Taskforce on Nature-related Financial Disclosures (TNFD)

Overview

Formally launched in June 2021, Taskforce on Nature-related Financial Disclosures (TNFD) was created to provide a standardised framework for organisations to report and act on nature-related dependencies, impacts, risk, and opportunities. Through its set of disclosure recommendations and guidance, TNFD aims to enable businesses and financial institutions to integrate nature into their decision-making processes.

Scope & Adoption

The TNFD is a global, market-led initiative responding to increasing demand to factor nature-related risks into financial and business decisions. While no formal disclosures have been reported yet, the TNFD initiative was led by 40 taskforce members representing over $20 trillion in assets under management and stakeholders from almost 60 countries around the world. 

With reporting not yet in place, the TNFD will track voluntary market adoption from 2024 onwards, with some companies already announcing that they will publish their first TNFD disclosures in 2026, based on 2025 data. TNFD will announce an inaugural list of TNFD Adopters at the World Economic Forum at Davos in January 2024.

Why it Matters

TNFD’s framework is crucial in creating a better business understanding and management of nature-related financial risks, which in turn supports a shift in global financial flows towards more sustainable and nature-positive outcomes. 

Scoring & How to report

The TNFD Recommendations are voluntary and build upon the Task Force for Climate-Related Financial Disclosures (TCFD) recommendations. The disclosure recommendations are designed to solicit decision-useful, forward-looking information on the financial impacts of nature-related issues. 

Alignment

As mentioned, the TNFD framework complements the TCFD recommendations, providing a more holistic view of both climate and nature-related financial risks and opportunities. Much like the TCFD, the TNFD also aligns with other sustainability standards like ISSB and GRI, promoting a standardised ESG reporting landscape

How Nossa Data Integrates TNFD in its Platform

Nossa Data offers a TNFD template with comprehensive guidance for companies to respond to the 14 recommendations for nature-related dependencies, impacts, risks and opportunities disclosure.

Start your TNFD Journey with Nossa Data.

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Sources:

• https://tnfd.global/about/
• https://tnfd.global/wp-content/uploads/2023/09/FINAL-18-09-23-TNFD-final-recommendations-release.pdf