Number of Australian TNFD Adopters rises to 23, including some of Australia’s leading ASX-listed companies 

SYDNEY, AUSTRALIA | 7 October 2024

The Taskforce on Nature-related Financial Disclosures (TNFD) today announced that the total number of Australian companies and financial institutions that have committed to getting started with voluntary reporting of their nature-related issues in line with the TNFD recommendations now stands at 23, including a number of Australia’s leading ASX-listed companies. 

The announcement was made at a reception to mark the start of the Global Nature Positive Summit in Sydney. 

Among the list of Australian adopters are Qantas, Telstra, Brambles, Bank Australia, EnergyAustralia, GPT Group, Lion and Blackmores. These organisations have signalled their intention to begin adopting the TNFD recommendations and publishing TNFD-aligned disclosures as part of their annual corporate reporting based on their FY2024-25 or FY2025-26 outcomes.  

Sally Townsend, Head of Sustainability, Blackmores, said: 

“Adopting TNFD represents more than our intention to include disclosures in reporting. It reflects our deep commitment to embed nature into our business – our decision-making, our governance and our climate pathways. This is critical to our business resilience and, more importantly, to safeguard into the future the natural medicines that our communities rely on for their wellbeing.”  

Fiona Messent, A/g Chief Sustainability Officer, Qantas, commented:  

“Australia is home to some of the world’s most diverse ecosystems, but also on the frontline of significant nature loss. We’re committed to reducing our impact on the planet — in the air and on the ground — so that future generations can continue to experience the wonder of travel. This year we set out our commitment to addressing nature and biodiversity loss by reducing the impact of our operations and supply chain, supporting the broader restoration of nature and advocating for cross-sector transformation. We are developing rigorous nature-related targets and, as an Adopter of TNFD, have the framework to transparently measure and report on our progress.” 

The full list of Australian adopters (in alphabetical order) is: 

These Australian adopters are part of a global group of over 440 companies and financial institutions representing over $6 trillion in market capitalisation among publicly-listed companies and over $16 trillion in assets under management (AUM) among asset owners and asset managers. They are now getting started with nature-related corporate reporting, building on their comparable climate-related reporting and familiarity with TCFD and ISSB climate disclosures. The full global list of TNFD Adopters can be found here.  

The Executive Director of the TNFD, Tony Goldner, said: 

“Australia has consistently been one of the highest markets of interest and engagement in the work of the TNFD since the Taskforce was formed in late 2021. We have benefitted from the input of Australian-based Taskforce Members, leading scientific and conservation organisations, funding support from the Australian Government and the Macdoch Foundation and the participation of 144 Australian organisations through the TNFD Forum.  

I am delighted to see the calibre and diversity of Australian companies and financial institutions now getting started with assessment and reporting of their nature-related issues. But others must follow their lead. As one of the world’s 17 megadiverse countries, Australia’s economy and society is more exposed than most to the acceleration of nature loss. It also has more to gain by leading on these issues and investing in the resilience of nature that underpins the resilience of businesses and capital portfolios across the economy.” 

Australian TNFD Adopters represent a diverse range of sectors, including energy, construction, health and wellness, real estate investment, financial services, food and beverage, technology infrastructure, aviation, forestry, infrastructure, telecommunications, conservation, academia and supply chain logistics. A number of other adopters globally, such as AECOM, Acciona and many of the world’s leading financial institutions, also have a significant operational or investment presence in Australia. 

Bank Australia Managing Director, Damien Walsh, said:  

”Our customers care deeply about nature and our nature and biodiversity strategy sets out how we’ll take action to contribute to a healthy planet for future generations. We’re pleased to share our first disclosure using the TNFD and be named as an Adopter in Australia. We know there is still much to be done to better understand our nature-related impacts and dependencies and we look forward to sharing our progress with our customers and stakeholders.” 

As the convenor for the TNFD Consultation Group for Australia and New Zealand, the Responsible Investment Association Australasia (RIAA) welcomes the growing list of Australian adopters.  

Estelle Parker, Co-CEO of RIAA, shared:  

“The penny has dropped in Australia’s investor community that the destruction of nature poses a significant risk to their investments. TNFD reporting is fast becoming an expectation from large institutional investors who want to manage risk, and also access the opportunities that a move towards ‘nature positive’ globally will bring. It’s not surprising to see some iconic Australian companies adopting TNFD reporting. Those that start early will be at a significant advantage.”  

To help build further momentum for voluntary market adoption, the TNFD is now expanding its global network of capacity building partnerships and activities, including in Australia, to support the implementation, capability building and data needs of market participants. 

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ABOUT THE TASKFORCE ON NATURE-RELATED FINANCIAL DISCLOSURES (TNFD)  

The Taskforce on Nature-related Financial Disclosures (TNFD) is a market-led, science-based and government-backed initiative providing organisations with the tools to act on evolving nature-related issues. It was launched in June 2021 with the support of the G20 Sustainable Finance Working Group and financial support from a number of governments and philanthropic foundations. 

In September 2023, the TNFD published a set of disclosure recommendations and guidance that encourage and enable business and finance to assess, report and act on their nature-related dependencies, impacts, risks and opportunities. 

The TNFD recommendations now operationalise Target 15 of the Global Biodiversity Framework (GBF) agreed to by over 190 governments at the CBD COP15 in Montreal in 2022 and enable businesses and finance to integrate nature into their governance, strategy, risk management and capital allocation decision making. The goal of the Taskforce is to support a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes, aligned with the Global Biodiversity Framework. 

With the recommendations released, the Taskforce is now focusing its efforts on encouraging and supporting voluntary market adoption and supporting efforts to address the implementation, capability building and data needs of market participants. 

The Taskforce is comprised of 40 senior executives drawn from leading financial institutions, corporates and market service providers from around the world and across sectors, with combined assets of over US$20 trillion. Twenty core knowledge partners from leading science, standards, and data institutions feed into the work of the Taskforce. A group of over 1,600 organisations support the work of the Taskforce as institutional members of the TNFD Forum. Over 440 organisations globally have now committed to start reporting on their nature-related issues aligned to the recommendations of the TNFD.  

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