5 nature-positive trends to watch out for in 2023
World Economic Forum (January 2023)
An insight exploring five key nature-positive trends that are likely to develop during the course of 2023.
Forestry-Backed Assets Design
Imperial College Business School (January 2023)
A new report looking at security design mechanisms in relation to forestry projects “bundled into forestry-backed securities.”
ESG Watch: Why this year could be a watershed moment for investors on nature-related risk
Reuters (January 2023)
This op-ed explores why 2023 could be an important year for investors looking at nature-related risks – in particular how ESG is becoming more politicised, and the signs of progress from governments around the world.
Business Action for a Nature-Positive World: Welcome to the Future
INSEAD (January 2023)
An insight about INSEAD (and partners’) new free app, which will provide uses with curated educational materials on nature for business to allow professionals to learn quickly and easily about key issues and how to respond to them.
Biodiversity Risk Filter
WWF (January 2023)
A new free online tool which allows companies and financial institutions to explore and respond to their biodiversity-related risk to enhance their resilient. It operates at both the corporate level and the portfolio level.
The Greenwashing Hydra
Planet Tracker (January 2023)
A fact sheet introducing greenwashing – a key reputational risk – and six prevalent tactics used within it to mislead consumers and investors into thinking a company’s activities are more environmentally friendly than they are.
Global Risks Report 2023
World Economic Forum (January 2023)
The World Economic Forum’s annual Global Risks report shows biodiversity loss and ecosystem collapse as the fourth most pressing risk in the next decade, with nature-related events such as natural resource crises, failure to mitigate climate change, and large-scale environmental damage incidents being in the top ten in the next two years.
Global pollinator losses causing 500,000 early deaths a year – study
The Guardian (January 2023)
A report estimating the social impact of the decline in pollinators. A decrease in insect populations means that there are fewer fruits and vegetables available, which are leading to the lower consumption of these foods, unhealthier diets, and deaths from preventable diseases.
The hidden underwater forests that could help tackle the climate crisis
The Guardian (January 2023)
An insight covering how kelp forests can help tackle climate change by storing carbon dioxide.
Restor (January 2022)
A tool and network which works to advance critical nature-based solutions. It enables the exchange of data, local knowledge, and funds – as well as mapping areas in which nature is being restored.
Why Is Wall Street So Hot for Biodiversity Right Now?
Bloomberg UK (December 2022)
An insight exploring the surge in interest from the financial community in biodiversity-related issues.
Valuing Nature: The case for nature-related assessment and disclosure
ERM (December 2022)
A report which addresses the challenges facing companies when it comes to nature and connects the Capitals Coalition’s Natural Capital Protocol with TNFD’s beta v0.3 framework.
Joint Donor Statement on International Finance for Biodiversity and Nature
(UK Government 2022)
A paper published by the UK Government which shows it – and its partner governments’ – commitments to providing funding for biodiversity finance.
Biodiversity Risk: Legal Implications for Companies and their Directors
(Commonwealth Climate and Law Initiative 2022)
This report analyses the relevance of biodiversity risks to companies and economies in the discharge of directors’ global legal duties.
COP15: Key outcomes agreed at the UN biodiversity conference in Montreal
(Carbon Brief 2022)
An in-depth look at the outcomes of COP15 – including the context, formal negotiations, the issues around the COP, and what will happen on the road to COP16.
Kunming-Montreal Global Biodiversity Framework
(UN Convention on Biological Diversity 2022)
The finalised text of the 2030 Kunming-Montreal Global Biodiversity Framework, which was agreed at the Convention on Biological Diversity’s COP15 in December 2022.
New in Biodiversity Finance: COP15 Delivers
An op-ed exploring the outcomes of COP15 and what it means for the financial community.
The collapse of insects
A graphic exploring the decline in insect populations across the world and why this is a huge problem.
7 reasons our planet might not be doomed after all
(Vox News 2022)
This insight looks at seven reasons to be optimistic about the effort to conserve the world’s biodiversity, including the lack of coverage of restoration success stories and the increase in tools being developed to track plants and animals.
The Coming Wave of “Natural Capital” and Biodiversity Shareholder Activism and Stewardship Pressure on Boards
(Harvard Law School Forum on Corporate Government 2022)
An insight exploring shareholder activism on biodiversity issues.
Coextinctions dominate future vertebrate losses from climate and land use change
(Science Advances 2022)
A new scientific study modelling coextinctions (the loss of species caused, directly or indirectly, by other extinctions) on a planetary scale. It shows that up to 34% more species would become extinct than previously predicted under the worst climate change predictions due to a lack of consideration of co-extinctions. Carnivores and omnivores would be most affected.
Blueprint to better our environment and support our farmers
(Mirage News 2022)
A news piece covering the NSW Government (Australia’s) Natural Capital Statement of Intent which shows how the NSW Government is going to tackle environmental conservation.
Business is using COP15 to show it’s serious about saving nature; environmentalists aren’t so sure
(The Financial Post 2022)
This article explores the tensions between business and environmentalists over the role of the private sector in biodiversity conservation.
Silence on biodiversity is deadly
(The Financial Times 2022)
An op-ed exploring the structural challenges faced by negotiators and organisers of the COP15 conference, and why, despite this, the conference – and action on biodiversity and nature – is vitally important.
This beef and wool farmer has turned climate change to advantage
(Financial Review 2022)
A long-read case study of an Australian cattle farmer who was a pioneer in holistic (regenerative) farm management.
Interactive: Who wants what at the COP15 biodiversity summit
(Carbon Brief 2022)
Carbon Brief has conducted an wide-ranging assessment of priority issues for various parties attending the summit, presenting these in an interactive format which covers not only the priority issues but stances on major topics discussed at the convention as well as specifically contentious issues.
Climate-focused development banks neglect nature ahead of COP15
An insight showing that public development banks are focusing on climate at the expense of nature, and calling for this to change at COP15 in Montreal.
Biocredits to finance nature and people: Emerging lessons
(International Institute for Environment and Development 2022)
A report which reviews and assesses three existing biocredit methodologies and explores three challenges in implementing an effective and fair biocredit market.
Unilever’s interactive Google Earth platform highlighting how they are working on five key landscape initiatives to protect and restore nature in areas in which they work. The pdf report of this work can be accessed through the platform.
Roadmaps to nature positive: Guidelines to accelerate business accountability, ambition and action for a nature-positive future
Draft guidance for consultation on actions to align strategies with the shared goal of a nature-positive planet by 2030. This has been developed by WBCSD and 60 leading companies and partners. The consultation closes on 31 January 2023.
Accelerating business along the road to a nature-positive future
An insight drawing together research which shows the biggest barriers to corporate action on nature, and the five most impactful solutions which could be undertaken to foster positive change.
Valuing nature conservation
A methodology to evaluate where safeguarding natural capital could have the biggest impact on climate, economies and health.
Norwegian oil fund to vote against companies without net zero targets
(Financial Times 2022)
The world’s largest sovereign wealth fund has committed to becoming a more long-term focused and contrarian investor, and will vote against companies who have not set net-zero targets.
What a living whale is worth — and why the economy should protect nature
Financial economist Ralph Chami explains the value of bringing the language of dollars and cents to conservation — and offers his vision of a new economy that would profit off regenerating nature, not extracting from it.
Beyond climate: Addressing financial risks from nature and biodiversity loss
(LSE & Grantham Research Institute on Climate Change and the Environment 2022)
A paper that discusses the need to extend the scope of central banks’ approach to the environmental crisis to include the drivers of biodiversity loss, how climate and biodiversity interact, and the transmission channels of nature-related risk.
Nature in the balance: What companies can do to restore natural capital
A report outlining the fact that corporate action is a key driver of nature restoration, and what actions corporates could take to begin this change.
ISSB describes the concept of sustainability and its articulation with financial value creation, and announces plans to advance work on natural ecosystems and just transition
ISSB announce that they have chosen a definition of sustainability, and that they will be addressing natural ecosystems as they impact climate, building on the work of the TNFD.
COP15: Carney calls on FIs to integrate nature and biodiversity in transition plans
(Responsible Investor 2022)
An insight covering Mark Carney’s speech at COP15 at which he called for financial institutions to include nature in their transition plans, and for parties to the convention to mandate the alignment of financial flows with nature goals. The insight also covers other big nature-finance events that took place at COP15.
(Planet Tracker 2022)
Planet Tracker’s new database covers the extent to which companies are exposed to overfishing, illegal fishing, and other ocean-related sustainability risks.
Biodiversity fundamentals: The business case for action
(UN Global Compact 2022)
A sixty-minute course exploring the business case for action on nature loss, helping participants understand the importance of biodiversity to their business and what existing pioneers are already taking action on.
New data shows companies recognising biodiversity risks but majority not turning commitments into action
An insight from CDP showing that whilst the largest ever self-assessment survey shows that companies are ready and willing to report on biodiversity, however the majority of respondents are not willing or have not taken practical action.
Nature is an asset: Investors must do more to support biodiversity
(South China Morning Post 2022)
An op-ed arguing that businesses and investors should do more to put the world on a path of sustainable growth and reduce biodiversity loss.
First Set of draft ESRS
EFRAG have released their draft sustainability reporting standards to the European Commission, which will be consulted by EU bodies and Member States before adoption in June 2023. Companies will have to begin applying them from 2024.
10 key takeaways from COP27 on nature’s critical role
(World Economic Forum 2022)
An insight exploring the top takeaways on how nature was a standout topic at COP27 – including, for example, the calls on structural reform of finance for nature and climate, strong signs of political will on tackling deforestation, and the implementation of forest pledges.
WWF: World must not miss its chance to secure a ‘Paris’-style agreement for nature at COP15
A report from WWF outlining the need for an ambitious agreement at COP15 in Montreal, and what the organisation’s expectations are of the negotiation process.
‘We need a breakthrough deal on biodiversity’: Can Montreal summit deliver for nature?
(The Guardian 2022)
An op-ed exploring the lack of progress on biodiversity targets in the last 12 years and what needs to happen at COP15 in Montreal.
G20 Bali Leaders’ Declaration
The G20 Bali Leaders Declaration – which, in target 14, highlights the G20’s commitment to achieving the post-2020 Global Biodiversity Framework and tackling biodiversity loss.
Our Climate’s Secret Ally
An infographic showing how Earth’s natural systems play a vital role in regulating the climate and protecting humanity – for example, that the biosphere has absorbed 54% of man-made greenhouse gas emissions over the past 10 years.
Leather Also Has a Role to Play in the Fight Against Deforestation
A report outlining the role leather companies can play in encouraging and supporting sustainable practises, and the shift towards Deforestation and Conversion Free leather.
Guide on Biodiversity Measurement Approaches (2nd Edition)
(Finance for Biodiversity Pledge 2022)
A guide outlining multiple approaches to measuring biodiversity, which aims to “help financial institutions to find a measurement approach that fits their needs.” It provides a comprehensive overview and evaluation of seven tools: BFFI, BIA-GBS, CBF, GBSFI, GID, ENCORE, IBAT.
Why nature holds the key to meeting climate goals
An insight explaining how nature helps tackle the climate crisis, and how it can support climate adaptation.
Call to action to ensure transition to a net zero and nature positive economy
A call to action addressed to central banks and financial supervisors on the twin crises of climate change and nature loss.
The Exchanges View – The Why and How of Managing, Assessing, and Disclosing on Nature-related Risks
A panel consisting of representatives from stock exchanges around the world discussing nature-related risks. Live-streamed from COP27.
The Land Gap Report 2022
The Land Gap Report (November 2022)
An in-depth report considering how governments are using land for carbon removal in their climate pledges, and what the implications are for land use in each of these scenarios. The report shows that “countries should seek to reduce their expected reliance on land-based carbon removal and must instead make much deeper cuts in emissions.”
Biodiversity Finance Reference Guide
IFC (November 2022)
This guide by the IFC outlines an “indicative list of investment projects, activities, and components that help protect, maintain, or enhance biodiversity and ecosystem services, as well as promote the sustainable management of natural resources.” It is aimed at investors to help identify what is eligible to be classed as biodiversity finance.
TNFD Forum Webinar: Introducing the third iteration (v0.3) of the TNFD beta framework
In this webinar, the TNFD releases the third version of its beta framework. Hear from Taskforce Members Jessica McDougall (BlackRock), Judson Berkey (UBS), and Alexis Gazzo (EY), along with Tony Goldner, TNFD’s Executive Director, and Emily McKenzie, TNFD’s Technical Director on the contents of the new release, which include updates to the draft disclosure recommendations, a discussion paper on scenarios, and a discussion paper on the social dimensions of nature-related risk.
Moody’s: Debt Exposed to High Environmental Credit Risk Rises to $4.3 Trillion
Moody’s Investor Service has released a new analysis exploring how over $4 trillion in listed debt is exposed to a larger degree of credit risk associated with environmental considerations. This insight explores the work done and what it means.
The MSCI Net-Zero Tracker
This is a periodic tracker by MSCI that looks at the collective progress of publicly listed companies in the MSCI ACWI Index in keeping global warming below 2 degrees.
What is Cop15 and why does it matter for all life on Earth?
(The Guardian 2022)
A continuously updated insight on COP15, why it’s important, what the goals are, and what is happening.
How to re-embed our economic and financial systems within planetary boundaries?
