It’s time to adopt TNFD

Now that the Taskforce on Nature-related Financial Disclosures has been finalised and released, TNFD.global are calling for adopters to disclose their nature impacts and mitigation plans in their 2024 or 2025 corporate reporting.

From the website: “Whether companies or financial institutions, TNFD Adopters should have reporting requirements to outside capital providers and other stakeholders, including organisations with public debt or equity and asset managers and owners.“

With severe business risks arising from increasingly unstable natural systems rising in frequency and impact over the past year, enterprises must place strong emphasis on risk identification and management to avoid significant unexpected costs.

More frequent severe weather events are making elements of supply chains uninsurable, resource scarcity is growing, transport costs are increasing, and extreme heat and cold events are impacting worker productivity. Climate, nature, and social risks are now the greatest threat to business.

If you are still thinking through how to approach integrating nature-related risks into your risk management framework, TNFD provides a robust mechanism to help. It’s important to note that TNFD is not an “all or nothing” approach, you can begin with just a part of your business, where the highest risks reside.

If you need support extending your risk management strategy, with developing climate, nature, and social risk management capacity for your management team, or with taking action to mitigate risks, contact Shared Stewardship today.