Home » NewsTNFD welcomes ISSB decision on nature-related standard setting drawing on TNFD framework as adoption crosses 730 organisations and USD 22 trillion in AUM Date Posted 7th November 2025 São Paulo, Brazil | 7 November 2025 The Taskforce on Nature-related Financial Disclosures (TNFD) welcomes the decision by the International Sustainability Standards Board (ISSB) to move into a standard-setting process on nature-related risks and opportunities drawing on the disclosure recommendations, metrics and guidance of the TNFD, including relevant aspects of the LEAP approach. The ISSB has signalled it will introduce new or modified disclosure requirements to meet common investor information needs following the findings of its biodiversity, ecosystems and ecosystem services (BEES) research considering nature-related risks and opportunities. This announcement by the ISSB comes as the TNFD also announced in São Paulo, Brazil ahead of COP30 that voluntary market adoption of the TNFD recommendations now stands at 733 organisations, over USD 9 trillion in market capitalisation among listed companies and over USD 22 trillion in assets under management (AUM). The Taskforce welcomes the ISSB’s target to have an Exposure Draft ready by the Convention on Biological Diversity (CBD) COP17 meeting in October 2026. The TNFD looks forward to continuing to support the technical efforts of the ISSB as the ISSB continues its work on nature-related risks and opportunities. The TNFD also welcomes the ISSB’s confirmation that the TNFD framework builds upon the IFRS S1 Standard, which already covers nature-related issues. This reinforces the value that many market participants have seen in early adoption of the TNFD recommendations in order to help them disclose in accordance with IFRS S1. It also helps prepare them for the ISSB’s subsequent nature-related work in accordance with ISSB Standards, as well as current and expected future jurisdictional reporting requirements drawing from the ISSB Standards. As was the case with climate reporting aligned to the TCFD, it is in the self-interest of corporates and financial institutions to continue to assess their nature-related issues using the TNFD’s assessment guidance and commence reporting aligned to the TNFD recommended disclosures while the ISSB’s standard-setting work continues. It is clear that investors already value, and increasingly expect, nature-related disclosures to be part of the annual reporting cycle of the entities to which they provide capital, and the TNFD will continue to provide a sound basis for companies to meet investor information needs consistently with the ISSB’s IFRS S1 Standard and with the ISSB’s ongoing work. On the basis of the announcement by the ISSB, the Taskforce is due to complete all technical work in progress, including the development of additional sector guidance, by Q3 2026. It will pause the commencement of any further technical guidance and focus additional technical efforts on supporting the ISSB’s work programme. Subject to the outcome of the ISSB’s standard-setting process on nature-related issues, likely in 2027, the TNFD would then conclude its technical work programme. As the ISSB undertakes its standards-setting work, the TNFD will continue to build market awareness and capabilities on nature-related issues globally, through capacity-building materials. It will also continue to encourage other partner organisations to advance practical solutions to nature data challenges following the release this week of the Taskforce’s Recommendations for upgrading the nature data value chain for market participants. With ISSB Standards being adopted or otherwise used in nearly 40 jurisdictions around the world, the Taskforce recognises the significance of this step forward by the ISSB to bring nature-related issues into mainstream corporate reporting practice. This will be to the benefit of the resilience of investor portfolios and the resilience of the companies that assess their nature-related issues and disclose material information to investors and other capital providers. David Craig, Co-Chair, TNFD: “This week’s announcement by the ISSB is an important step towards nature being considered and embedded in an integrated way into the global foundations of corporate reporting. It will help shift the mindset across business about nature as a source of risk, resilience and value, and help inform better strategy, risk management and capital allocation decision making across economies. That is important for the resilience of the planet and the resilience of businesses and capital portfolios everywhere.” Emmanuel Faber, Chair, ISSB: “The ISSB recognises that there is a clear investor need for information about nature-related risks and opportunities. Drawing on the TNFD framework enables us to meet this need efficiently, reducing fragmentation and building on leading practice. We welcome TNFD’s decision to complete the technical work it currently has in progress and then to pause and provide its support as we advance the global baseline where it relates to nature through the ISSB. I encourage market participants to continue using the TNFD framework. This will help them prepare disclosures in accordance with IFRS S1 and prepare for meeting future incremental ISSB disclosure requirements.” Carine Smith Ihenacho, Chief Governance & Compliance Officer, NBIM: “We very much welcome the ISSB’s efforts to further analyze how to integrate nature-related disclosures into the global baseline of sustainability standards. As long-term investors, we need harmonised and financially relevant reporting on nature to inform our ownership and investment decisions. TNFD’s