Banque de France (October 2022)
This speech by Sylvie Goulard, the Deputy Governor of the Banque de France, opened the conference on the frontiers of climate and nature in macroeconomics and finance. It covers what science says about the current state of the biosphere, what this means for central bankers and supervisors, and what might be required to address the situation.
How can the building materials sector tackle biodiversity loss?
World Economic Forum (October 2022)
An insight outlining several strategies for the building materials sector to tackle biodiversity loss, including creating biodiversity hotspots at quarries and supporting nature-positive policy.
COP 15 — the ‘Paris moment for nature’: Is finance on board?
UNPRI (October 2022)
This is a webinar on what the financial sector can expect from this “Paris moment for nature” at COP15 in December 2022. The speakers are Elizabeth Mrema (the Executive Secretary of the CBD), Eric Usher (Head of UNEP FI), Suresh Weerasinghe (Head of Leveling Up & Investments at Aviva), Elias Albagli (Director of the Monetary Policy Division, Central Bank of Chile), and Emine Isciel (Head of Climate and Biodiversity, Storebrand Asset Management).
How Elizabeth Mrema is striving to affect a ‘Paris moment’ for nature
Reuters (October 2022)
An in-depth interview with TNFD Co-Chair and CBD Executive Secretary Elizabeth Mrema on the TNFD and her expectations of COP15 in Montreal, which takes place in December 2022.
Businesses call for nature impact disclosures to be mandatory by 2030
The Guardian (October 2022)
An insight outlining the growing market demand for mandatory nature-related disclosures to be included in the negotiations at COP15.
TNFD Piloting Clinic 2: The LEAP Approach for Financial Institutions: Scoping, Locate & Evaluate
The second TNFD piloting clinic is on the LEAP Approach for Financial Institutions, focusing on the Scoping, Locate & Evaluate stages. The speakers are from S&P Global on their data work around mining and renewable energy, and asset manager Sail Ventures on their &Green Fund which is primarily invested in cattle in Colombia.
Funding the green economy: celebrating the anniversary of the first green gilt | DCM Deep Dive
(London Stock Exchange Group 2022)
A video celebrating the first anniversary of the UK Government’s green financing programme and the opportunities it presents to the market.
Financing Nature: COP27 Special
Green Finance Institute (October 2022)
A podcast episode starting Financing Nature’s COP27 special series. Hosts Helen Avery and Jessica Smith speak to Champions Finance Lead Sagarika Chatterjee about the work of the Glasgow Financial Alliance for Net Zero (GFANZ) and Jose Pugas, the head of responsible investments and engagement at JHP Asset Management in Brazil about the work of the Innovative Financie for the Amazon, Cerrado, and Chaco (IFACC).
Biodiversity is rising up the investment agenda
ESG Clarity (October 2022)
An op-ed exploring the three key areas in which biodiversity is becoming an ESG priority – regulation, data, and policy.
Integrating climate and nature: the rationale for financial institutions
Cambridge institute of Sustainability Leadership (September 2022)
A report arguing for the integration of climate and nature considerations by financial institutions considering the issues such as materiality, unintended consequences, compounding effects, potential synergies and macroprudential risks.
How to trace $600 billion – traceability could add 60% to global seafood profits
Planet Tracker (September 2022)
Planet Tracker’s report on the traceability of seafood shows that only 29% of it is traceability-ready – in that it is harvested acceptably enough for the harvester to be associated with the catch, and that it is harvested in an area where a traceability initiative can be relatively easily implemented. It also explores the financial benefit of investing in traceable seafood supply chains.
How can finance shape a nature-positive economy?
AGEFI (September 2022)
This insight looks at the growth in opportunities for scaling credible net-zero and nature-positive investment – for example, the rehabilitation of degraded farmland which would reduce the amount of land conversion needed for agriculture, in addition to how private finance, governments, and central banks can create the conditions necessary for this to happen.
Moody’s Has a $1.9 trillion warning over biodiversity
Bloomberg UK (September 2022)
Moody’s Investor Service has announced that almost $1.9 trillion is at risk as biodiversity loss escalates nature-related risks. It shows that nine sectors contribute to this $1.9 trillion which have high or very high exposure to natural capital, a decline in which could lead to very material financial implications for these companies.
Natura finis magistra – acknowledging nature-related risks to make finance thrive
European Central Bank (September 2022)
A keynote speech by Frank Elderson, who sits on the Executive Board of the ECB on “moving beyond climate: integrating biodiversity into financial markets” which covers nature-related risks and how the ECB – and the banks it supervises – are beginning to assess and consider them.
Fidelity launches biodiversity fund
FT Adviser (September 2022)
An announcement about Fidelity’s new sustainable biodiversity fund, which joins Fidelity’s sustainable “family of funds”, all of which have 70% or more of their net assets invested in issuers that maintain sustainable characteristics.
TNFD (Taskforce on Nature-related Financial Disclosures)
Climate Asset Management (October 2022)
A short whitepaper introducing the TNFD and Climate Asset Management’s pilot of the TNFD framework with the Phoenix Group.
Embracing Nature: How Businesses Can Engage with New Environmental Imperatives
Marsh McLennan (September 2022)
“Embracing Nature provides an overview of nature-related risks and opportunities, highlights how these are already material to businesses, discusses recent market and regulatory developments, and describes key concepts, tools, and frameworks used for assessment and reporting.”
New initiative tracks global finance for nature
OneEarth (September 2022)
A new initiative called Nature Finance Info has been launched, the first ever accounting totaling the latest financial commitments from governments, foundations, and corporates to support nature conservation.
How innovative finance is helping to protect Indonesia’s forests
UNEP FI (September 2022)
An insight outlining the work of the Tropical Forests Financing Facility, which funded Indonesian oil palm and rubber companies to plant on marginal land, thereby protecting untouched primary forests.
Asian Markets: Biodiversity Report Card
Nature Positive (September 2022)
A report exploring how the largest companies in Asia are currently addressing biodiversity-related issues.
Political Vision: The 10 Point Plan for financing biodiversity
UK Government (September 2022)
A shared vision for financing biodiversity, which 16 countries have signed up to.
A Plan for People and Planet
ESG Investor (September 2022)
This insight introduces and explains nature-based climate solutions and nature-based carbon credits, and introduces the new interactive dashboard NUS has built can estimate how much carbon a given area can sequester and what return on investment that will provide.
How this new mapping tool can support the search for high-quality nature-based carbon credits
NUS Centre for Nature-Based Climate Solutions (September 2022)
This insight introduces and explains nature-based climate solutions and nature-based carbon credits, and introduces the new interactive dashboard NUS has built can estimate how much carbon a given area can sequester and what return on investment that will provide.
How can businesses support global efforts for a nature-positive future?
UNDP-BIOFIN (September 2022)
This report presents the results of a study in five countries (Costa Rica, India, Indonesia, Mexico, Zambia) as to the readiness of their policy and regulatory environments to legislate and regulate on nature-related risk and the preparedness of institutions to make nature-related disclosures.
4 key steps for finance to take to tackle the growing water crisis
GreenBiz (September 2022)
The climate crisis is exacerbating the global water crisis, but business and finance are being slow to respond with persistent gaps in financing for water security. This insight sets out key steps financial institutions can take to address the issue.
Engaging Mozambique’s business and financial sectors on biodiversity
IUCN (September 2022)
An insight looking into the IUCN’s BioDev2030 programme in Mozambique and how it is engaging with business and finance in the country specifically focusing on two workshops held.
Valuing natural capital: Asia has the most to lose, and gain
The Business Times (September 2022)
An op-ed outlining the significant leadership the Asia-Pacific region could take on investing in nature and shifting the global economy to nature positive.
Where the world’s largest companies stand on nature
McKinsey (September 2022)
According to recent research, over half of insurers and re-insurers believe that nature-related risk is material to their underwriting business, however nature risk is not being assessed by underwriters. This report provides a framework for insurers and reinsurers to assess nature risk in their underwriting activities.
Why nature matters: Nature-related risks and opportunities for insurance underwriting
Cambridge Institute of Sustainability Leadership (September 2022)
According to recent research, over half of insurers and re-insurers believe that nature-related risk is material to their underwriting business, however nature risk is not being assessed by underwriters. This report provides a framework for insurers and reinsurers to assess nature risk in their underwriting activities.
Location Matters: Using spatial intelligence for business action on nature and climate
World Economic Forum (September 2022)
A briefing paper on the importance of location for nature and climate, and how spatial intelligence is vital to the net-zero, nature-positive transition. It covers the need for spatial intelligence on nature, the potential for spatial intelligence on nature, and action points for both businesses and governments.
Biodiversity Credits: Unlocking Financial Markets for Nature-Positive Outcomes
World Economic Forum (September 2022)
A briefing paper on biodiversity credits – the current state of play, issues and questions about biodiversity credits, all illustrated by several case studies.
Biodiversity quickly rises up the ESG investing agenda
The Financial Times (September 2022)
An insight exploring the rise of biodiversity as one of the most important themes in sustainable finance and investing, including examples of asset managers beginning to invest in natural capital.
Barbados Swaps $150 Million of Sovereign Debt to Save Sea
Bloomberg UK (September 2022)
An insight explaining how Barbados has bought back some of its sovereign debt, thus raising money to finance the conservation of its coral reefs and other ocean environments.
How business and finance can contribute to a nature positive future now
Business for Nature (October 2022)
A report giving an update on the ways business and finance can contribute to nature positive activities. It defines what nature-positive is, outlines why it is important for business and finance, and gives recommendations for credible contributions business and finance can make.
New biodiversity commitments announced as world leaders declare nature summit COP15 a priority
Leaders Pledge for Nature (September 2022)
New commitments for a more nature-positive world were revealed at a high-level side event to the United Nations General Assembly including new funding from the German Government, an accelerator for action on biodiversity from the Colombian Government, and a 10-point plan for financing biodiversity, initially endorsed by 16 countries.
Raising the bar: A baseline review of finance sector action on deforestation
Global Canopy (October 2022)
A new report on Global Canopy’s Deforestation Action Tracker, which monitors 557 financial institutions with important climate commitments (including those in Race to Zero and the Glasgow Financial Alliance for Net Zero (GFANZ)) and tracks how much action they have taken on deforestation and the human rights abuses that come with it.
Nature Risk – an analysis of use and applicability in the Nordic countries
Nordic Co-operation (September 2022)
This report gives an overview of the concept of nature risk and assesses its applicability to Nordic countries. It find that nature risk is applicable, and recommends that Nordic countries take it into account in key policies, regulations, and sectors, aligning with the EU Taxonomy and the TNFD Framework.
Nature tech: what you can measure you can manage
Nature4Climate (September 2022)
A white paper introducing Nature tech and all the innovations needed to sit alongside existing nature-based solutions and other responses to the climate and nature crisis.
Nature in an Era of Crises: Shaping Purposeful Nature Markets
Taskforce on Nature Markets (September 2022)
A new report from the Taskforce on Nature Markets maps a detailed taxonomy and economic sizing of nature markets, i.e. those markets that explicitly value and trade nature including voluntary carbon credits, conservation, soft commodities and nature-based solutions for carbon sequestration.
Elizabeth Mrema: Businesses must prepare for greater scrutiny over nature-related risks
The Banker (September 2022)
An op-ed by CBD Executive Secretary Elizabeth Mrema on the post-2020 Global Biodiversity Framework and the importance of the private sector working with governments to meet targets on nature.
Unpriced nature and climate risk could wipe $ billions off world’s food and agriculture companies, as investors urged to eliminate deforestation from investments
UNFCCC Race to Zero (September 2022)
This insight covers a key point made at New York Climate Week that investors need to remove deforestation in their supply chains. It is supported by new research from the UN-backed Race to Zero campaign that highlights how ignored the land transition still is for many investors.
The nature of risk
(Bank of England 2022)
A speech given by Sarah Breedan, the Executive Director of Financial Stability, Strategy, and Risk at the Bank of England on nature-related financial risk.
TNFD Piloting Clinic 1: The LEAP Approach: Locate & Evaluate
This webinar is the first of TNFD’s piloting clinics, which are designed to share learnings from ongoing pilots of the TNFD’s beta framework. The pilots presented in this session focus on the first two sections of the LEAP Approach, Locate and Evaluate, and features speakers from Acciona, a Spanish renewables and infrastructure company, and Reckitt, a UK-based healthcare and consumer goods company, along with the organisations supporting them in their piloting.
System of Environmental Economic Accounting (SEEA)
(UN Big Data Learning 2022)
A series of training courses on understanding the UN System of Environmental Economic Accounting (UN SEEA) in multiple languages.
Integrating climate and nature: The rationale for financial institutions
(Cambridge Institute of Sustainability Leadership 2022)
A report which considers the importance of financial institutions integrating their approach to climate and nature in order not to miss key risks and opportunities for their business.
Deforestation risks for banks
UNEP FI (September 2022)
A global training programme to support the banking community understand how deforestation-risk commodities in their investment portfolios contribute to their overall risk exposure and how to mitigate this exposure through investment in Nature Based Solutions. The training course is made up of four modules.
Why Chinese companies should accelerate action for biodiversity conservation
World Economic Forum (September 2022)
An op-ed exploring how the Chinese business community can contribute to biodiversity conservation.
Financial Institutions Must Address Deforestation and Conversion Risks
WWF (June 2022)
A practical guide highlighting the risks posed to financial institutions by deforestation and land conversion and explaining how financial institutions can eliminate these risks from their portfolios.
