Global Reporting Initiative (GRI) and the Taskforce on Nature-related Financial Disclosures (TNFD) have published a joint interoperability mapping resource that gives a detailed overview of alignment between the TNFD Disclosure Recommendations and metrics and the GRI Standards.
Over the past two years, the TNFD and GRI have worked closely together to support the development of each other’s guidance. Notably, GRI input into the TNFD Recommendations published in September 2023, and TNFD input into the recently published GRI Biodiversity Standard.
Responding to feedback from market participants, the TNFD and GRI have developed a guidance document and correspondence table to help GRI’s 14,000 reporters globally align with the TNFD recommendations, and assist TNFD adopters in their sustainability reporting according to GRI Standards.
The mapping underscores the high level of alignment achieved between the TNFD recommendations and metrics and the GRI Standards reporting requirements and datapoints, including the use of consistent nature-related concepts and definitions, the reference and incorporation of GRI’s materiality approach focusing on impacts in the TNFD recommendations and strong consistency between the TNFD core global disclosure metrics and the related metrics in the GRI Standards.
“The ongoing collaboration of GRI with the TNFD has resulted in this detailed mapping tool, supporting thousands of organisations worldwide that already report their biodiversity impacts using the GRI Standards. This resource enables them to seamlessly integrate the TNFD recommendations, allowing for simplified, single-source reporting,” Bastian Buck, chief standards officer at GRI, said.
“GRI and the TNFD will continue to cooperate to prevent the need for double reporting and ensure organisations can transparently and accountably disclose their impacts.”
Esther An, chief sustainability officer of City Developments Limited (CDL), TNFD Taskforce Member and GRI Supervisory Board Member, added: “Nature risks are business risks that should be measured and disclosed in a more robust manner. Having adopted the GRI 304: Biodiversity (2016) since 2017 and as the first Singapore company to publish disclosures aligned with the TNFD Recommendations in 2024, CDL understands the importance of measuring and managing our nature-related dependencies, impacts, risks and opportunities for long-term resilience.
“As we look towards adopting the new GRI 101: Biodiversity 2024 in our upcoming sustainability reports, we welcome the interoperability between TNFD and GRI to harmonise the global sustainability reporting landscape.”
