Forico publish an illustrative nature- and climate-related disclosure report using TNFD and TCFD aligned recommendations

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October 2023

Forico’s publish an illustrative example of nature-and climate-related financial disclosures

Forico has published an illustrative example of a report integrating the Taskforce for Climate-related Financial Disclosures (TCFD) and Taskforce for Nature-related Financial Disclosures (TNFD) methodologies in financial decision-making. The combined report is an example of how businesses can pave the way for the further anticipated development of biodiversity reporting. 

“TNFD is focussed on helping organisations bring nature into their decision-making and enabling integrated climate and nature reporting to investors and other stakeholders. We are delighted Forico is taking a leadership position in reporting on nature, and we look forward to more groups adopting this methodology.”

Executive Director of the TNFD Tony Goldner said

The Taskforce for Nature-related Financial Disclosures (TNFD) launched the nature-based framework for reporting at the New York City Climate Week in September. The TNFD framework built on that established earlier by the Taskforce for Climate-related Financial Disclosures (TCFD). The frameworks are similar in their structure and content, aimed at facilitating smoother adjustment for businesses already reporting according to TCFD requirements and seeking to integrate the two to reporting on joint impacts on climate and biodiversity.

An early adopter of the TCFD and TNFD methodologies, Forico has produced its Illustrative Example of Integrated TCFD + TNFD Disclosures, published in conjunction with TNFD and Deloitte Touche Tohmatsu, as an example to aid businesses looking to develop their own reporting.

The TNFD framework aims to facilitate the reporting of nature-related dependences, impacts, risk and opportunities. This provides business and financial markets with more robust information, assisting in strategic planning, risk management and decision-making around the allocation of assets, by shifting the flow of capital to nature-positive activities. 

“At this stage our report is an illustrative example of a report which combines the two approaches and we hope will provide a useful example as the corporate world moves towards mandatory disclosures of this sort,”

Forico’s CEO Evangelista Albertini. 

Although reporting through framework such as TNFD and TCFD is currently voluntary, adoption and support of such methodologies is expected to become mandatory in annual reporting cycle as businesses are required to communicate on their impacts on nature and climate. 

Forico expects to incorporate the combined framework into its corporate reporting for FY23-24, and into its annual Natural Capital Report published later this year.