Taskforce on Nature-related Financial Disclosures (TNFD)

Let’s revisit the Taskforce on Nature-related Financial Disclosures (TNFD), which published its final recommendations in 2023. This framework offers structured guidance for identifying and disclosing nature-related risks, impacts, and opportunities. TNFD builds upon the four pillars and 11 disclosures of the well-established TCFD, while introducing 3 additional, nature-specific disclosures. It also presents the Tagar#LEAP approach, which stands for Locate, Evaluate, Assess, and Prepare, to support organizations in assessing nature-related dependencies and risks.

To begin implementing TNFD, organizations should first understand the fundamentals by raising internal awareness, educating leadership, becoming familiar with the TNFD framework and LEAP approach, and reviewing existing efforts such as TCFD or biodiversity assessments. We should then define the scope by scanning for relevant nature-related risks across their business model and value chain, using tools like ENCORE or the WWF Biodiversity Risk Filter to assess exposure, and optionally applying LEAP to identify leading indicators. Lastly, organizations need to develop a strategy by leveraging current insights, building processes to manage nature-related risks, aligning climate and nature disclosures, preparing a TNFD-aligned report, and outlining a roadmap with measurable milestones to strengthen capabilities over time.

So, have you thought about TNFD yet? Feel free to share your journey or any challenges you’ve faced.

Source:

https://www.linkedin.com/posts/akmalabudimanmaulana_recomendation-tnfd-activity-7332937360965308417-yi6k/?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAtGGkQBsxwMBmX3lEJO8btihnfBCaHqTz4