The Task Force on Nature-related Financial Disclosures (TNFD) has officially formed its Informal Working Group, a milestone along the road to creating a flobal framework for measuring and reporting on financial risks posed by nature, biodiversity and habitat degradation.

Supported by ten major banks, the TNFD loos to replicate the Taskforce on Climate-related Financial Disclosures (TCFDs).

Started as a partnership between 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) the TNFD has already acquired the support of AXA; BNP Paribas; DBS Bank; Coöperatieve Rabobank; FirstRand Group; the International Finance Corporation, Standard Chartered; Storebrand Asset Management; Yes Bank; and the World Bank. Furthermore, the UK and Swiss governments are also part of the IWG that could lead to an internationally supported, market-led TNFD process.

Share Story: