TNFD Taskforce Membership | Terms of Reference
1. Mandate and responsibilities
Members are individuals representing their organization from financial institutions, corporates and market service providers. They commit to assist the TNFD in the design and development of the Framework due for release in September 2023 and subsequent activities to support voluntary market adoption. The Member will be the Principal nominee (Private Sector: C-suite or senior executive) and offer an Alternate or relevant technical person, who will complement the work/deputize for the Principal nominee in exceptional circumstances and to optimize participation in the working groups as necessary. Each organization is expected to provide no more than two representatives (Principal and Alternate).
In addition to their commitment to the plenary and working group activities of the Taskforce itself, all members are expected to serve as ambassadors for the broader TNFD effort in the marketplace; raising awareness about TNFD and encouraging uptake of the Framework when available, within their own organizations as well as their sectors and networks.
The following summarizes some of the expected roles and responsibilities:
- Dedicate significant time (approximately 2 days per month) to the Taskforce and provide significant input to further its objectives.
- Support resource mobilization efforts for the multi-year work programme of the TNFD.
- Review the links to nature-related risks and opportunities within their respective organizations and share this with the working groups, as requested.
- Champion the vision of TNFD by adapting and testing part or all the TNFD framework. Participate in high visibility fora to discuss its progress and encourage uptake.
- Support strategic advocacy and market awareness efforts, for example conference attendance, webinars etc, as a representative of the taskforce
2. Member time commitment and activities
Expected time commitment by Members: TNFD Taskforce Members commit to approximately 2 days per month (depending on the project phase), including:
- Bilateral calls as required; exchange of information by e-mail.
- Regular 1 – 2 hour virtual plenary meetings, every 6 weeks, and less frequent in-person Taskforce meetings.
- Participation in at least one working group, one standing committee and one sectoral group via virtual meetings.
- Review and provide technical input on drafts from the Co-Chairs, Working Groups and Secretariat
- Participate in at least two public advocacy efforts, events, panels and other awareness- raising opportunities annually.
Further time commitment from Members is welcome on a voluntary basis to ensure specific deliverables.
3. Taskforce Membership criteria and selection process
Taskforce membership is open to individuals representing one of three types of market institutions: corporates, financial institutions, and market service providers (rating agencies, data and methodologies providers, stock exchanges and reporting advisors).
The expansion of the Taskforce in September-October 2022 is focused on individuals who have substantial commercial experience from corporates and financial institutions in the following sectors:
- Consumer Goods, including fashion and retail
- Infrastructure or Transport
- Real Estate
- Renewable energy
- Financial services with leading global expertise in sovereign debt markets
Other non-market stakeholders such as public financial institutions, service and data providers, governments, regulators, multilateral organizations, public development banks, financial and business consortia, NGOs, think tanks, research organizations etc. are invited to support the work of the Taskforce as members of the TNFD Forum and through project-based technical research projects managed by the TNFD Secretariat on behalf of the Taskforce and its working groups.
The Taskforce will be comprised of up to 40 individuals representing their institutions. Members are selected in their personal capacity, in accordance with the selection criteria and also taking into account the competencies needed for the development of the TNFD Framework, as well as sectoral, geographical and gender balance considerations.
Key criteria to select individual Taskforce Members among all eligible entities:
Individual expertise & engagement:
- Substantive personal knowledge and experience in strategy, risk management, business operations and/or sustainability.
- Good knowledge of natural capital / biodiversity issues
- Competence, capacity and experience in initiatives like TNFD. Demonstrated active engagement with related initiatives is an asset.
- Knowledge of international risk management and reporting.
Commitment: Availability for active participation:
- Demonstrated interest, technical ability and commitment to actively participate in the work of the Taskforce.
Sectoral leadership & reputation
- Demonstrate organization experience and commercial success in sectors relevant to the work of the TNFD.
- Organization commitment to test and help build the TNFD framework.
- Corporates/Financial Institutions already reporting on TCFD.
- Acceptability to TNFD as a respected and valued representative from the finance, business or service providers industry.
- Organization signs onto support the development of the Framework guided by the TNFD Goal and Principles.
- C-suite support from the Member’s organization.
Balanced membership considerations: In addition to the criteria above, the TNFD seeks to achieve a balanced representation across the Taskforce, taking into consideration:
- Gender balance.
- Geographic diversity: aim for global diversity across regions, where representation of emerging markets with high natural capital dependencies or impact, is an asset.
- Sector diversity: up to 40 Members especially from sectors with a high impact and/or high dependency on nature.
- TCFD Engagement: aim for 20-30% overlap between membership organizations in Taskforces to promote exchange and alignment.
- Entity Size & Influence: mix of large market-players with cutting-edge smaller ones for full spectrum feasibility across stakeholders.
4. Relinquishment of Taskforce Membership
Change of Taskforce representative
If a Taskforce Member needs to relinquish their position due to a change in their role or responsibility with their organization or due to resignation, the sponsoring organization will have the opportunity to replace the representative with an individual of commensurate experience, with the approval of the Co-Chairs in consultation with the TNFD Secretariat.
Organizational decision to relinquish Taskforce seat
An organization represented by a Taskforce Members can relinquish their seat on the Taskforce with a two month notice period by notifying the Co-Chairs formally in writing. The letter should be signed by the Principal nominee and the sponsoring senior of the organization. Departures from the Taskforce will be made public on the TNFD website.
The Co-Chairs reserve the right to require members of the Taskforce to step down on the basis of a sustained lack of personal participation or absence from Taskforce activities; and/or in the event that an individual Taskforce member or their organization demonstrates a lack of respect for the TNFD principles and/or risk bringing the reputation and integrity of the TNFD into disrepute, this ToR or misconducts that cause significant harm to the TNFD initiative.