Jan newsletter: TNFD welcomes knowledge partners
TNFD welcomes 13 organisations as knowledge partners
TNFD is pleased to have announced yesterday that it is working with a multi-disciplinary group of leading international organisations. The knowledge partners will contribute expertise across scientific disciplines, market practice and the development of nature-risk scenarios to advise the Taskforce.
The participation and collective experience of this group reflects the commitment of the TNFD to build on existing expertise and initiatives, and to incorporate the best available scientific knowledge and established market practice relating to risk management and disclosure.
This initial group of knowledge partners are:
- Agence Française de Développement (AFD)
- Cambridge Institute for Sustainability Leadership (CISL)
- Global Reporting Initiative (GRI)
- International Union for Conservation of Nature (IUCN)
- Network for Greening the Financial System (NGFS)
- SASB Standards Research Team
- Science Based Targets Network (SBTN)
- The Capitals Coalition
- UNEP World Conservation Monitoring Centre (UNEP-WCMC)
- The World Business Council for Sustainable Development (WBCSD)
The TNFD is also drawing on the scientific work of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES).
The knowledge partners are already supporting TNFD’s five Working Groups under way with their efforts to build an initial beta version of the TNFD framework, which is planned for release in March 2022.
Meet the TNFD Alliance
TNFD Forum spotlight: Nature risk Q&A with H&M Group
How are nature-related risks showing up in your sector?
For our products we face the risk for lower yields, increased market demand and lower quality of raw material. We also see potential risks if we fail to keep biodiversity, nature and climate closely interlinked. We need to make sure that for instance climate change mitigation efforts do not bring negative effects on biodiversity. As a result of increased scrutiny around nature from customers, NGOs and regulators, our sector faces increased reputational risks if we fail to take action.
What is your organisation doing on nature-related risks and opportunities?
We have ambitious goals and roadmaps around moving towards using more sustainably sourced material. We are investing in research on recycled materials, regenerative and organic raw materials, as well as restoration and nature protection efforts. We are also investigating new circular business models where we keep products in the loop as long as possible.
How will the TNFD risk management and disclosure framework help your organisation?
The TNFD framework will enable a standard for reporting which will visualise all areas important to consider and thereby push all players to take full responsibility. This will also provide a foundation for decisions. It will also enable joint efforts on climate and nature.
Read, watch, listen: key new content on nature, finance & business
- Global Risks Report 2022 (World Economic Forum)
The report puts biodiversity loss in the top three most severe global risks, alongside climate action failure and extreme weather.
- Seizing Business Opportunities in China’s Transition Towards a Nature-positive Economy (World Economic Forum)
The report finds that 65 percent of China’s total GDP is at risk of disruption from nature loss, while nature-positive transitions could add US$1.9 trillion in annual business opportunities to the country by 2030. (Also available in Mandarin).
- Nature shock: Grappling with nature-based risk (Aviva)
In this 8-min article, TNFD Co-Chair David Craig sets out why organisations must tackle climate change and nature loss simultaneously and how TNFD aims to support them in doing so.
- Why protecting the planet is essential to preventing future pandemics (CNN Business)
In this OpEd, TNFD Co-Chair Elizabeth Mrema, WWF’s Marco Lambertini and Gim Huay Neo of the World Economic Forum sets out the link between nature loss and pandemics, and how business and governments can address the risks.
For more new content visit the TNFD Knowledge Bank, which features an extensive selection of curated research reports and market insights.
Join TNFD at events
- ‘Evolving the financial system: integrating biodiversity into financial risk and regulation’ (27 January). TNFD Technical Director Emily McKenzie will be speaking at this OMFIF event, alongside Simon Zadek (Finance for Biodiversity Initiative), Géraldine Ang (OECD), John Ploeg (PGIM Fixed Income) & Thomas Vellacott (WWF Switzerland).
- ‘Biodiversity panel: Creating the market for natural capital’ (17 February). During the Economist’s Climate Risk North America 2022 virtual event, TNFD Co-Chair Elizabeth Maruma Mrema will discuss how companies and financial institutions can understand, assess and measure nature-related risks.
- ‘In conversation: Driving progress on nature-related disclosure’ (22 March). TNFD Co-Chair David Craig will speak at the Economist’s Sustainability Week 2022.
For a complete list of upcoming events with TNFD spokespeople, see tnfd.global/events
TNFD in the media – highlights
- ESG Investor (5 January): Environment 2022: The Year of Delivery
- The Age (10 January): Nature risk is the next big theme in responsible investment. But what is it?
- GreenBiz (10 January): 5 biodiversity guidelines to watch in 2022
- AsianInvestor (18 January): Biodiversity loss – the next big challenge for investors