Chapter 4 - Reporting, standards, directives and regulation
The TNFD is developing a framework for reporting financial risks related to the loss of biodiversity and ecosystem services.
It is an initiative of a large network of private stakeholders and builds on the same structure as the TCFD (Framework for Reporting Climate-related Financial Risks), but places more emphasis on location-specific reporting, as biodiversity and ecosystems are linked to a geographical location.
The framework is intended to promote adaptation to the new standards and regulatory requirements that place new demands on market participants. It aims to encourage companies and financial institutions to start reporting nature-related dependencies, impacts, risks and opportunities at an early stage given the urgent need to address both nature loss and climate change in an integrated way.
The TNFD´s work build on seven principles - market usability, science-based, nature-related risks, purpose-driven, integrated and adaptive, climate-nature nexus and globally inclusive.
The TNFD was launched in 2021 and received broad support from financial institutions, companies, governments and civil society. Many stakeholders, including Mistra BIOPATH partners, are testing a beta version and providing feedback. The launch of the final recommendations is expected in the fall of 2023.
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https://www.mistrabiopath.se/news/biopath-partners-provide-feedback-paper-to-tnfd