Nature Risk – No Longer ‘If’, But ‘How’ and ‘Where’
UNEP FI (September 2022)
An insight mapping the action of central banks on nature-related risk, and where central banks and private institutions can work together for a more nature-positive world.
Navigating ESG Reporting Frameworks
Verdani Institute for the Built Environment (August 2022)
A comprehensive guide to ESG reporting frameworks. It features an introduction to ESG, and overviews of 41 frameworks, regulations, aggregators, and initiatives, which are classified by the following: standards and guidance frameworks, voluntary disclosure frameworks, involuntary third-party aggregators, net zero emissions initiatives, and regulations.
Unlocking data for a Nature-Positive future
PwC (August 2022)
An insight introducing TNFD’s Nature-related Data Catalyst Initiative (DCI) which aims to “stimulate innovation and improve market access to nature-related data.”
National readiness for nature-related disclosures in emerging markets
UNDP-BIOFIN (May 2022)
A report assessing the national readiness for integrating nature-related disclosures into their national economic accounts. It covers five countries: Indonesia, India, Mexico, Zambia, and Costa Rica.
Just Nature: How finance can support a just transition at the interface of action on climate and biodiversity
LSE & Grantham Research Institute on Climate Change and the Environment (August 2022)
A policy paper exploring a “just nature transition” and how the financial sector can support positive outcomes for such a just transition – looking at agriculture, food systems, deforestation, nature-based solutions, and restoring ocean ecosystems.
Biodiversity loss and climate change interactions: financial stability implications for central banks and financial supervisors
Climate Policy (August 2022)
This academic paper explores how central banks and financial supervisors are approaching biodiversity-related risks in relation to climate-related risks, and gives key policy recommendations.
Colombian regulator reveals plans for Central American taxonomy
Responsible Investor (August 2022)
An insight into Colombia’s newly-announced sustainable finance taxonomy, which will focus on five key areas – the existing green taxonomy; financial innovation; data, metrics, and information; the integration of ESG issues; and tools for measuring and supervising climate and nature risks.
MSCI: 39% of ACWI exposed to biodiversity risk
Environmental Finance (July 2022)
A news piece about MSCI’s new research, which highlights that two in five (39%) constituents of MSCI’s flagship global equity index have at least one asset located in an area sensitive to biodiversity loss.
ESG Explainer: Call of the Wild
ESG Investor (July 2022)
An insight explaining the new IPBES report on humanity’s reliance on the natural environment, and explaining the significance of IPBES and its work.
Biodiversity. Beyond risk and return
Triodos Investment Management (August 2022)
A report outlining the biodiversity crisis and the financial sector’s role in it, which also highlights key thinking on how to become more nature positive – including stop direct harm, fostering direct solutions, and addressing the underlying causes of biodiversity loss.
Explainer: COP15, the biggest biodiversity conference in a decade
Eco-Business (August 2022)
An insight explaining everything about the upcoming CBD COP15 conference – what it is, what the history of international diplomacy on nature is, what the plan is, and expected sticking points in the negotiations.
From ozone to oxygen: opportunities and risks in natural capital
UBS (June 2022)
A white paper from UBS’s sustainability experts exploring what needs to happen to preserve and regenerate the earth’s rapidly-depleted stock of natural capital. It includes discussion of policy innovations, the implementation of reporting frameworks, and the role of investors and the private sector.
Are sustainability-linked bonds suitable for nature finance?
Capital Monitor (July 2022)
An insight looking into sustainability-linked bonds, following from the announcement of a new Uruguyan sustainability-linked bond with nature-based targets.
Finance & biodiversité l’écosystème français
Finance for Tomorrow (March 2022)
An overview of French organisations and international funding initiatives working on biodiversity and natural capital.
Robeco, Silverstand Capital, RGE Execs on Biodiversity
Bloomberg (July 2022)
A panel discussion featuring Laura Bosch Ferreté, Sustainable Investing Specialist, Robeco; Kelvin Chiu, Founder & Principal, Silverstrand Capital; and Anderson Tanoto, Managing Director, RGE, discussing best practices for addressing biodiversity loss through investment strategies.
Trustees should treat biodiversity as important as carbon emissions
IPE (July 2022)
An op-ed explaining why trustees and investors need to focus on biodiversity as well as climate-related issues.
Financing Nature Podcast: Emily McKenzie, Technical Director, Taskforce on Nature-related Financial Disclosures
Green Finance Institute (July 2022)
TNFD Technical Director Emily McKenzie joins podcast host Helen Avery to discuss the progress of the TNFD to date.
It’s time for business to step up to protect biodiversity
World Economic Forum (July 2022)
An insight exploring the current biodiversity crises and the challenges fancing the protection of biodiversity – plus what needs to happen next.
Banking on natural capital – unlock the true value of nature
Deloitte (July 2022)
A report considering the implications of valuing nature differently, aiming to explore how “the growing ecological deficit can be addressed by mobilising investment into the conservation, sustainable management and restoration of natural capital assets.”
How nature disclosure is evolving through challenges
S&P Global (July 2022)
A podcast episode discussing the TNFD and its development, featuring TNFD Technical Director, Emily McKenzie.
Piloting the TNFD beta framework in the palm oil sector
Global Canopy (July 2022)
A report which looks at the lessons learned and recommendations from the first pilot of the TNFD beta framework in the palm oil sector.
Spatial intelligence and business: data application for a nature-positive and net-zero future
WBCSD (July 2022)
This report focuses on “how using location-specific information can help inform decision-making, transform & improve business strategies to achieve global nature and climate goals.”
The TNFD’s role in the global shift towards ESG
China Development Brief (July 2022)
This insight outlines the progress of the TNFD to date with an emphasis on China, and locates its work within the wider landscape of ESG and sustainable finance.
Finance must tackle the growing water crisis. Here’s how.
World Economic Forum (July 2022)
An insight outlining the importance of considering water risk in financial decision making and the significant material impact it is already having on the world.
BBVA creates the ‘water footprint’ loan and launches it worldwide together with Iberdrola
BBVA (July 2022)
A press release outlining BBVA’s new sustainable loan, which has been created with Iberdola. The loan focusses on reducing water footprint, which is a key priority in many companies’ sustainability policies, and can be structured as a bilateral or syndicated loan.
IPBES Values Assessment – Decisions Based on Narrow Set of Market Values of Nature Underpin the Global Biodiversity Crisis
IPBES (July 2022)
This report, approved by the 139 member States of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES), shows that there is still a dominant worldwide focus on short-term profits and economic growth which excludes the multiple values of nature. The review is cross-disciplinary and based on a large volume of research, with four general perspectives to aid in policy and decision-making.
We need to bring biodiversity to the Bloomberg terminal
Systemiq Capital (July 2022)
An insight introducing the landscape of needs around biodiversity data and the solutions being developed by a diverse range of stakeholders.
Biodiversity: new approaches to bridge data gaps and address requirements
Moodys ESG (July 2022)
An insight setting out “an overview of biodiversity developments” and then discussing Moody’s approach to disclosure for the EU’s Sustainable Finance Disclosure Regulation Principal Adverse Impact indicator on biodiversity.
FPC pushes for Bank of England to build understanding of nature risks
Responsible Investor (July 2022)
The Bank of England’s Financial Policy Committee has indicated that the Bank needs to increase its understanding of how nature risks might arise and their potential materiality for the UK’s financial system. In addition, the Norwegian Government has started a Nature Risk Committee to investigate the level of dependency society and the economy have on nature.
What Has Biodiversity Loss Got To Do With India’s Sovereign Debt Ratings? A Lot.
BQ Prime (July 2022)
An interview with the lead author of a study from Cambridge University about the impact of biodiversity loss on India’s Sovereign Debt Ratings.
Reading between the lines: G7 leaders make important commitments to nature
IUCN (July 2022)
This blog looks at the contents of the G7 Leaders’ Communique and pulls out the various commitments to nature that it includes.
2022 Climate and Biodiversity Report
AXA (June 2022)
AXA’s 2022 report on Climate and Nature reporting against the TCFD, with additional sections on nature which take into the account the recommendations of the TNFD’s beta framework.
Financing Nature and Biodiversity in ASEAN
Global Ethical Finance Initiative (June 2022)
A video discussion on financing nature and biodiversity in the ASEAN region featuring speakers from the ASEAN Centre for Biodiversity, UNEP FI, WWF and ADM Capital.
Nature and financial institutions in Africa: A first assessment of opportunities and risks
McKinsey Sustainability (June 2022)
An assessment of nature-related risks and opportunities building on the TNFD’s LEAP approach and the stress-testing work of DNB and the Banque de France, focused on several leading commercial financial institutions in Africa.
Nature Loss and Sovereign Credit Ratings
Nature Finance (June 2022)
A report which “models the effect of nature loss on credit ratings, default probabilities, and the cost of borrowing,” showing the potential effect of nature loss to the wider macroeconomic system.
The Green Team speaks to David Craig
Paulson Institute (June 2022)
A podcast episode featuring a conversation between Deborah Lehr (Executive Director of the Paulson Institute) and David Craig (TNFD Co-Chair). They speak about biodiversity loss, the role of data in addressing the biodiversity and climate crises, and the important of the TNFD’s framework.
A typology of risk to increase investment in Indigenous and community-led landscapes
UNEP-FI (June 2022)
This insight announces the launch of a piece of work developing a typology of risks to increase investment in indigenous and community-led landscapes. It highlights that community-managed landscapes are often the most effective protectors of biodiversity, however there is a lack of language around the risks associated with their activities – leading to a lack of investment. The typology seeks to rectify this and calls for responses to their survey by 6 September 2022.
Sustainable by Nature Sequel: Our Portfolio Biodiversity Footprint
BNP Paribas (June 2022)
This report goes through the process BNP Paribas Asset Management and their team took to do a biodiversity footprint of their portfolio. The stated objective of the paper is, “to test biodiversity footprinting on the corporate holdings in our global portfolios in order to understand what it looks like, what it can be used for, and to identify the principal improvements that need to be made to the tool.”
How we will Measure and Manage Nature in Financial Services
Finextra TV (June 2022)
A video featuring David Craig introducing the TNFD’s approach to data.
Putting nature on the balance sheet benefits businesses and biodiversity
Thomson Reuters (June 2022)
An Op-Ed outlining the impact of the US Government’s recently-announced Natural Capital Accounts, which will provide standardized and regularly updated information and statistics on the stocks of natural capital for the use of public and private sector decision-makers.
Risk & Regulation Unravelled: Biodiversity – the opportunity in financial services
Grant Thornton (June 2022)
A podcast episode discussing the challenges and opportunities that biodiversity brings to the table in the financial services industry.
Perspectives on Biodiversity and Natural Capital
BNP Paribas (June 2022)
An in-depth newsletter which covers all aspects of biodiversity and natural capital as it relates to the global financial system, including but not limited to a section on TNFD, biodiversity hotspots, systemic risk, the EU Taxonomy, sector-specific issues, and how to harness nature-positive activities.
The Nexus of Biodiversity Conservation and Sustainable Socioeconomic Development in Southeast Asia
Academy of Sciences Malaysia (June 2022)
This report from the Academy of Sciences Malaysia outlines on the economic value of South East Asia’s biodiversity – which is at least US$2.19 trillion per year – and highlights that the figure can rise if nations work put effective conservation measures in place.
Land cover data just got real-time
Google (June 2022)
An insight introducing Google’s new platform Dynamic World (in collaboration with the World Resources Institute), which provides global, near real-time land cover data at a ten-meter resolution. This gives an enormous amount of detail of land use and land uses changes, which will be a key asset in monitoring and evaluating land and ecosystems.
Spatial Data – getting down to (Google) Earth
David Craig (June 2022)
An insight from TNFD Co-Chair David Craig and TNFD Member Dan O’Brien on the challenges presented by spatial data and the innovations being developed to solve them. It also introduces the TNFD Data Catalyst.
An Overview of Nature-Related Risks and Potential Policy Actions for Ministries of Finance: Bending The Curve of Nature Loss
The Coalition of Finance Ministers for Climate Action (June 2022)
This report covers the key findings and policy recommendations on nature-related risk for Ministries of Finance. The findings include:
- The materialization of nature-related risks for the economy and financial sector can have detrimental implications for governments, and MoFs in particular.
- Nature-related risks are not inevitable, but can be reduced by altering the economy and the financial sector’s impact on nature, where MoFs have a pivotal role.
- Climate change and nature loss are deeply interconnected and mutually reinforcing.
- A government-led nature- or climate-only approach is likely to be fiscally inefficient, socially, and environmentally ineffective, and not sufficient to reach national or global climate and nature-related targets.
The report includes recommendations for a range of policy actions MoFs can take to start to bend the curve of nature loss in the following areas:
- Reforming economic policy
- Integrating nature-smart planning and nature-based solutions into sectors
- Developing and implementing valuation, metrics, and decision support tools
- Mobilizing private finance for nature (both through greening finance and financing green).
We are seeing the beginning of a shift in policy to provide explicit financial incentives for nature inclusion and restoration
Environmental Finance (June 2022)
An op-ed that gives a good high-level overview of the nature crisis and all the private-sector initiatives and government / intergovernmental legislation aiming to halt it.
Harmful Marine Extractives: Deep-sea mining
UNEP-FI (June 2022)
A briefing paper on the devastating effects of deep-sea mining for the finance community. UNEP-FI states that “in their current form, there is no foreseeable way in which the financing of deep-sea mining activities can be viewed as consistent with the Sustainable Blue Economy Finance Principles”. The paper addresses the reputational, regulatory, and operational risks associated with deep-sea mining and how the financial sector should respond.
