November 2020 newsletter

In short: 11 new organisations have joined the Informal Working Group that will bring together a TNFD, taking the total member count to 73. Four work streams have been established, helping the Working Group streamline their work over the next months.

Highlights of the month

11 new members of the Informal Working Group (IWG)

After careful selection by the TNFD partner organisations and IWG co-chairs, another 11 organisations have now joined the working group. The new members are:

  • Corporates: H&M Group; Iberdrola; JBS; Reckitt Benckiser (UK); Rio Tinto; and Tesco
  • Finance institutions: Brazil’s National Development Bank; the European Investment Bank; Raiffeisen Switzerland; and the Retirement Benefits Authority (Kenya)
  • Government: the Ministry of Agriculture, Nature and Food Quality of the Netherlands

The IWG now totals 73 members. Together, the group is continuing their task of establishing a detailed framework and two-year work plan for the Taskforce on Naturerelated Disclosures itself, which is planned to launch in 2021.

IWG divided into four workstreams

To streamline their work, IWG members are now divided across the following four priority areas of action:

  • Governance
  • Work-plan and Budget
  • TNFD Resourcing
  • Communications and Knowledge Management

These four targeted workstreams sit alongside the Technical Expert Group (TEG), which is designed to support the IWG. In particular, the TEG is developing a draft scope of work for the TNFD under the direction of the IWG. All workstreams have now had initial meetings and started working on their specific deliverables, which are informed by the scope of the TNFD that the TEG is delivering.

The TEG is made up of individuals with a wide range of expertise, including financial risk analysis, particularly with respect to climate and environmental risks; large scale data management, standardisation and verification; biodiversity impacts and dependencies and natural capital frameworks; and international agreements and processes.

45 organisations have joined as IWG Observers

The Observer Group allows for a broader group of organisations to closely follow the activities of the IWG and enable them to comment on the IWG deliberations.

Opportunities to join initiatives and events

  • 8-9 December: European Business & Nature Summit. Day two of the event includes several finance-focused sessions, including a session on ‘Transforming financing: biodiversity, opportunities & risks for the financial sector.’ Registration is free.
  • Save the date: the One Planet Summit – 11 January 2021: Hosted by France’s president Macron, alongside the United Nations and the World Bank, the One Planet Summit will this year have a particular focus on taking action on biodiversity, environmental preservation and climate protection. The agenda is yet to be released, but the initiative to bring together a TNFD will be represented at the event.
  • All month: Engage with the Blended Finance Taskforce case study library: The Blended Finance Taskforce has launched a campaign to collect over 500 case studies of nature-positive business models and financial solutions. Have a look at the first 50 plus examples or contribute your own.

Relevant content released this month

For a longer list of relevant readings released the past years, have a look at the official ‘Bringing together a TNFD’ website: ‘What you can do now.’

TNFD in the news – highlights

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