Home » NewsGRI and TNFD make reporting on biodiversity easier Date Posted 30th July 2024 London / Amsterdam, 30 July 2024 Interoperability mapping between TNFD Disclosure Recommendations and GRI Standards now available. Global Reporting Initiative (GRI) and the Taskforce on Nature-related Financial Disclosures (TNFD) have today published a joint interoperability mapping resource that gives a detailed overview of alignment between the TNFD Disclosure Recommendations and metrics and the GRI Standards. Over the past two years, the TNFD and GRI have worked closely together to support the development of each other’s guidance – notably GRI input into the TNFD Recommendations published in September 2023, and TNFD input into the recently published GRI Biodiversity Standard. Responding to feedback from market participants, the TNFD and GRI have developed a guidance document and correspondence table to help GRI’s 14,000 reporters globally align with the TNFD Recommendations, and assist TNFD Adopters in their sustainability reporting according to GRI Standards. The mapping underscores the high level of alignment achieved between the TNFD Recommendations and metrics and the GRI Standards reporting requirements and datapoints, including: The use of consistent nature-related concepts and definitions, including the five direct drivers of nature and biodiversity loss, as defined by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES). The reference and incorporation of GRI’s materiality approach focusing on impacts in the TNFD Recommendations and guidance, following the TNFD’s flexible approach to materiality. The TNFD LEAP approach has been designed to help organizations report in line with both impact and financial materiality. All the disclosures in GRI 101: Biodiversity 2024 are reflected in the TNFD Recommendations. All of the TNFD Recommendations are reflected in the GRI Standards, except those exclusively covering nature-related risk and opportunity identification and assessment. Strong consistency between the TNFD core global disclosure metrics and the related metrics in the GRI Standards. A first mapping of the TNFD sector metrics and the relevant GRI Sector Standards also highlights consistency at this level. The TNFD LEAP approach – guidance for identifying and assessing nature-related issues – is referenced in GRI 101. It pinpoints where impacts on biodiversity are most likely to be present and significant and provides guidance on measuring changes in the state of nature. GRI 101 uses the TNFD definitions and criteria when considering an organization’s location in or near ecologically sensitive areas. “The ongoing collaboration of GRI with the TNFD has resulted in this detailed mapping tool, supporting thousands of organizations worldwide that already report their biodiversity impacts using the GRI Standards. This resource enables them to seamlessly integrate the TNFD recommendations, allowing for simplified, single-source reporting. GRI and the TNFD will continue to cooperate to prevent the need for double reporting and ensure organizations can transparently and accountably disclose their impacts.” Bastian Buck, Chief Standards Officer at GRI “Nature risks are business risks that should be measured and disclosed in a more robust manner. Having adopted the GRI 304: Biodiversity (2016) since 2017 and as the first Singapore company to publish disclosures aligned with the TNFD Recommendations in 2024, CDL understands the importance of measuring and managing our nature-related dependencies, impacts, risks and opportunities for long-term resilience. As we look towards adopting the new GRI 101: Biodiversity 2024 in our upcoming sustainability reports, we welcome the interoperability between TNFD and GRI to harmonize the global sustainability reporting landscape.” Esther An, Chief Sustainability Officer of City Developments Limited (CDL), TNFD Taskforce Member and GRI Supervisory Board Member “The release of today’s mapping from GRI and the TNFD will further support market participants needing, or wanting, to report on their nature-related dependencies and impacts leveraging GRI Standards and metrics and in line with the TNFD Recommendations. We look forward to continuing to work with GRI to provide clear, practical support to market participants in their internal assessment and external reporting needs.” Tony Goldner, Executive Director of the TNFD Download the full press release. NOTES TO EDITORS About GRI The Global Reporting Initiative (GRI) is the independent not-for-profit organization and standard-setter that is the architect of the common global language used to assess and report on environmental, social, and economic impacts. GRI provides standards, tools and training that enable organizations of all sizes to harness the skills, capabilities and data they need to create sustainable, long-term value and unlock positive change in the world. For over 25 years, GRI has led a global multi-stakeholder process to develop and refine rigorous yet practical sustainability reporting. Using the GRI Standards, organizations can understand and act on the full range of their impacts. GRI’s consistent, comparable and globally-applicable standards have become the world’s most widely-used sustainability reporting framework. In January 2024, the GRI published GRI 101: Biodiversity 2024, a major revision to its earlier Biodiversity Standard, which is aligned to the TNFD Recommendations released in September 2023. About the TNFD The Taskforce on Nature-related Financial Disclosures (TNFD) is a market-led, science-based and government-backed initiative providing organizations with the tools to act on evolving nature-related issues. It was launched in June 2021 with the support of the G20 Sustainable Finance Working Group and financial support from a number of governments and philanthropic foundations. In September 2023, after a two-year design and consultation phase with market participants, the TNFD published its Disclosure Recommendations and supporting implementation guidance to encourage and enable business and finance to assess, report and act on their nature-related dependencies, impacts, risks and opportunities aligned to Target 15 of the Global Biodiversity Framework (GBF). With its corporate reporting recommendations published, the Taskforce is now focused on encouraging and enabling voluntary market adoption and supporting efforts to address the knowledge, capacity building and data needs of market participants. The Taskforce is comprised of 40 senior executives drawn from leading financial institutions, corporates and market service providers, with combined assets of over US$20 trillion. Twenty knowledge partners from leading science, standards, and data bodies support the work of the Taskforce. A group of over 1,400 organizations support the work of the Taskforce as institutional members of the TNFD Forum. Over 360 organizations globally have now committed to start reporting on their nature-related issues aligned to the recommendations of the TNFD. MEDIA CONTACTS GRI Tom Whittles Head of Media and Content [email protected] [email protected] TNFD Andra Enuica Communications and Engagement Officer [email protected] [email protected]