The Case for Biodiversity
Bloomberg (May 2022)
A panel featuring Dr Danielle Wood of the MIT Media Lab and Dr Josh Tewkesbury of the Smithsonian Institute on the basics of biodiversity, biodiversity loss, the value of measuring biodiversity, and how the private sector can tackle it.
Belize Debt Conversion Case Study
The Nature Conservancy (May 2022)
In November 2021 the world’s largest debt refinancing for ocean conservation was completed by the Government of Belize. It reduced Belize’s debt by 12 percent of GDP, created long-lasting sustainable financing for conversation, and committed to protecting 30% of Belize’s ocean. This case study outlines the process.
Lessons for private sector funding of conservation in a changing world
Green Biz (May 2022)
A series of lessons on the most effective ways for corporates to fund nature conservation projects – from place-based solutions to community engagement – in order to tackle the nature-funding gap which sees more money being put into subsidies which are harmful to nature than funding nature conservation.
Davos 2022: A key milestone in a pivotal year for nature action
World Economic Forum (May 2022)
Six public and private-sector leaders on why nature and biodiversity is important and what to do to tackle the ongoing crisis.
NGFS publishes its 2022-2024 work program
NGFS (May 2022)
The announcement of the 2022-2024 workplan of the Network for Greening the Financial System (NGFS) which includes four new working groups and two new taskforces. The network also welcomes a number of new participants from across the world.
Nature-related risk reporting for investors: a case study of the aquaculture sector
WWF, Storebrand Asset Management, Grieg Seafood, Norwegian Institute of Nature Research (May 2022)
The joint authors of this report looked at how currently-available information on salmon aquaculture can be used to inform seafood-sector investors about their key nature-related risks – for example, impact on biodiversity or water quality. The analysis also highlighted key areas in which the space needs to improve – for example, the need for comparable qualitative metrics, definitions, and a framework for an objective reporting on dependencies. The authors also pointed out that the methodology used could be scaled up to look at global aquaculture across all species.
A Route-Map Outlining How European and Global Sustainability Standards for Corporate Reporting Can and Will Converge
Reuters Foundation (May 2022)
A briefing which explores the intersections between the existing European ESG standards and the emerging global ESG standards and initiatives.
High-level Business Action on Nature
Business for Nature (May 2022)
This insight from Business for Nature outlines a series of key actions businesses can take to work on their impacts on nature and signal that commitment to the wider world. They have been developed in line with leading organisations such as SBTN, the Natural Capital Protocol, and TNFD’s beta framework, and fall under the four headings of assess, commit, transform, and disclose.
TNFD Forum Webinar: How can spatial data innovations support disclosure of nature-related risks?
TNFD (May 2022)
Watch TNFD’s May Forum webinar on spatial data innovations within spatial finance, which highlights some of the cutting edge work underway to produce useable and useful data platforms for monitoring natural capital and nature-related risk. The speakers were Dr Mary Ruckelshaus (Stanford Natural Capital Project), Martin Moen (HUB Ocean), Christophe Christiaen (Spatial Finance Initiative), and Dr Florian Gallo (LSEG). The webinar was moderated by TNFD Co-Chair, David Craig.
What happened at the biodiversity COP, and why it matters to business
GreenBiz (May 2022)
An update on the meetings of the Convention on Biological Diversity (CBD) at Geneva this spring, and presence of many large businesses at the talks. It also analyses how the CBD talks went, and outlines what actions businesses can take in the meantime.
Why we need a joined-up approach to tackling biodiversity loss, desertification and climate change
Reuters (May 2022)
This piece highlights the importance of including a focus on land degradation within the discussions on climate change and biodiversity loss, as restoring this is a vital step towards a more nature and climate positive future. It also shows that the movement of money from harmful subsidies to restoring degraded land could be a big driver of change.
Five ways to foster insurance solutions for biodiversity
Green Finance Platform (May 2022)
A series of recommendations for how the insurance industry can help to protect biodiversity, building on the insurance industry’s expertise in dealing with climate-related events.
Location Matters: Using Geospatial Analysis to Assess Biodiversity Risk
MSCI (May 2022)
This insight uses geospatial analysis and data about asset location to assess which organisations in the MSCI ACWI Index had physical assets in biodiversity-sensitive areas, as well as the biodiversity risk management procedures of the organisations.
Not Sure Where Climate Risk Ends and Biodiversity Begins? Exactly.
MSCI (May 2022)
A podcast featuring TNFD’s Technical Director, Emily McKenzie, which gives an overview of the TNFD framework, along with perspectives from Matthieu Maurin, CEO and Co-Founder of Iceberg Data Lab, and Philippe Zaouati, CEO of Mirova.
Valuing Nature Conservation: A methodology to evaluate where safeguarding natural capital could have the biggest impact on climate, economies and health
McKinsey Sustainability (September 2022)
This report used geospatial analysis techniques to identify the areas where nature has a particularly high value, and looks at what the benefits and costs that might result from the conservation of these areas. It then highlights the benefits, which are cultural, economic, climatic, and would improve human health. Finally, it considers what taking action looks like, and proposes questions to the different groups of stakeholders involved in this arena.
Mitigating biodiversity loss demands corporate accountability
GRI (May 2022)
An introduction to, and the reason for, the review and update of GRI 304: Biodiversity 2016, the Global Reporting Initiative’s standard on biodiversity to reflect global best practise for biodiversity reporting. The article also highlights the importance of joined-up reporting, and how GRI is working with other organisations in this space to ensure that their work is all aligned.
Financing a Shared Future for All Life on Earth | Global Biodiversity Framework
Global Ethical Finance Institute (May 2022)
TNFD Co-Chair Elizabeth Mrema gives an overview of the Global Biodiversity Framework currently being negotiated by the Convention on Biological Diversity (CBD), and outlines the important role finance and financial regulators will play. She highlights the close interlinkages between the Global Biodiversity Framework and the TNFD, and how they will support each other.
Are you ready for nature-related disclosures?
UNEP FI (April 2022)
This report has come out of a corporate sector market readiness assessment on their path to deliver nature-related risk management. It aims to create a clear understanding of what level of understanding and implementations corporates are as regards nature-related risks and their expectations towards the TNFD. It was based on interviews with 19 companies who are both inside and outside the TNFD Alliance.
Nature Map Explorer
Nature Map Earth (2021)
This tool is an integrated global map of biodiversity, carbon storage, and other nature services. It aggregates many layers of spatial nature data, including several new ones – eg. plant taxa, hydrological services. It is also working to crowd-source new data sets, on, for example, forest management. At present, the coalition behind this tool are focused on supporting interested countries in strengthening their national mapping and land-use planning frameworks for biodiversity and carbon.
Ocean Data Platform
Ocean Hub (2022)
With a full release scheduled for summer 2022, the Ocean Hub have put together some information on their upcoming Ocean Data Platform. This will be a key source of open-source data for the ocean, aggregating existing datasets and adding new ones.
Statement on Climate, Environment, Peace and Security
G7 Foreign Ministers (May 2022)
This is a press release from the G7 Foreign Ministers which recognises the impacts of the climate and biodiversity crises and understands that these issues are borderless and impact on peace and security.
Nature-related financial disclosures will guide global ESG development and transformation
China Development Brief (May 2022)
This insight targeted at a Chinese audience gives an overview of TNFD’s progress to date and the wider context in which it sits, highlighting the importance of nature-related financial disclosure to taking action on the destruction of nature. It also covers the opportunities TNFD provides to China, including as a reference for domestic environmental information disclosure and even to expand the scope of those domestic disclosures beyond their current limits.
TNFD Forum Webinar: Nature-related risk in practise
TNFD (April 2022)
Watch TNFD’s April Forum webinar on nature-related risk in practise, which puts into conversation F4B’s Integrated Transition Framework on the climate-nature nexus, and a series of use-cases produced by CISL in collaboration with financial market organisations. The speakers were Dr Simon Zadek (F4B), Dr Nina Seega (CISL), Matteo Oriani (HSBC), and Stephen Verheul (Robeco). The webinar was moderated by Snorre Gjerde, the Taskforce Member from NBIM.
The Blended Finance Playbook for Nature-Based Solutions
Earth Security (April 2022)
This briefing provides a guide for governments and philanthropies with a strategic view on how to use blended finance to catalyse private-sector capital for nature-based solutions.
Insuring Nature’s Survival: The Role of Insurance in Meeting the Financial Need to Preserve Biodiversity
Green Finance Platform (April 2022)
This report looks at what the insurance sector can do to support the financial need to protect biodiversity, highlighting key opportunities and challenges for insurance-based solutions to the nature crisis.
Draft European Sustainability Reporting Standards
EFRAG (April 2022)
The European Commission has instigated the drafting of a set of EU Sustainability Reporting Standards (ESRS) as part of the Corporate Sustainability Reporting Directive. The drafts have now been released for public consultation, with feedback due by the 8 August 2022. The standards cover all aspects of sustainability and include work on biodiversity and ecosystems, water and marine resources, and, more generally materiality assessment disclosure requirements.
Businesses are contributing to the Paris Agreement for nature. Here’s how
WEF (May 2022)
This article reports on how businesses are turning out in support of the post-2020 Global Biodiversity Framework during the latest round of negotiations in Geneva. It highlights how businesses have been calling for elements of the framework to be strengthened including: governments to mandate nature reporting and disclosure, a stronger target on environmentally harmful subsidies, and support for a mission to “halt and reverse biodiversity loss by 2030.”
High and Dry: How water issues are stranding assets
CDP and Planet Tracker (May 2022)
This report covers the significance of the water crisis to the financial sector and how water risk is becoming a potential threat to financial stability. It examines the drivers of water risks – physical, regulatory, reputational, technological – and assesses the level of awareness and preparedness that exists across companies in four major sectors: coal, electric utilities, metals and mining, oil and gas, with a case study for each. The wider data is drawn from CDP’s database of corporate disclosures on water. Using all of this evidence, the research evaluates how the issue of water scarcity and water stress can affect the financial performance of companies in these chosen sectors, in addition to the financial institutions backing them. The report finally proposes a list of actions and mitigations that can be put in place to relieve some of this risk.
The Global Assessment of Private Sector Impacts on Water
Ceres (April 2022)
A report which digs into how industry practises are threatening global freshwater systems in five main ways – groundwater depletion, metal contamination, plastic pollution, water diversion and transfer, and eutrophication. As well as the impacts industry is having on nature, the report lays out what the long-term exposure is for different industry sectors in the face of increasing water risks. It focuses on both the local and specific, as well as the global and systemic – as well as what institutional investors can do in engaging with companies in these sectors to deal with this problem.
How can organizations grow with nature?
KPMG International (April 2022)
10 things boards and executives should know about nature-related risks and opportunities.
The pressure on our natural environment has increased substantially overtime. Halting and preserving nature and its capacity to contribute to sustainable economic growth is a significant challenge, bringing with it significant risks to corporate and financial stability, but also opportunities. All businesses depend on nature and its services either directly or through their supply chains, and those businesses that are highly reliant on nature are considered ‘most at risk’ from the consequences of nature degradation and biodiversity loss.
Survey shows biodiversity rises in importance for investors
Robeco (April 2022)
More than half of investors plan to make biodiversity a significant part of their investment policy, Robeco’s Global Climate Survey has revealed.
- 56% of investors will make biodiversity a core strategy in the next two years.
- 79% complain of low awareness of the financial implications of biodiversity loss.
- Large interest in investments that can help as their impact can be assessed.
The Climate-Nature Nexus: An investor guide to expanding from climate- to nature-data
UNEP-WCMC and F4B (April 2022)
There is an urgent need for the finance sector to account for nature-related risks in decisions, building on progress in assessing and managing climate-related risks. This can help ensure portfolios are resilient to changes in the state of nature, thereby potentially reducing their volatility. “Nature-related risks” are the risks to an organisation from links between its activities and nature. This includes shorter-term financial risks as well as longer-term risks stemming from an organisation’s impacts and dependencies on nature. While challenges remain in accessing ideal data, there are already relevant resources for financial institutions to use, including data currently used for assessments of climate risk. This investor guide presents steps that financial institutions can follow to use existing tools and datasets to screen investments for exposure to nature-related risks.
Nature is Next – Integrating nature-related risks into the Dutch Financial Sector
WWF-NL and Deloitte Netherlands (April 2022)
WWF-NL and Deloitte Netherlands researched how the Dutch financial sector is integrating nature-related risks. Based on a survey, several interviews and a roundtable discussion with Dutch banks and asset managers, the progress in the Dutch financial sector was assessed and several use cases were identified.
The findings show that the Dutch financial sector is acknowledging and recognising the importance of its interaction with nature. Multiple initiatives, commitments and publications are already available in the Dutch context, suggesting that Dutch financial institutions could lead in acting upon the interaction of the financial sector with nature. Several key nature-related risks, relevant portfolios and sectors have been identified and first actions taken; examples include creating heatmaps to measure exposure to nature-related risks, integrating nature into organisational governance, making nature part of the strategy and defining qualitative targets. However, a full overview of material risks and adequate responses at the organisational or industry level is still lacking. Additional action is needed to be able to comprehensively assess, monitor and disclose these risks.