work has been instrumental in building the foundation for nature-related disclosures, and we will continue to support both TNFD and ISSB as they work together.” Noelia Garcia Nebra, Head of Sustainability and Partnerships, International Organization for Standardization (ISO): “ISO welcomes continued progress toward greater coherence and interoperability across global sustainability frameworks. The ISSB’s decision to draw on the TNFD framework in its work on nature-related disclosures reflects growing momentum for aligned, science-based tools that drive practical action on nature and biodiversity. TNFD has been a valued partner in bridging disclosure frameworks with implementation standards. ISO 17298 – Biodiversity for organizations – operationalizes TNFD’s LEAP approach, providing practical guidance for organizations of all sizes to embed biodiversity into strategy and decision-making. This is one example of how collaborative efforts are reinforcing the global architecture for nature-related action – enhancing transparency, accountability, and measurable progress.” David Blood, Senior Partner, Generation Investment Management: “We welcome ISSB’s decision to draw on the TNFD framework for disclosure of nature-related risks and opportunities. This is an excellent way to incorporate and carry forward TNFD’s work. As a next step, we support the plan to develop standard setting and educational materials as this will provide important clarity for companies and investors.” Voluntary adoption of the TNFD recommendations surpasses 700 organisations and USD 22 trillion in AUM The TNFD also announced in São Paulo that the total number of companies and financial institutions committed to getting started with voluntary reporting of their nature-related issues in line with the TNFD recommendations now stands at 733. This marks a 46% increase in market commitment to TNFD-aligned reporting since the CBD COP16 in Cali, Colombia in November 2024. Drawn from 56 countries or areas (including 26 emerging markets) and across 64 of 77 SASB SICS sectors, the publicly-listed companies now represent over USD 9.4 trillion in market capitalisation, an increase of 44% since November 2024. 179 financial institutions are now underway with TNFD-aligned reporting, representing USD 22.4 trillion in AUM, marking a 27% increase from COP16, including 25% of the world’s systemically important banks (GSIBs). There is a diverse range of notable new adopters across sectors, including: Biotechnology & pharmaceutical company Sanofi; Iron & steel producers Nippon Steel Corporation and Tata Steel; Transportation companies Bangalore International Airport Limited, Adani Ports and Special Economic Zone Limited, Motiva and Wallenius Wilhelmsen; Auto parts producer Pirelli; Agriculture, food and beverage companies AMAGGI and Federación Nacional de Cafeteros de Colombia; Consumer goods companies Burberry Group PLC and Cascades; Real estate and construction companies Gammon Construction Limited and Fibra Uno; Electronics companies Electric Power Development Co., Ltd and Murata Manufacturing Co., Ltd; and Financial institutions CAIXA and Régia. All TNFD Adopters can be viewed here. These organisations have signalled their intention to begin adopting the TNFD recommendations and publishing TNFD-aligned disclosures as part of their annual corporate reporting by FY2026 or earlier. Fernando Álvarez Toca, CFO, Fibra Uno: “As CFO, I view nature-related risks as core financial risks. We are adopting the TNFD recommendations to embed water, flood and biodiversity considerations into underwriting, asset management and capital allocation. Starting in 2025, we will publish TNFD-aligned disclosures to provide investors with clear, decision-useful insight on our dependencies, impacts, risks and opportunities.” Pedro Sutter, Vice President of Sustainability, Risk and Compliance, Motiva: “The adoption of the TNFD strengthens the biodiversity agenda within our business strategy and reaffirms our leadership role in building a resilient, regenerative infrastructure that is connected to the needs of society and the planet. By measuring risks, mapping opportunities, and implementing concrete action plans, we are contributing to a new nature economy in Brazil and aligning our decisions with the creation of long-term sustainable value.” Sandrine Bouttier-Stref, Global Head of CSR/Sustainability, Sanofi: “We are proud to be a TNFD Adopter as it’s a powerful step forward in our sustainability journey at Sanofi. TNFD is not only about our impact on nature but the impact of Nature on our business such as the impact of natural raw material disruption for our products delivery and water lacking in our manufacturing plant. Thinking adaptation and resilience is key.” Anette Rønnov, Chief Sustainability Officer, Wallenius Wilhelmsen: “Protecting the planet’s biodiversity is critical to preserving a healthy ecosystem that can sustain society. As a global shipping and logistics provider, we diligently work to manage our impacts on the planet. The TNFD framework has been a key part of our efforts, helping us better understand our footprint and interactions with sensitive areas in the oceans.” Luis Felipe Bismarchi, Acting Director of Sustainability and Digital Citizenship, CAIXA: “CAIXA is proud to be a TNFD Adopter, reinforcing its commitment to the regeneration of nature and the transformation of people’s lives. The adoption of TNFD recommendations strengthens our 2030 strategic plan by integrating robust metrics on biodiversity and natural risks into our financial decisions. The environmental restoration actions we promote in the territories where we operate are, in practice, effective