October 2020 newsletter

In short: Three co-chairs have been nominated to lead the Informal Working Group (IWG). The 62 members of the working group held their second meeting on 8 October. In addition, the IWG and the Technical Expert Group (TEG) completed six discussion sessions on the scope of the TNFD.

Highlights of the month

Three co-chairs nominated to lead the Informal Working Group (IWG)

  • Antoine Sire, Director of Company Engagement and Member of the Group Executive Committee, BNP Paribas
  • Dr Rhian-Mari Thomas OBE, Chief Executive, Green Finance Institute
  • Mariuz Calvet Roquero, Director of Sustainability and Responsible Investment, Banorte

Together, they will lead the monthly meetings of the IWG, which is tasked with setting up and launching a work plan for the TNFD. Until the formation of the Task Force itself in the first half of 2021, the co-chairs will ensure the working group meets milestones and makes timely decisions.

Second meeting of the IWG

On 8 October, the IWG held their second meeting. Having now nominated co-chairs, the working group is focused on approving a small selection of proposed work streams for the next months.

The IWG and the Technical Expert Group (TEG) complete six discussion sessions

Over two weeks, the IWG and the TEG held discussion sessions on the scope of the TNFD across six areas: nature, finance, risks, data, standards and scenarios. Now, the TEG is preparing a synthesis document summarising their discussions.

Designed to support the IWG, the Technical Expert Group (TEG) consists of individuals with a wide range of technical 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.

Co-chairs of the TEG are Nicky Chambers, Programme and Impact Director, Global Canopy and Simon Zadek, Sherpa of UN Secretary General’s Task Force on Digital Financing of the Sustainable Development Goals; Chair of the Migrant Nation Foundation, and Chair of the Finance for Biodiversity initiative.

Observer group members still being selected

The Observer Group allows for a broader selection of organisations to closely follow and comment on the activities of the IWG. Members are still being selected. If you want to find out more, get in touch by emailing [email protected]

Opportunities to join initiatives and events

  • 9-11 November: Green Horizon Summit. Day 2 includes a session on Nature and Net Zero, encompassing panel discussions ‘Is Nature the Next Frontier?’ and ‘Scaling Voluntary Carbon Markets’, as well as a fireside chat, ‘The Economics of Biodiversity’. You can register your interest to attend here.
  • Until 13 November: Have your say about the Post-2020 Global Biodiversity Framework. Business for Nature is hosting a Business consultation on the Convention on Biological Diversity (CBD) Post-2020 Global Biodiversity Framework. Have your say by completing the survey before 13 November.
  • All month: Join Business for Nature’s Call to Action: More than 560 companies with combined revenue of US$ 4 trillion, including several financial institutions, have now signed up to Business for Nature’s Call to Action, urging governments to adopt policies now to reverse nature loss. If you’re a business and want to get involved, you can sign up here.
  • All month: Apply for the newly launched Earthshot prize. The challenge of protecting and restoring nature is one of five ‘Earthshot’ challenges covered by the brand new Earthshot prize, which will award five one million-pound prizes each year to innovative solutions. Solutions can come in the form of new technologies, systems or policies, with the first batch of prizes to be awarded in autumn 2021.

Relevant content released this month

In case you missed it

Swiss Re (23 September) Habitat, water security and air quality. New index reveals which sectors and countries are at risk from biodiversity loss. 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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