Integrating Nature: The case for action on nature-related financial risks
University of Cambridge Institute for Sustainability Leadership (April 2022)
Since 2019, CISL has been collaborating with financial institutions on a programme to support the integration of nature into financial systems, creating resources for practitioners and senior management.
CISL’s latest publication, Integrating Nature: The case for action on nature-related financial risks, CISL, 2022, brings together the outcomes of that programme, providing senior management with the business case for integrating nature-related risks into financial decisions by detailing:
- Why action is need
- How action can be taken
- Use cases assessing nature-related financial risks
- What is now needed to accelerate the integration of nature into finance
Nature’s Assets: Why Biodiversity is Good for Business
Sustainalytics (March 2022)
With biodiversity loss identified as one of the top three risks to business, it is quickly becoming a key topic in boardrooms around the globe. Human pressure on natural environments and ecosystems has accelerated species loss to a rate at least 100 times higher than the natural extinction rate. This unprecedented decrease in biodiversity due to human activity has both direct and indirect social and economic impacts, as over half of the world’s GDP – approximately $44 trillion – is at moderate or severe risk. Unless further biodiversity loss is prevented and biodiversity-related impacts are better managed, many business activities will soon be unsustainable.
This ebook outlines the steps companies can take to measure and manage biodiversity-related issues. Readers will discover:
- How current business activity is accelerating biodiversity loss
- The material impacts biodiversity loss has on businesses across sectors
- How companies can protect against natural capital losses and address potential biodiversity-related risks.
An Exploration of Nature-Related Financial Risks in Malaysia
World Bank Group and Bank Negara Malaysia (March 2022)
Malaysia is one of the world’s megadiverse countries, and many of its economic activities are directly or indirectly dependent on nature and its associated ecosystem services. The COVID-19 pandemic, with its far-reaching economic impacts, is a reminder of the link between human health and planetary health, given that most human infectious diseases are transmitted between species (Taylor et al. 2001). Ecosystem services are broadly defined as the benefits that people obtain from ecosystems and include regulating services (such as regulation of droughts, floods, and land degradation), provisioning services (such as crops, fresh water, aquaculture, and timber), supporting services (such as photosynthesis, nutrient cycle, and water cycle), and cultural services (such as recreational and other non-material benefits). A recent World Bank (WB) study found that, in a worst-case scenario of partial ecosystem collapse, Malaysia could experience a 6 percent gross domestic product (GDP) annual loss by 2030 compared to a baseline scenario (Johnson et al. 2021). In Malaysia, the losses would be driven by a decline in export demand and adverse impacts of the partial collapse of forestry and fishery ecosystem services.
Investing in Africa’s forests
The Banker (March 2022)
Africa’s forests have played second fiddle compared to other rainforest regions when it comes to global conservation efforts and investment, but this is beginning to change.
Central banking and supervision in the biosphere: An agenda for action on biodiversity loss, financial risk and system stability
NGFS-INSPIRE Study Group on Biodiversity and Financial Stability (March 2022)
This is the final report from the Joint NGFS-INSPIRE Study Group on Biodiversity and Financial Stability, which was established to help central banks and financial supervisors fulfil their mandates of price and financial stability in the face of financial risks stemming from biodiversity loss, or ‘biodiversity-related risk’. The report is designed to help central banks and financial supervisors understand the issues in the context of existing science, theory, policy and practice, and to recommend steps that could begin to address biodiversity-related risks in financial systems.
The Future of Nature Markets
Taskforce on Nature Markets (March 2022)
This paper sets out challenges and opportunities associated with the surge in monetarisation of nature across the global economy. It has been prepared as the anchor ‘white paper’ to set the scene and inform the work of the Taskforce on Nature Markets.
Taskforce Member Q&A: Rahul Ghosh, Managing Director, ESG Outreach & Research, Moody’s
Rhino Bond Sold by World Bank in First Issuance of Its Kind
Bloomberg (March 2022)
The World Bank said it has priced the world’s first wildlife bond, raising $150 million that will be partly used for the conservation of black rhinos in South Africa.
Now For Nature: The Decade of Delivery
CDP (March 2022)
European companies have an enormous environmental footprint extending far beyond Europe’s borders. Emissions created by companies’ value chains are about six times more than their “direct” operational emissions, and their supply chains reach deep into countries with high rates of deforestation and water stress.
How are European companies and financial institutions managing these impacts, and driving progress towards a net-zero, nature-positive economy?
This report finds that while European companies are driving global progress on science-based targets (SBTs), they are often failing to act on their wider environmental impacts.
ISSB delivers proposals that create comprehensive global baseline of sustainability disclosures
ISSB (March 2022)
This insight covers the release of the International Sustainability Standards Board (ISSB)’s first two proposed standards for market consultation. One covers general sustainability-related disclosure requirements, and the other looks at climate-related disclosure requirements. While neither proposed ISSB standard covers nature-related disclosures explicitly, the proposed general sustainability-related disclosure requirements demand that organisations ‘disclose material information about all of the significant sustainability-related risks and opportunities to which it is exposed.’
Managing Nature-related Risks and Opportunities: TNFD & City of London event
TNFD and the City of London hosted an event on 22 March 2022 to present and discuss the TNFD beta version of the framework as well wider topics on nature-related risks and opportunities to key players in the nature and finance space, to include UK-based finance, corporate and government representatives to encourage early adoption and encourage institutions to test and develop the framework.
Learn more about the framework: https://framework.tnfd.global/
Opening remarks were held by The Rt. Hon. The Lord Mayor of the City of London, Alderman Vincent Keaveny, Lord Mayor, TNFD’s Co-Chair, David Craig and Economic Secretary John Glen MP, UK government.
TNFD’s Technical Director, Emily McKenzie presented on the beta version of the framework, followed by a panel of industry practitioners who discussed the importance of managing and disclosing on nature-related risk and how it could look like in practice.
Speaker panel, moderated by Axel Threllfall, Editor at Large, Reuters:
- Emily McKenzie, Technical Director, TNFD
- Abyd Karmali, Managing Director, Climate Finance, Bank of America and TNFD Taskforce Member
- Cassandra Greeff, Chief of Staff to the CFO, GSK and TNFD Taskforce Member
TNFD Forum webinar: Introducing the TNFD framework, beta release v0.1
This webinar for TNFD Forum members introduced the first beta version of the TNFD framework, which is a prototype and the start of feedback and testing. The webinar gives an overview of the release package, some details on the structure and contents of the framework, and has two Q&A sections with some Forum members.
Speakers included TNFD Co-Chairs Elizabeth Mrema and David Craig; TNFD Taskforce Members Judson Berkey (Managing Director & Group Head, Engagement & Regulatory Strategy, UBS), Jessica McDougall (Director, BlackRock Investment Stewardship), Bas Ruter (Executive Director, Sustainability & Climate, Rabobank), and Emily McKenzie (TNFD Technical Director). The webinar was moderated by Tony Goldner, TNFD Executive Director.
Diving Deep: Finance, Ocean Pollution & Coastal Resilience
UNEP-FI (March 2022)
The Diving Deep Guidance helps you break the pollution cycle, including plastics and other solid waste, and manage the impacts of coastal infrastructure projects such as seawalls, while exploring the potential of nature-based solutions including mangroves and reefs. The guidance features inspirational images by world-renowned wildlife photographer and conservationist, Cristina Mittermeier, bringing to life the beauty and fragility of the marine ecosystem.
A quarter of Africa’s GDP is dependent on nature; it must be managed responsibly
Mail & Guardian (March 2022)
‘We depend on nature for food and water, for our health, and also for our economic wellbeing. Every business at some level depends on resources drawn from nature, such as crops, fish, timber, fibre, or rare earth elements, or on the stability of ecosystems.
Often we only see this when those ecosystems are upset such as when over-extraction from natural water sources causes drought or unsustainable agricultural practices lead to soil degradation and ultimately to food shortages.’
Business readiness to step up action on nature – trends & insights on corporate reporting
WBCSD (March 2022)
WBCSD undertook a baseline analysis with the aim of providing insights into how a subset of 55 members who are already active with respect to nature are currently performing related to the nature-positive “building blocks”. Real examples also serve to guide other businesses as they identify and take the next steps on their nature-positive journey.
Biodiversity meets the bottom line
GreenBiz (February 2022)
Net-zero commitments exploded last year, with the number of companies making them doubling. Race to Zero, part of the U.N. Framework Convention on Climate Change, estimated that net-zero commitments covered about 68 percent of the global economy in 2021, compared to just 16 percent in 2019, a more than fourfold increase.
While there are still concerns over the nature of some net-zero commitments, to effectively address the climate crisis, carbon reduction targets need to go hand in hand with biodiversity goals, which are far less common in the corporate world. While there is no exact number for biodiversity pledges, it’s likely far, far lower.
Nature-related risk in the public–private continuum
LSE (February 2022)
Where does a disaster- or climate-related risk end, and a nature-related risk start? Do they exist in a continuum, or should they be considered as distinct but interrelated? These questions are important for concerted action to combat the risks emanating from the natural world. Manleen Dugal, Martha McPherson, and Ria Sen write that international collaboration on a global reporting framework is underway. Without it, companies can’t justify prioritising nature-related risk, and policymakers will find it difficult to allocate budget to this unproven new area.
Ocean of Solutions: Protecting biodiversity in the blue economy
Eco-Business & Regional Project Energy Security and Climate Change Asia-Pacific of the KAS (February 2022)
Marine biodiversity is in a monumental crisis. Despite more attention to understand the impacts of anthropogenic-driven climate change on land and marine biodiversity in recent years, the effects of climate change and economic activity such as fishing are still poorly understood. Consequently, the steps needed to restore ocean health have not materialised.
This high-level report summarises the leading causes of declines in marine biodiversity in Asia-Pacific and offers six recommendations that could strengthen the protection of marine-life based on interviews conducted with stakeholders in marine conservation.
Biodiversity concerns set to be the next frontier after climate change
IFLR (February 2022)
ESG: With the rise of natural capital initiatives such as the TNFD, systemic risk issues related to ecosystem collapse will soon receive the same amount of attention as climate change.
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC (February 2022)
The Working Group II contribution to the IPCC Sixth Assessment Report assesses the impacts of climate change, looking at ecosystems, biodiversity, and human communities at global and regional levels. It also reviews vulnerabilities and the capacities and limits of the natural world and human societies to adapt to climate change.
Evaluating the Use of Carbon Credits
Ceres (March 2022)
Ceres’ report provides critical guidance to help investors assess the integrity of corporate net-zero commitments and companies’ use of carbon credits to deliver on those commitments. It arms investors with cutting edge research and best-in-class practices that allow them to navigate the risks involved with commitments and make better, more informed investment decisions.
Financial institutions calling on governments to align financial flows with global biodiversity
Finance for Biodiversity (February 2022)
The Finance for Biodiversity Foundation launches a position paper with suggestions for the draft Global Biodiversity Framework (GBF) in preparation of the 15th meeting of the UN Biodiversity Conference of the Parties (COP15). The position paper emphasises that it is insufficient to think about financial flows only as an implementation mechanism and urges Member States to also ensure that the GBF is a policy aim for both for government action and for financial market actors.
Valuing nature: An interview with Elizabeth Maruma Mrema
Aviva Investors (February 2022)
In this interview, AIQ catches up with Tanzanian biodiversity leader and lawyer Elizabeth Maruma Mrema about the threat of biodiversity loss, the recent Kunming Declaration and missed Aichi Biodiversity Targets, as well as the role of finance in protecting nature.
Why Biodiversity Is Moving to Top of Mind for Investors
Lazard Asset Management (February 2022)
‘Biodiversity, or the variety of life on earth, is declining and is projected to deteriorate faster and further if humans fail to change the status quo. Forestry, agriculture, energy extraction, fisheries, and fashion are just a few of the industries causing damage to ecosystems that we rely on and, in some cases, the damage may be irreparable. A continued loss of biodiversity could lead to environmental destabilization and, ultimately, ecological collapse. Such damage to the ecosystems we depend on to provide pollination, clean water, carbon sequestration, and even protection against infectious disease would almost certainly cause wide-reaching economic consequences for most investors.’
What boards and executives should know about biodiversity
EY Oceania (February 2022)
- Capital could be diverted away from businesses that deplete natural inputs or cause adverse biodiversity impacts.
- Managing biodiversity risk can improve productivity and resilience, and underpin a social license to operate.
- Businesses should act now to understand their biodiversity risks and opportunities, build internal accountability and disclose their actions.
Biodiversity loss – the next big challenge for investors
Asian Investor (January 2022)
Nature loss across Asia will profoundly damage economic activities that rely on natural capital, according to several recent studies. Investors need to act.
Several recent reports from global agencies have confirmed that investors’ focus on minimising the effects of climate change has come at the expense of ignoring perhaps an even greater risk – the loss of biological diversity.
5 biodiversity guidelines to watch in 2022
GreenBiz (January 2022)
Biodiversity bubbled up as an important — if still overlooked — issue for businesses during 2021. And sustainability professionals can anticipate the emergence of important new resources for that agenda to emerge during the months ahead.
Scaling Investments in Nature: The Next Critical Frontier for Private Sector Leadership
World Economic Forum (February 2022)
New World Economic Forum report on scaling investments in nature sets out an action plan for the private sector that includes standardising disclosures, measurement & monitoring.
The report stresses the need to integrate new efforts for nature-related measurement and disclosure with existing climate and ESG frameworks, and highlights role of the TNFD, IFRS Foundation’s International Sustainability Standards Board (ISSB), the Science Based Targets Network and the The Integrity Council for the Voluntary Carbon Market in driving this agenda forward.
