerships, including channels for engagement with national conservation and business organisations, as well as local community groups in high nature-risk areas globally.