G&A's Sustainability Highlights ( 03.01.2025 )
NORTHAMPTON, MA / ACCESS Newswire / March 24, 2025 / The Taskforce on Nature-related Financial Disclosures (TNFD) was launched in 2021 to help provide a framework for organizations to report and act on their nature-related risks and opportunities. TNFD was modeled after the Task Force on Climate-related Financial Disclosures (TCFD), which was created in 2015 by the Financial Stability Board (FSB) as a framework for climate risk assessments.
TCFD quickly gained acceptance, with G&A's 2024 Sustainability Reporting in Focus research showing that 60% of Russell 1000 reporting companies aligned with TCFD recommendations in 2023, up from 4% in 2019.
Our Top Stories in this issue show that TNFD is gaining increased traction following the release in September 2023 of the organization's 14 final recommendations for nature-related risk management and disclosure. According to ESG Today, more than 1,700 organizations have joined the TNFD Forum as members and more than 520 companies and financial organizations have committed to begin reporting based on the TNFD recommendations.
The 2024 EY Nature Risk Barometer, surveying more than 350 companies across the U.S., Canada, and Latin America, found that 94% of the companies assessed have disclosed against at least one of TNFD's 14 disclosure pillars. At the same time, though, EY found that overall alignment with TNFD's recommendations is limited.
Annie Roberts, Senior Vice President of Climate Consulting at G&A Institute, said, "The TCFD was enormously successful and laid the foundation for what are now mandatory climate-related risk reporting requirements in many jurisdictions. I expect TNFD adoption to follow a similar trajectory, with voluntary disclosures building the use case for integrating the TNFD pillars into mandatory reporting. We believe early adopters of TNFD will be better prepared to navigate future changes in reporting requirements."
To support organizations in fully implementing TNFD reporting, TNFD recently launched two new open-access learning platforms: Learning Lab for self-guided training and Trainer Portal for professional educators.
Tony Goldner, Executive Director of TNFD, said: "Business and finance leaders increasingly realize that the resilience of their business and investment returns depends, in part, on the resilience of nature. The release of these learning tools is further evidence of TNFD's commitment to equipping market participants with accessible, practical guidance as they look to build the confidence and capacity to take concrete action."
The need for education and training was apparent as TNFD said its guidance documents were downloaded over 300,000 times in the last year. The Learning Lab will provide nine modules covering TNFD recommendations using videos, case studies, and webinars for professionals at all levels. The Trainer Portal was developed in collaboration with the Cambridge Institute for Sustainability Leadership (CISL) and offers customizable white-label materials for training providers.
The new platforms were welcomed by TNFD members and other climate organizations. Simon Thompson, Managing Director of Global Capacity Building Coalition, was quoted in ESG News: "These resources provide a user-friendly range of tools to help organizations address nature risks and adopt nature-positive approaches."
G&A Institute has been closely monitoring the development of the TNFD framework since its launch in 2021. Our team is available to help advise your company incorporate nature-related risk assessments into your overall sustainability disclosure and reporting. For more information contact us at: info@ga-institute.com.
This is just the introduction of G&A's Sustainability Highlights newsletter this week. Click here to view the full issue.
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SOURCE: Governance & Accountability Institute
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