Sovereign Climate and Nature Reporting
World Bank (January 2022)
Proposal for a Risks and Opportunities Disclosure Framework
The Paris Agreement states that addressing climate change will require “making finance flows consistent with a pathway towards low greenhouse gas emissions and climate resilient development.” Policy makers, scientists, and investors recognize that the global economy must evolve to a more sustainable model that reduces its impact on the Earth, adapts to the changes already locked in, and contributes to carbon sequestration, as well as restoring and reconnecting degraded and fragmented ecosystems. To be successful, global financial flows must align with these broad objectives. More specifically, trillions of dollars of financing is needed to achieve the climate change mitigation and adaptation goals laid out in Articles 2.1.a and 2.1.b of the Paris Agreement, as well as the emerging targets of the Post-2020 Global Biodiversity Framework (UNEP-CBD). Investors will play an important role in driving this alignment through the tools of capital allocation and engagement. Sustainability reporting can play a central role in driving capital to sustainable investments and away from environmentally harmful ones.’
Geospatial ESG: The emerging application of geospatial data for the gaining ‘environmental’ insights on the asset, corporate and sovereign level
WWF, World Bank Group and Global Canopy (January 2022)
An ongoing challenge with Environmental, Social, and Governance (ESG) efforts is access to robust data. In response, commercial data providers are continually developing solutions to improve insight. Here we discuss one of these potential improvements: the use of geospatial data within ESG focusing on the environmental (E) aspect. Geospatial data can, and is, being used for social (S), and governance (G) purposes, but these are beyond the scope of this paper. This paper explores and tests with real-world examples the potential of geospatial data approaches as means to provide additional insights into the environmental impacts of specific assets, companies, states or nations for sovereign debt investment.
Draft Methodology for the Nature and Biodiversity Benchmark
World Benchmarking Alliance (January 2022)
With biodiversity loss and ecosystem degradation occurring at a rate unparalleled, it has never been more urgent for society and the economy to adopt a nature-positive approach.
In 2021, WBA identified a need to expand WBA’s scope of the circular transformation to cover nature and biodiversity too, as a recognition of the need for greater understanding, transparency and accountability of business impact on our environment. The newly created nature and biodiversity transformation aims to examine how the impacts of companies contribute to stable and resilient ecosystems which enable humanity and nature to co-exist within planetary boundaries on biodiversity, climate, land, oceans and water.
A Framework for Managing Nature-Related Risk
Terra Carta (January 2022)
Elizabeth Mrema and David Craig, Co-Chairs of the Task Force for Nature-related Financial Disclosures (TNFD), talk about how to improve the understanding of Nature-related risk.
The State of Finance for Nature in the G20 report
UN Environment Programme, the World Economic Forum, and the Economics of Land Degradation Initiative (January 2022)
The State of Finance for Nature in the G20 report attempts to capture the complete amount and future need for G20 country spending on nature-based solutions assets and activities. It reveals that current G20 investments in nature-based solutions are insufficient, at USD 120 billion/year, and G20 Official Development Assistance and private sector investments are small when compared with domestic government spending.
China: $1.9 Trillion Boost and 88 million Jobs by 2030 Possible with Nature-Positive Solutions
World Economic Forum (January 2022)
- Two-thirds of China’s total Gross Domestic Product (GDP) is at risk of disruption from nature loss.
- New report focuses on the economic case for safeguarding nature in China.
- Nature-positive practices, those that add value to nature, could contribute $1.9 trillion to the economy a year and 88 million jobs by 2030.
- China is well-placed to lead the transition to a new global green economy with lasting impact.
BiodiverCities by 2030: Transforming cities’ relationship with nature
World Economic Forum (January 2022)
Cities are the engine of the global economy – contributing 80% of the world’s GDP – but their exponential growth in recent decades has come at the expense of nature. The built environment has grown by two-thirds in the first 12 years of the 21st century, leading to the degradation of local ecosystems and the loss of habitats. Urban areas are also responsible for over 75% of global carbon emissions, accelerating climate change which drives further nature loss.
Urban leaders around the world have the power and responsibility to transform cities and lead the way in tackling the interconnected biodiversity and climate crises.
This report provides a vision for cities of the future and the needed systemic shifts to develop BiodiverCities that place nature at the heart of decision-making and infrastructure investments. The report also sets out how public and private urban leaders can utilise nature to both reduce the impact of their cities on biodiversity, increase their climate resilience, and secure significant economic benefits.
Spatial Finance: Challenges and Opportunities in a Changing World
World Bank and WWF (December 2020)
If financial markets are to realign towards truly sustainable development the financial sector needs to differentiate commercial actors more accurately on their climate and environmental performance. A potential breakthrough to help in this challenge is the emerging field of ‘Spatial Finance’, the independent assessment of the location of a company’s or a country’s assets and infrastructure using ground data, remote sensing observations and modelled insights, offers a potentially transformative means to gain improved quantitative ESG insights. Rapid development is required if spatial finance is to deliver in the short term.
In this report, authors outline a possible taxonomy and hierarchy for spatial finance, showing how discrete forms of technology, approaches and data can be considered within a single consistent framework. Using this framework, spatial finance could provide insights at differing scales for different applications from the asset-scale for project finance, to company-scale for investment, to country scale for sovereign debt. Throughout the document authors provide insights into current cutting-edge developments within the field, illustrated with case studies from practitioners and data providers, and explore potential future developments.
Grappling with nature-based risk
David Craig for Aviva Investors (January 2022)
Could nature degradation prove a significant threat to corporate and financial stability? As climate change accelerates, oceans acidify, deforestation and soil erosion continue and species are lost, this important question is weighing on investors and financial regulators around the world.
World Benchmarking Alliance (January 2022)
The World Benchmarking Alliance is measuring and tracking how well companies are performing with regards to their impact on ecosystems – and, additionally, if they are taking positive steps to restore ecosystems. 1000 companies will be measured across 22 industries between 2022 and 2023, and the first benchmark itself will be launched in December 2022.
TNFD Forum webinar: What did central banks learn from testing their portfolios for nature risks?
TNFD (January 2021)
Robeco launches biodiversity paper and teams up with WWF-NL
Robeco (January 2022)
A Robeco positioning paper to address biodiversity loss is being backed by a partnership with the World Wide Fund for Nature Netherlands.
Get Nature Positive (November 2021)
The Nature Handbook for Business showcases how businesses across a range of sectors can approach becoming nature positive.
The Handbook provides sector-specific guidance for finance, agriculture, buildings & infrastructure, environmental services, fashion, food retail, renewable energy, tourism and water. It was developed by the Get Nature Positive campaign, launched by the UK-based Council for Sustainable Business, a group of business leaders appointed by the UK Government’s Department for Environment, Food and Rural Affairs(Defra). Defra has also provided substantial financial support to TNFD.
While the Get Nature Positive campaign is aimed at UK businesses, the Handbook has global relevance. For each sector, the Handbook sets out key challenges, actions businesses can take for #nature and case studies. 125 businesses have joined the campaign, including many TNFD Forum organisations, like Aviva, Barclays, EY, Fidelity International, GSK, HSBC, Lloyds Banking Group and Natura &Co.
Starting the business journey to nature positive
Deloitte (December 2021)
In this blog, TNFD Taskforce Member Guy Williams, Deloitte’s Director of Biodiversity and Natural Capital sets out a short summary of four initial steps businesses can take towards nature positive. The blog also highlights the commercial imperative of protecting and restoring nature, and how the TNFD framework for managing and reporting on nature-related risks will support financial institutions and corporates in delivering on this ambition.
Practitioner’s guide: what does nature-positive mean for business?
WBCSD (December 2021)
The guide sets out “building blocks” to guide business action towards nature-positive and net-zero. Building on existing frameworks, the building blocks help business understand the implications of the goal to achieve a nature-positive world by 2030.
Corporates – Latin America & Caribbean: Deforestation Intensifies Reputational Risk For Companies Operating In Brazil
Moody’s (December 2021)
Environmental damage to Brazil’s biomes will have a substantial impact on Brazilian companies in coming years, rippling across different sectors and the wider economy.
CDSB Framework: Application guidance for biodiversity-related disclosures
Climate Disclosure Standards Board (CDBS) (November 2021)
The CDSB Framework application guidance for biodiversity-related disclosures (the Biodiversity Application Guidance) has been produced by CDSB to assist companies in the disclosure of the material information about the risks and opportunities that biodiversity presents to an organisation’s strategy, financial performance and condition within the mainstream report (biodiversity-related financial disclosure). It is designed to supplement the CDSB Framework for reporting environmental and climate change information to investors (CDSB Framework).
Biodiversity Insight 2021
Environmental Finance (November 2021)
A supplement on biodiversity and business for 2021, covering TNFD, nature at COP26, the Nature Action 100, investing in adaptation and biodiversity, and others.
Nature-based solutions for climate change mitigation
UNEP and IUCN (November 2021)
Analysing scientific literature, the report by UNEP and IUCN finds that nature-based solutions (NbS) can deliver emission reductions and removals of at least 5 gigatons of CO2 per year by 2030, and at least 10 gigatons by 2050 on a conservative basis. The report highlights that this contribution from nature, in addition to the rapid decarbonisation of the global economy, can play a significant role in reaching the Paris Agreement goal of limiting global warming to below 1.5°C. To fulfil this potential, NbS require additional funding and must be implemented according to strict standards.
Biodiversity: Unlocking natural capital value for Australian Investors
Australian Council of Superannuation Investors (ACSI) (November 2021)
A report covering the basics of what Australian investors need to know about the nature crisis and the different financial risks affecting companies across different sectors of the economy.
The state of climate and environmental risk management in the banking sector
European Central Bank (November 2021)
In this paper, the European Central Bank evaluates the self-assessed risk management practises of 112 institutions against its 13 supervisory expectations on climate and environmental risk management.
At COP26, governments and businesses turned a new leaf on protecting nature to halt climate change
S&P Global (November 2021)
An insight exploring and explaining the key nature-related pledges made by both national governments and the private sector to tackle climate change at COP26.
‘Nature loss is as big a business risk as climate change. We must tackle both with equal urgency’
Reuters Sustainable Business (November 2021)
David Craig of the Taskforce on Nature-related Financial Disclosures explains how the TNFD will provide a framework for companies to measure and account for their impacts on biodiversity for the first time.
Taskforce Member Q&A: Herry Cho, Head: Sustainability & Sustainable Finance, Singapore Exchange
Herry Cho, Managing Director, Head: Sustainability & Sustainable Finance at Singapore Exchange, shares why they joined the Taskforce and what they are now working on in their role as Taskforce Member.
Finance Sector Roadmap: Eliminating Commodity-Driven Deforestation
Deforestation Free Finance (November 2021)
The Finance Sector Roadmap is designed to provide a broad range of financial institutions, including asset owners, pension funds, asset managers, insurers and banks with guidance on eliminating deforestation, conversion, and associated human rights abuses from their portfolios, with a target date of 2025.
Towards a TNFD framework: testing nature-related risk reporting in the consumer staples sector
Global Canopy (October 2021)
To support the Taskforce on Nature-related Financial Disclosures (TNFD) with developing a robust framework for nature-related risks, Global Canopy and UNEP FI are testing TNFD core concepts and an exploratory disclosure framework with organisations operating or investing in soy supply chains.
Natural Capital Valuation: An Incentive To Protect Nature?
S&P (November 2021)
TNFD Taskforce member S&P Global finds that natural capital accounting pricing measures could potentially encourage more forest-friendly farming practices and help tackle global deforestation, a major issue in the fight against climate change.
What does nature-positive mean for business?
WBCSD (November 2021)
TNFD Forum member WBCSD provide “building blocks” that break down key concepts of nature-positive action and translate them into clear steps for business.
SIF Scoping Study: Nature-related Risks in the Global Insurance Sector
Sustainable Insurance Forum (SIF) (November 2021)
This study marks a pioneering effort to explore and understand the global insurance sector’s dependence on nature, what nature-related risks could be, and whether and how nature-related risks are financially material to the sector’s underwriting and investing business.
Why is it more crucial than ever for business to identify, assess and disclose nature-related risks?
PwC (November 2021)
TNFD Taskforce member Daniel O’Brien, Head of Sustainable Business Solutions at PwC, highlights three crucial ways in which nature-related risks can become material for businesses.
Cambridge Institute for Sustainability Leadership (November 2021)
A go-to resource page for information and materials on the nature-positive transformation.
First SUSREG assessment highlights need to mobilize central banks and financial supervisors on climate and nature risks
WWF (October 2021)
The report sets out the first results of the WWF Sustainable Financial Regulations and Central Bank Activities (SUSREG) assessment.
G20 Sustainable Finance Roadmap
G20 Sustainable Finance Working Group (October 2021)
The G20, under Italy’s 2021 Presidency, has re-established and elevated the G20 Sustainable Finance Working Group (SFWG) with the goal of scaling up sustainable finance that supports the objectives of the 2030 Agenda and goals of the Paris Agreement. The SFWG has developed this G20 Sustainable Finance Roadmap (“the Roadmap”) in order to help focus the attention of the G20 members, relevant international organizations, networks, initiatives, and other stakeholders to key priorities of the sustainable finance agenda, and set out actions for the G20 to take to promote the achievement of those priorities over the coming years. The Roadmap is a multi-year document that will help inform the broader G20 agenda on climate and sustainability, future workplans of the SFWG, and other relevant international work.
