TASK FORCE FOR NATURE-RELATED FINANCIAL DISCLOSURES

TNFD

WHO WE ARE

The Taskforce

The Taskforce on Nature-related Financial Disclosures (TNFD) is a new global initiative which aims to give financial institutions and companies a complete picture of their environmental risks. Better information will allow financial institutions and companies to incorporate nature-related risks and opportunities into their decision-making processes.

 

In 2023, the TNFD will deliver a framework for organisations to report and act on evolving nature-related risks, in order to support a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes.

 

The Taskforce will consist of approximately 30 members, with an equal representation of financial institutions and corporates from developed and emerging markets, as well as service providers.

 

It is led by two Co-Chairs, Elizabeth Maruma Mrema, Executive Secretary of the United Nations Convention on Biological Diversity (CBD), and David Craig, CEO of Refinitiv and Group Leader of Data & Analytics Division at London Stock Exchange Group (LSEG), and will be informed by a diverse Stakeholder Group – consisting of governments, regulators, multilaterals, financial and business consortia, NGOs, think tanks and research organisations.

 

The TNFD has been catalysed through an Informal Working Group (IWG), informal Technical Expert Group (TEG), and supported by a group of four founding partners organisations.

ENDORSEMENTS

  • “For too long we took natural resources for inexhaustible and did not look at the consequences of human action on the planet. Climate change and the rapid loss of biodiversity invite us to transform our societies and economies, which means that finance needs to be transformed as well. The TNFD, a new global initiative, aims to give the finance sector a complete picture of environmental risks. The TNFD’s work on nature-related risks will be an important complement to the work already done on climate-related risks. Biodiversity is a systemic challenge and having a global platform for collaboration across private actors, international organisations, public authorities and NGOs is essential. The TNFD will support the development of more reliable and comparable nature-related data, which is critical to promote sustainable investments”

    Sylvie Goulard

    Deputy Governor of the Banque de France
  • Mainstreaming biodiversity into the financial sector is one of the prerequisites to reversing nature loss. The Global Environment Facility is a proud anchor investor in the TNFD and I have great expectations for this initiative. Helping companies, investors, and financial institutions to measure and address financial risks derived from biodiversity loss will help redirect financial flows into nature-positive investments. We need this kind of transparency to underwrite the changes the planet needs, both in the short and long-term”

    Carlos Manuel Rodríguez

    Global Environment Facility CEO and Chairperson
  • “Collective action is needed to help protect our natural ecosystems and stop their degradation. BNP Paribas has already taken commitments to preserve biodiversity, but common and applicable standards are needed to leverage the power of finance for nature. The TNFD is key in convening market participants towards such standards”

    Jean-Laurent Bonnafé

    CEO of BNP Paribas
  • “We view the biodiversity challenge as a natural extension of our climate efforts, since the two crises are interconnected. Having supported the TCFD since its launch, we know how strategic reporting frameworks can be; this is why we called for the creation of the TNFD in 2019. Today we are proud to support its launch, and it is our hope that the TNFD will develop the risks & opportunities framework that corporates and investors need to support nature-based solutions”

    Thomas Buberl

    CEO of AXA Group
  • “If we are to halt the destruction of the natural world, we urgently need financial decision making and investments to take account of nature. The launch of the Taskforce for Nature-related Financial Disclosures (TNFD) marks an important milestone in this process, building a framework to help lenders and investors make informed decisions that are aligned with climate and the natural environment. Its launch is also an important milestone in the delivery of the UK government’s Green Finance Strategy. We have supported this market-led initiative from its very inception and commend all the stakeholders involved in persevering against all odds, and putting in so much time and effort towards reaching this stage. We welcome the two excellent and committed co-chairs and look forward to building a successful, international, market-ready framework”

    Rt Hon Lord Goldsmith

    Minister for Pacific and the Environment at the Foreign, Commonwealth & Development Office (UK)
  • Incorporating nature-related risks into financial decisions is important to safeguard future investments and respond to the clarion call of protecting the natural ecosystems. Sustaining our current ambitions of growth and alleviating the damages caused to biodiversity, requires a better alignment of technology, investments, and policies with the needs of nature. TNFD will provide the much-needed framework to mitigate the risks and leverage the emerging opportunities arising out of the shared journey to restore planet’s once-rich natural capital. YES BANK is proud to be associated with TNFD and we continue our support to this global endeavor of mobilizing finance towards nature-positive outcomes”

    Prashant Kumar

    MD and CEO, YES BANK
  •  “Biodiversity and variety of life on earth is crucial to sustain healthy and functional ecosystems. It is only through collaborations that we can solve our global challenges within the loss of nature, and we believe that this joint taskforce on nature-related financial disclosure will play an important role for including biodiversity into our industry. We are happy to use our size and scale to transform our industry for the better”

    Leyla Ertur

    Head of Sustainability at H&M Group
  • “The challenge of biodiversity and nature preservation is crucial. We need corporate and financial institutions to take their parts. Yet, we lack unified definitions, standards and metrics to acurately and thoroughly embrace nature preservation. The TNFD will constitute a. Important step to start properly addressing at global level biodiversity-related risks and impacts”

    Barbara Pompili:

    The Minister of Ecological Transition (France)
  • “Recent reports (for example by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services) show the threats that nature and the global biodiversity face due to our current economic system. We have a responsibility towards future generations to leave them a healthy and habitable planet. Therefore, things need to change. I believe that the global framework that will be developed by the Taskforce Nature-related Financial Disclosures (TNFD), will accelerate the transition towards a nature-inclusive financial sector and thus society. The Netherlands is very well aware of the need for TNFD and will keep supporting it”

    Carola Schouten

    Viceprimera ministra y ministra de Agricultura, Naturaleza y Calidad de los Alimentos del Reino de los Países Bajos,

IWG, TEG and founding partners

The TNFD has been catalysed through an Informal Working Group (IWG), informal Technical Expert Group (TEG), and supported by a group of four founding partners organisations. The four founding partners organisations are: Global Canopy, the United Nations Development Programme (UNDP), the United Nations Environment Programme Finance Initiative (UNEP FI), and the World Wide Fund for Nature (WWF).Global Canopy, el Programa de las Naciones Unidas para el Desarrollo (PNUD), la Iniciativa Financiera del Programa de las Naciones Unidas para el Medio Ambiente (UNEP FI) y el Fondo Mundial para la Naturaleza (WWF)

TNFD Accelerator Team

The TNFD IWG Accelerator Team was made out of various dedicated members from the four Founding partners that have been key to coordinating and engaging the Informal Working Group, Technical Expert Group, Observer Group.

Informal Working Group Co-Chairs

Informal Technical Expert Group Co-Chairs

INFORMAL TECHNICAL EXPERT GROUP

Images supplied courtesy of Jonathan Glynn Smith