Biodiversity Disclosures Initiatives

European Business & Biodiversity Platform, April 2024

In line with the increasing recognition of the importance of biodiversity for business, the demand for disclosure of corporate biodiversity performance is growing, too. Several biodiversity disclosure frameworks and standards, regulatory and voluntary, have been published or are under development. However, despite substantial alignment efforts between some of these disclosure initiatives, for most companies it is not always evident how these different biodiversity disclosure initiatives relate to each other,
to what extent they are overlapping and where substantial differences can be observed. Developers of disclosure frameworks and standards try to accommodate this concern by providing so-called interoperability mappings or correspondence tables, which provide a high-level comparative analysis covering the whole range of disclosure requirements.
This Thematic Report focuses on biodiversity within the respective disclosure initiatives and highlights the major differences and similarities. The report covers 6 biodiversity disclosure initiatives, three of them are regulatory, and three have a voluntary character:

▪ European Sustainability Reporting Standard (ESRS) E4 on biodiversity and ecosystems, part of the
Corporate Sustainability Reporting Directive (CSRD)
▪ Sustainable Finance Disclosure Regulation (SFDR)
▪ French Energy and Climate Law, in particular Art 29

▪ Disclosure recommendations and additional guidance of the Taskforce on Nature-related Financial
Disclosures (TNFD)
▪ Biodiversity Standard of the Global Reporting Initiative (GRI)
▪ Biodiversity disclosure requirements by CDP (the former Carbon Disclosure Project).

You can download the report here