Aligning Development Finance with Nature’s Needs: The role of government shareholders of development banks
Nature Finance (October 2021)
This paper analyses the duties of governments in relation to nature and the supervision of public development banks (PDBs). It also appraises the powers available to government shareholders to direct PDB management: to improve risk management practices related to nature dependency; and, to reduce impact on nature.
Financial sector has ‘great power’ to stop biodiversity loss and reap the rewards of being ‘nature positive’, report reveals
EY, Microsoft and Earth Knowledge (October 2021)
The financial sector risks inflicting significant damage on itself and companies across the world if it fails to use its “great power” to stop actions that harm the planet, a new report by EY, Microsoft and Earth Knowledge has said.
As a core part of global economies, banks, investment firms and insurers have a “great responsibility” to ensure they support activities that are “nature positive” and protect the air, land, water and animals in the Earth’s unique and delicate ecosystems.
Entitled “Waking up to Nature – the biodiversity imperative in financial services”, the report estimates that the world’s largest investment banks provided $2.6 trillion of loans and underwriting services linked to the destruction of nature in 2019 alone, and a failure to act at pace and scale to rectify this will create a “material financial risk for the financial services industry”. This will manifest in “market, credit, reputational, regulatory, supply chain, operational, employee engagement and underwriting risk”, the report states.
The Little Book of Investing in Nature: a summary
Global Canopy (October 2021)
The Little Book of Investing in Nature provides an essential overview of the area of biodiversity finance at a time when governments and international negotiators are urgently seeking pragmatic solutions for the twin crises of climate change and the loss of nature.
This 7-page summary of The Little Book, as requested by several members of the Steering Group, provides a useful introduction to the topics covered. The summary is available here.
There is also a short video, It’s time to invest in nature, which highlights the urgent need to invest in protecting nature, drawing on the findings of The Little Book. The video is available in English on YouTube and versions with English and French subtitles are available.
Navigating Ocean Risk: Shaping the Transition to a Sustainable Blue Economy
If managed sustainably, a healthy ocean can yield great benefits for people and the economy.
This ground breaking research shows that a business-as-usual trajectory entails great risk to our economies, with a cost potentially reaching up to US$8.4 trillion over the next 15 years.
But the ocean also has a great capacity to regenerate. If we take immediate action, we can reduce this damage to US$3.3 trillion.
By repairing damage to the ocean, we revive one of the world’s greatest resources and one of the world’s largest carbon sinks.
Achieving the SDGs with Biodiversity
Swiss Academy of Sciences (2021)
The 2030 Agenda for Sustainable Development with its 17 Sustainable Development Goals (SDGs) charts a new path of balance for humanity and the planet. The highly interconnected SDGs will only be achieved in their entirety through transformative changes in our societies. Recent studies on the interactions between the SDGs identify the conservation of biodiversity as one of the most potent levers to achieve sustainability. The biodiversity-focused SDGs 14 (life below water) and 15 (life on land) emerge as multipliers of co-benefits across the goals. This factsheet aims to explain the importance of biodiversity for implementing all SDGs and to provide decision makers with options and entry points for transformative change.
Biodiversity and the benefits for human health
Swiss Re (October 2021)
Swiss Re Institute demonstrates just how beneficial time spent in nature can be for physical and mental well-being. Increasing access and improving green areas in cities and suburbs can reduce health effects caused by air pollution, excessive noise and extreme heat – and should be a priority for health care and disease prevention, policy making, nature conservation and urban development.
Making Finance Work for Food: Financing the Transition to a Sustainable Food System
Nature Finance (September 2021)
Global finance can and must be reshaped to ensure a rapid, fair and safe transition of the current unsustainable food system, reveals future-looking analysis from Finance for Biodiversity (F4B) today.
The report – Making Finance Work for Food: Financing the Transition to a Sustainable Food System, prepared in collaboration with the Food System Economics Commission (FSEC) ahead of the UN Food Systems Summit on 23 September – explores how food and finance can be better aligned to deliver an inclusive, healthy, and environmentally sustainable food system.
A “Silent Spring” for the Financial System? Exploring Biodiversity-Related Financial Risks in France
Banque de France (August 2021)
A paper exploring the links between biodiversity loss and financial instability in France.
Nature-Related Financial Risks in Brazil
World Bank (August 2021)
A paper exploring to what extent and how Brazilian financial institutions are exposed to nature-related risk and biodiversity loss through their lending to non-financial corporates.
Expanding the E in ESG
fDi Intelligence (August 2021)
David Craig, Co-chair of the TNFD, writes about the difficulty in measuring the E in ESG and how the TNFD aims to include a framework for organisations to report standardised metrics for their nature-related risks.
Q&A: What is “natural capital” and why should investors care?
Schroders (July 2021)
A Q&A style explainer on natural capital, how it differs from other forms of capital, how natural capital is categorised, how it differs from other terms such as biodiversity, how it is valued, and why it is the concern of investors.
Reporting on Nature-related Risks, Impacts and Dependencies
UNDP and UNEP FI (August 2021)
A paper for the G20 Sustainable Finance Working Group on the TNFD and the wider landscape of nature-related risk reporting, including a business case for nature positive market action.
Unlocking Nature-Smart Development : An Approach Paper on Biodiversity and Ecosystem Services
World Bank Group (August 2021)
Unlocking Nature-Smart Development: An Approach Paper on Biodiversity and Ecosystem Services is part of a series of papers by the World Bank Group that outlines the development challenges and opportunities associated with blue and green biodiversity and ecosystem services. The paper makes the case that the rapid global decline in nature is a development issue and proposes six global response areas intended to guide governments and inform broader discussions on how to integrate nature into development agendas. As countries formulate a set of new global biodiversity targets, this paper also offers insights that could inform the design and implementation of the post-2020 global biodiversity framework, as well as the World Bank Group’s ongoing support to this agenda.
Biodiversity and financial stability: building the case for action
NGFS-INSPIRE Study Group (August 2021)
This report is the second output of the Joint NGFS-INSPIRE Study Group on Biodiversity and Financial Stability. The group was established to help central banks and financial supervisors fulfil their mandates in the face of financial risks stemming from biodiversity loss.
These risks are growing, as biodiversity is declining at unprecedented rates in human history, with growing evidence that this could have significant economic and financial implications. The decline of ecosystem services as a result of biodiversity loss poses physical risks for economic and financial actors that depend upon those services.
Nature Action 100: A proposal for targeted investor engagement on biodiversity
World Bank Blogs (June 2021)
Investors have an important role to play in addressing the twin crises of climate change and biodiversity loss, which are inextricably linked. The economic imperative to act is clear: More than 55 percent of global GDP is directly dependent on biodiversity and ecosystem services. Just as with climate change, investors should be highly motivated to mitigate biodiversity loss given the material impact nature-related risks are increasingly recognized as posing to investment portfolios.
Quantitative easing and nature loss: Exploring nature-related financial risks and impacts in the European Central Bank’s corporate bond portfolio
The ongoing degradation of nature, ecosystems and planetary biodiversity poses major economic and financial risks (Dasgupta, 2021; CBD, 2021). Businesses are embedded within the environment via their dependencies and impacts upon the resources provided by nature. Through their lending, advisory and investing activities, financial institutions are exposed to business dependencies and responsible for facilitating negative impacts by those firms. In the financial sphere, several voluntary initiatives aiming to incorporate biodiversity considerations into financial institution decision-making have emerged (Finance for Biodiversity, 2021). Central banks are also beginning to examine how to address the impacts of biodiversity loss on financial stability, building on previous research on climate change (NGFS 2021b).
Nature’s next stewards: Why central bankers need to take action on biodiversity risk
WWF (July 2021)
A new report highlights the urgency for central banks and financial supervisors to act on the risk of unprecedented nature loss.
With biodiversity loss not only compounding climate-related risks but a global crisis in its own right, the report warns that current practices of only integrating climate-related risks and impacts in existing mandates of central banks and financial supervisors, and not including risks from nature loss, fall short in ensuring a sustainable financial system.
The Climate-Nature Nexus: Implications for the Financial Sector
Nature Finance (May 2021)
A new report from the Finance for Biodiversity Initiative (F4B) details why and how climate and nature impacts must be considered together, and not in isolation. The findings laid out in the report, The Climate-Nature Nexus: Implications for the financial sector assert that a future that deals with both the nature and biodiversity crises will be very different to one that deals with climate alone. The risks, solutions, and opportunities for the financial sector all change. But the majority of the financial sector has already started acting on climate, and can leverage this to make quick progress on nature.
The insurance rationale for carbon removal solutions
Swiss Re (July 2021)
To limit global warming to 2015 Paris Accord levels, the world’s net emissions of greenhouse gases need to drop to zero by 2050.
The Role of Natural Climate Solutions in Corporate Climate Commitments: A Brief for Investors
Ceres (May 2021)
The Role of Natural Climate Solutions in Corporate Climate Commitments: A Brief for Investors is a first-of-its-kind engagement tool for investors to spur meaningful dialogue with companies on the role and use of natural climate solutions in delivering on those commitments. It provides clear guidance on how to facilitate engagements with portfolio companies and lays out expectations for climate disclosures—calling for transparency in critical steps along the way to net zero.
The Economic Case for Nature : A Global Earth-Economy Model to Assess Development Policy Pathways
World Bank (June 2021)
The Economic Case for Nature is part of a series of papers by the World Bank that lays out the economic rationale for investing in nature and recognizes how economies rely on nature for services that are largely underpriced. This report presents a first-of-its-kind global integrated ecosystem-economy modelling exercise to assess economic policy responses to the global biodiversity crisis. Modeling the interaction between nature’s services and the global economy to 2030, the report points to a range and combination of policy scenarios available to reduce the impact of nature’s loss on economies. This modeling framework represents an important steppingstone towards ‘nature-smart’ decision-making, as it seeks to support policymakers who face complex tradeoffs involving the management of natural capital, and hence achieving growth that is resilient and inclusive.
Guidance on Biodiversity Target-setting
UNEP FI and UNEP-WCMC (June 2021)
The Guidance on Biodiversity Target-setting is designed for Principles for Responsible Banking (PRB) signatories, allowing banks to take a systematic approach to setting and achieving biodiversity targets. The guidance presents four real-life case studies, and includes a detailed how-to guide and has been developed by UNEP FI and UNEP-WCMC based on discussions and input from the working group of 30 PRB signatories, with review and input by a number of experts.
Public Development Banks and Biodiversity
WWF and The Biodiversity Consultancy (May 2021)
How PDBs can align with the Post-2020 Global Biodiversity Framework
Bringing It Down To Earth: Nature Risk & Agriculture
WWF (June 2021)
A new WWF report, ‘Bringing It Down To Earth: Nature Risk & Agriculture’, highlights how unsustainable production practices present systemic risks across our food and financial systems, and how shifting to more sustainable practices can unlock benefits for people and planet.
Insuring Natural Ecosystems as an Innovative Conservation Funding Mechanism: A Case Study on Coral Reefs
Swiss Re (June 2021)
Coral reefs are exceptional natural ecosystems. Not only do they provide direct and indirect employment for local communities, but they are key structures in local ecosystems, creating beaches and providing an important level of coastal protection against severe hurricanes and storms. The protection of reefs is of crucial importance for many coastal communities. In this article, the coral reef insurance mechanism that financially protects the coastal areas in the State of Quintana Roo, Mexico, is discussed. The authors explore why coral reefs are threatened and which ecosystem services they provide to humans, a crucial step in providing insurance coverage. Further, the authors show how technology has made insuring coral reefs a viable business proposition. Insurance can support conservation funding while it is a form of financial disaster risk management. Finally, the authors illuminate that the conditions bringing public and private sector actors together like in the case of Quintana Roo, Mexico, are not easily replicable; and more research and understanding will be needed to provide extensive coral reef coverage. Insurance manages residual disaster risk, but it is not a replacement for physical disaster risk management measures.
Official launch of the TNFD
For the official virtual launch event of the Taskforce on Nature-related Financial Disclosures (TNFD), 10 June 2021, the new Co-Chairs shared their vision for the Taskforce. An influential panel of market leaders also spoke at the event: AXA’s Ulrike Decoene, BlackRock’s Michelle Edkins, WWF’s Pavan Sukhdev, WBCSD’s Sunny Verghese, International Institute of Green Finance’s Yao Wang, and Grupo Financiero Banorte’s Mariuz Calvet, who was Co-Chair of the Informal Working Group bringing together TNFD. Moderated by Lana Wong.
Launching the Taskforce on Nature-related Financial Disclosures (TNFD)
Major financial institutions and multinational corporates have endorsed the launch of a new market-led Taskforce on Nature-related Financial Disclosures (TNFD), which will support business in assessing emerging nature-related risks and opportunities.
TNFD Co-Chairs, David Craig and Elizabeth Maruma Mrema, outline the plans and goals of the TNFD.
Protected Planet Report 2020
UNEP-WCMC and IUCN (2021)
Tracking progress towards global targets for protected and conserved areas.
Protected Planet Reports are biennial landmark publications that assess the state of protected and conserved areas around the world. The 2020 edition provides the final report on the status of Aichi Biodiversity Target 11, and looks to the future as the world prepares to adopt a new post-2020 global biodiversity framework.