measures for mitigating socio-environmental risks. We hope that this journey will enhance our ability to generate positive impact with transparency, innovation, and engagement, contributing to a nature-positive economy and to the resilience of Brazilian communities.” Germán Bahamón, General Manager, Colombian Coffee Growers Federation: “With 98 years of history representing 560,000 coffee-growing families, the Colombian Coffee Growers Federation is taking a major step forward by adopting the innovative TNFD framework. The announcement highlights the value of natural capital, biodiversity, and climate resilience in coffee farming. This commitment reflects the Federation’s work in protecting watersheds and Cenicafé’s leadership in the ongoing pursuit of environmentally-friendly agricultural practices, solidifying Colombia’s position as a coffee producer in harmony with nature.” Hugo D’Amours, Vice-President, Communications, Public Affairs, Sustainability and Environment, Cascades: “Rooted in the circular economy since 1964, Cascades prioritizes recycled fibres to manufacture its packaging and hygiene solutions, and sources virgin intake meeting FSC certification standards. We recognize that we can always do more to protect nature, which is why we have targets in place to reduce our footprint on natural resources and limit GHG emissions as part of the Science-Based Targets initiative (SBTi). We are proud to join the TNFD Adopter community to better understand our nature-related risks, impacts, and dependencies. We trust that this process will not only guide our actions but also allow us to embed nature-related topics into our strategies.” Javier Suárez, CEO, Davivienda: “At Davivienda, we recognize climate and biodiversity as powerful drivers of innovation and opportunities to support our clients while creating value for nature. We integrate both dimensions into our sustainable business strategy and risk management. As an adopter of the TNFD, we strengthen our commitment to an integrated agenda that fosters ecosystem health and community resilience across Latin America. We believe advancing financial solutions that protect nature and drive climate action is key to making the world our home—a more prosperous, inclusive, and greener home for everyone.” Kevin O’Brien, Chief Executive, Gammon Construction: “Gammon is proud to lead the way in integrating nature-related risk and opportunity management into our operations. Through our United Ambitions strategy, we recognise the vital interconnection between nature and climate, and are committed to building a net-zero, nature-positive future. We will continue to expand the scope of our TNFD assessments and partnerships, embedding nature and biodiversity considerations into our risk management and decision-making processes to drive environmental stewardship across our projects and the wider industry.” Daniel Wasserteil, Chief Sustainability Officer, TRAXION: “TRAXION’s commitment to the planet goes beyond addressing climate change and reducing greenhouse gas emissions—it extends to the preservation of natural ecosystems. In 2024, we completed our first assessment of TRAXION’s nature-related impacts using the TNFD framework, becoming one of the first companies in Mexico—and the first in the transportation and logistics sector—to do so. We are proud to be among TNFD’s adopters this year, reaffirming our leadership in integrating nature-related considerations into sustainable business practices.” Raul Troncoso, Regional Sustainability Manager, Cencosud: “At Cencosud, respect for biodiversity is a key focus of our environmental management policy. As a retail company, we understand the importance of adopting the TNFD — a framework that will enable us to strengthen the sustainability of Cencosud and the environment in which we operate. Sustainability is a strategic pillar across all the markets where we are present, aligned with our purpose of serving in an extraordinary way at every moment.” Giovanni Tronchetti Provera, Executive Vice President, Sustainability, New Mobility and Motorsport, Pirelli: “Preserving nature and reversing its decline is vital for humanity and our overall economic prosperity. At Pirelli, the identification and management of value chain dependencies, impacts, risks, and opportunities related to nature is fully integrated into the group’s development strategy. In this context, signing on to the TNFD recommendations is a meaningful step on a journey made up of actions guided by transparency and science.” About the Taskforce on Nature-related Financial Disclosures: The Taskforce on Nature-related Financial Disclosures (TNFD) is comprised of 40 business and finance leaders from around the world and was launched in 2021 with the support of the G20. TNFD provides recommendations and guidance for market participants and other stakeholders about how nature beyond climate should be assessed, managed and reported. It has built a global movement of support and action, including over 730 organisations and over USD 22 trillion in assets under management (AUM) now committed to reporting their nature-related issues aligned with the TNFD recommendations published in September 2023. The TNFD recommendations build on the previous approach and recommendation of the Task Force on Climate-related Financial Disclosures (TCFD) and are aligned with the impact standards of the GRI, the European Union’s Corporate Sustainability Reporting Directive (CSRD) and the sustainability reporting standards of the International Sustainability Standards Board (ISSB). For press & media, please contact Rita Lockheart, Associate Director of Communications, at [email protected].