11 new members join the Informal Working Group tasked with developing the work plan for a TNFD

The concept of a Taskforce on Nature-related Financial Disclosures (TNFD) has been gaining great momentum.

Back in September 2020, 62 organisations from across the finance sector, corporate sector, government and various consortia expressed their support for the TNFD by joining the Informal Working Group (IWG).

The IWG has since been meeting on a monthly basis as a group and a near weekly basis in separate work streams to reflect on the topics that will ultimately inform a work plan and framework for the Task Force for when it launches in the second half of 2021.

After careful selection by the TNFD partner organisations and IWG Co-chairs, another 11 organisations have since joined the working group. The new members are:

  • Corporates: H&M Group; Iberdrola; JBS; Reckitt Benckiser (UK); Rio Tinto; and Tesco
  • Finance institutions and regulatory bodies: Brazil’s National Development Bank (BNDES); the European Investment Bank; Raiffeisen Switzerland; and the Retirement Benefits Authority (Kenya)
  • Government: the Ministry of Agriculture, Nature and Food Quality of the Netherlands
  • Mariuz Calvet, Director of Sustainability and Responsible Investment, Banorte and Co-chair IWG, said: “We have been making great progress with the IWG, holding active discussions on the many and complex components that will make up a work plan and framework for the TNFD.

All members are thrilled to have these new organisations join the working group. To have some further corporates informing the IWG as well as to have an even more widespread geographical cover is hugely important to the success of bringing together a TNFD.”