Nature and Net Zero
World Economic Forum, in collaboration with McKinsey & Company (May 2021)
Natural climate solutions (NCS) play a critical role in supporting the future of both climate and nature. Research conducted for this report confirms estimates that NCS can provide one-third (close to 7 Gt CO2) of the climate mitigation to reach a 1.5- or 2-degree pathway by 2030—and at a lower cost than other forms of carbon dioxide removal. Deployed in the right way, NCS can also produce high co-benefits that accrue to nature and to communities. Building off the recommendations from the Taskforce for Scaling Voluntary Carbon Markets, this report sets out five actions to accelerate the scale-up of high-quality NCS implementation and unlock markets through the combined efforts of business leaders, policymakers and civil society.
State of Finance for Nature
UNEP, WEF, ELD, Vivid Economics (May 2021)
The State of Finance of Nature tracks global trends in public and private investment in nature-based solutions, aiming to improve data quality and identify opportunities for governments, businesses and financiers. This year’s report calls for investments in nature-based solutions to triple by 2030 and to increase four-fold by 2050 from the current level. While an increase in public funding would help plug some of the gap, there needs to be a significant increase in private sector investment in Nature-based solutions.
Public concern grows over nature loss
The Economist Intelligence Unit (EIU) and WWF EU (May 2021)
Research considering public attitudes to nature loss and how they have changed over the past five years.
Mapping natural capital depletion: how investors can identify portfolio exposure and take action
PRI and UNEP-WCMC (May 2021)
A series of maps showing hotspots of natural capital depletion which are available to be viewed through the ENCORE tool.
Financing a Nature Positive Economy
Green Renaissance podcast – Platform for Action on the Green Economy (March 2021)
A podcast episode on financing a nature positive economy.
Guide to measuring biodiversity for financial institutions
EU [email protected] and Finance for Biodiversity Pledge (March 2021)
A guide to help financial institutions understand and quantify the impact of their finance and investment activities on nature.
France’s Article 29: biodiversity disclosure requirements sign of what’s to come
Bringing together a TNFD (March 2021)
An article highlighting how France’s Article 29 on financial biodiversity disclosure is a sign of what is to come from regulators in this space.
The tipping point of transparency
Global Canopy (March 2021)
An insight exploring how the increase in ability to link nature impacts such as deforestation to global trade flows is allowing evidence based decision making for less of an impact on nature.
Handbook for Nature-related Financial Risks
Cambridge Institute for Sustainability Leadership (March 2021)
This handbook joins up the financial and natural worlds through a risk perspective explaining key terms and concepts, and contains a framework to allow financial analysts to work out their exposure to nature-related risk.
Assessment of biodiversity measurement approaches for businesses and financial institutions
EU [email protected] Platform (March 2021)
This is the third update of this report and reflects evolutions in the development of biodiversity assessment approaches for businesses and financial institutions.
‘The UK’s Dasgupta Review shows how we can avoid financing our way to extinction’
Reuters Events Sustainable Business (February 2021)
An insight explaining “why solving the data gap is critical to unlocking a flood of money towards a nature-positive economy.”
The Dasgupta Review strengthens the case for finance sector action on nature
Global Canopy (February 2021)
An insight explaining how the Dasgupta Review is an important call for financial institutions to use their leverage to tackle the escalating nature crisis.
Financing a nature positive economy
WWF (February 2021)
A briefing outlining why the nature crisis is so important and what can be done by financial institutions to address it.
The Rising Tide: Mapping Ocean Finance for a New Decade
UNEP FI (February 2021)
This report “maps the current state of ocean finance revealing trends in lending, underwriting and investment activities which impact the ocean.”
The Economics of Biodiversity: The Dasgupta Review
UK Government HM Treasury (February 2021)
Final Report of the Independent Review on the Economics of Biodiversity led by Professor Sir Partha Dasgupta.
The 19%: the pioneering financial institutions leading the way on deforestation
Global Canopy (February 2021)
An insight building on work from the Forest 500 index, which shows an increase in financial institutions that have a policy on deforestation.
Unearthing investor action on biodiversity
Responsible Investor and Credit Suisse (January 2021)
An insight giving an introduction to sustainable finance and sustainable investing.
‘The One Planet Summit for Biodiversity was just a start. We need to plug the finance gap for nature’
Reuters Events Sustainable Business (January 2021)
An op-ed outlining how the increased attention to biodiversity needs to be followed up by finance action on nature.
One Planet Summit: Biodiversity rises up the global agenda
Natural Capital Finance Alliance with UN WCMC (January 2021)
An insight outlining the increasing attention being paid to biodiversity by governments and businesses.
The Little Book of Investing in Nature
Global Canopy (January 2021)
An essential overview of the area of biodiversity finance, and how to overcome the global shortfall in biodiversity financing.
Banking Beyond Deforestation
University of Cambridge Institute for Sustainability Leadership (January 2021)
A report explaining how the banking sector can contribute to halting and reversing deforestation.
The Global Risks Report 2021
World Economic Forum (January 2021)
The annual Global Risks Report analysing the biggest risks to business and the global economy in 2021. It states that some of the probable risks in the next ten years are extreme weather, climate action failure, and social insecurity, all of which are expected to get worse.
Missing metrics: climate vs nature
Global Canopy (December 2020)
An op-ed discussing the missing metrics around impacts on nature.
The state of EU environmental disclosure in 2020
Climate Disclosure Standards Board (December 2020)
“In this report CDSB has taken a deep dive into the environmental disclosures of the largest listed companies in the EU.”
The time has come – Survey of Sustainability Reporting 2020
KPMG (December 2020)
“This is the 11th edition of the KPMG Survey of Sustainability Reporting; the first edition was published in 1993. This year, KPMG professionals reviewed sustainability reporting from 5,200 companies in 52 countries and jurisdictions, making this the most extensive survey in the series to date.”
Public development banks have an opportunity – and a responsibility – to lead on nature
BusinessGreen (November 2020)
An insight covering how public development banks can and should lead on financing the protection of nature.
How the Dutch Central Bank is Leading on Nature-related Risks
Global Canopy (November 2020)
An insight reflecting on the Dutch Central Bank’s leadership in the nature and biodiversity space.
Aligning Development Finance with Nature’s Needs
Nature Finance (November 2020)
This report “uses readily available data to estimate the dependency of development banks’ balance sheets on vulnerable nature (‘dependency risk’), alongside the potential damage to nature from their lending activities (‘nature at risk’).”
The world’s banks must start to value nature and stop paying for its destruction
The Guardian (October 2020)
A news article on the Bankrolling Extinction report which shows the flows of finance to sectors with high impacts on nature, and how the banks have little understanding to or indifference of the implications.
A Guideline on the use of Deforestation Risk Mitigation Solutions for Financial Institutions
Sustainable Finance Platform’s Biodiversity Working Group (October 2020)
This report “aims to provide financial institutions around the globe with actionable steps and specific services to analyze and mitigate their impact on deforestation.”
Conserving our common heritage
WWF and Swiss Re (June 2020)
In this joint report, World Wildlife Fund (WWF) and Swiss Re Institute are collaborating to focus on the concept of spatial finance in understanding threats to World Heritage Sites (WHS). Spatial finance uses geospatial observational data – geographical information systems (GIS) – combined with machine learning to assess the risks and impact of financing and re/insurance decisions. Conclusions can be incorporated into sustainable financing and re/insurance frameworks.
The spatial finance approach can be used to assess both the long-term impacts of economic activity and short-term disaster risk management, such as oil spills.
Global Canopy, Stockholm Environment Institute and Neural Alpha (Live)
A tool which enables financial institutions to improve the sustainability of their portfolios by linking flows of finance to the trade in commodities which drive deforestation.
Investors must act to address biodiversity loss
UN PRI (October 2020)
A blog highlighting the early action investors are taking on biodiversity, and how this action can be scaled up.
Nature and climate: Five ways the data and metrics differ
Global Canopy (October 2020)
An insight exploring the critical differences between data, metrics, methodologies for climate and nature.
Overview of Environmental Risk Analysis by Financial Institutions
Network for Greening the Financial System (September 2020)
This paper “provides a comprehensive review of the tools and methodologies for ERA used by financial institutions (FIs) including banks, asset managers and insurance companies.”
Mobilizing Private Finance for Nature
World Bank Group (September 2020)
This paper argues that governments and regulators – supported by private finance – are the key to mobilizing private finance at scale for the protection of nature and reduction of poverty. It looks at two approaches – financing green, and directing funding towards activities which benefit the environment, and greening financing, directing existing financial flows away from activities which are harming the environment.
Biodiversity and Ecosystem Services: a business case for re/insurance
Swiss Re (September 2020)
“The Swiss Re Institute Biodiversity and Ecosystem Services (BES) Index assesses which economic sectors are most reliant on nature and evaluates the exposure each country has to BES decline.”
Financing Nature: Closing the Global Biodiversity Financing Gap
Paulson Institute, the Nature Conservancy and Cornell Atkinson Centre for Sustainability (September 2020)
A report exploring the global biodiversity financing gap, the economic case for financing biodiversity, and how much is needed versus how much is currently spent on financing biodiversity.
The Case for a Task Force on Nature-related Financial Disclosures
Vivid Economics and Global Canopy (September 2020)
A report stating why tackling nature-related risks is a key priority for the finance sector, and making the case for a Task Force on Nature-related Financial Disclosures.
Living Planet report 2020
WWF (September 2020)
The WWF’s flagship report assessing the trends in global biodiversity and the health of the planet, released every two years.
Our Planet: Too Big To Fail
WWF (September 2020)
A film that explores the risks of inaction, the impact of investing-as-usual, and the role the finance sector can play in powering a sustainable future.
Managing nature-related financial risks
University College London (August 2020)
A precautionary policy approach for central banks and financial supervisors to move beyond climate change and start addressing nature-related financial risks.
Nature Economy Report II: The Future of Nature and Business
World Economic Forum (July 2020)
“The second of three reports in the World Economic Forum’s New Nature Economy series, provides the practical insights needed to take leadership in shifting towards a much needed nature-positive economy.”
Beyond ‘Business as Usual’: Biodiversity Targets and Finance
Natural Capital Finance Alliance and UN Environment World Conservation Monitoring Centre (June 2020)
A report which outlines how financial institutions can better understand the business sectors and financial mechanisms at risk from biodiversity loss, and how financial institutions can lay the groundwork for biodiversity-related target setting.
Indebted to nature: Exploring biodiversity risks for the Dutch financial sector
De Nederlandsche Bank (DNB) and PBL Netherlands Environmental Assessment Agency (June 2020)
A landmark study by the Dutch Central Bank that explores how and to what extent financial institutions are exposed to risks from loss of biodiversity.
Natural Capital Toolkit
An interactive database that helps business find the right tool to measure and value natural capital as they use the Natural Capital Protocol.
Global Futures: A study into the global economic impacts of nature loss
Global Trade Analysis Project, Natural Capital Project, WWF (February 2020)
A study using cutting-edge models to investigate the global economic impacts of natural capital depletion. It looks at this over 140 countries, all industry sectors, and six critical ecosystem services such as water supply, and timber supply.
Nature is too big to fail – Biodiversity: the next frontier in financial risk management
PwC and WWF (January 2020)
This new reports finds “that the financial risks associated with the loss of biodiversity will become increasingly important in 2020 – especially in the lead up to the United Nations Biodiversity Conference in October in Kunming (China).” It highlights the mutual reinforcement of the climate and nature crises and the challenge this poses to decision makers.
Nature Risk Rising: Why the Crisis Engulfing Nature Matters for Business and the Economy
World Economic Forum (January 2020)
A landmark report which “explains how nature-related risks matter to business, why they must be urgently mainstreamed into risk management strategies and why it is vital to prioritize the protection of nature’s assets and services within the broader global economic growth agenda.”
The sovereign transition to sustainability
(Planet Tracker 2020)
A paper introducing the dependence of sovereign debt on nature and how the value of a country’s sovereign bonds relies on its management of its natural capital.
The Nature of Risk: A Framework for Understanding Nature-related Risk to Business
WWF (September 2019)
This report creates a framework for organisations to understand nature-related risk to business. It includes a literature review of existing material, a synthesis framework for how nature-related risk emerges, a typology (from literature) of high-importance risks, and a set of case studies.
Global Assessment Report on Biodiversity and Ecosystem Services
Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) (May 2019)
The periodic report assessing the status of and trends affecting biodiversity and ecosystem services, and the impact of biodiversity and ecosystem services on human wellbeing.
Global Footprint Network (Live)
A calculator and dataset that allows individuals to calculate their ecological footprint and see the biocapacity of their region or country.
Integrating Natural Capital in Risk Assessments: A step-by-step guide for banks
Natural Capital Finance Alliance and PwC (January 2019)
A guide to rapid natural capital risk assessments, with recommendations for how banks can utilise existing methods and resources to cut through the complexity.
Exploring Natural Capital Opportunities, Risks and Exposure: A practical guide for financial institutions
Natural Capital Finance Alliance and UN Environment World Conservation Monitoring Centre (November 2018)
A guide to using the ENCORE tool for financial institutions, which also covers the business case for and current state of natural capital assessments.
ENCORE (Exploring Natural Capital Opportunities, Risks and Exposure)
Natural Capital Finance Alliance (2015)
A tool which allows financial institutions to map their material impacts and dependencies on nature.
Into the Wild: Integrating nature into investment strategies
AXA and WWF France (2019)
A landmark report calling for the disclosure of business and finance impact on nature.