The Taskforce on Nature-related Financial Disclosures (TNFD) has today launched six consultation groups and announced new partnerships aimed at developing its nature risk framework.
Today’s announcement at the World Economic Forum in Davos follows the release of the first draft of the TNFD’s framework in March, widening the consultation on it.
See also: – First draft of TNFD framework released
“A strong and inclusive consultation process on nature-related risk management and reporting is fundamental to our success,” co-chairs David Craig and Elizabeth Mrema said.
The TNFD unveiled six initial consultation groups in Australia and New Zealand, India, Japan, the Netherlands, Switzerland and the UK led by private sector organisations and open to all institutional members of the TNFD Forum from that jurisdiction.
The initial six consultation groups are:
- Australia and New Zealand, convened by the Responsible Investment Association Australasia
- India, convened by the Confederation of Indian Industry
- Japan, convened by MS&AD Insurance Group Holdings
- Netherlands, convened by Rabobank and the Dutch Banking Association
- Switzerland, convened by UBS on an interim basis
- United Kingdom, convened by the Green Finance Institute
The taskforce also announced new partnership with FSD Africa through the African Natural Capital Alliance, Global Canopy, UNEP-FI, and the World Business Council for Sustainable Development, which will be testing the beta version of the framework over the coming year.
The window for pilot testing and feedback from market participants and other stakeholders is open until 31 May 2023.
TNFD has also partnered with the International Union for Conservation of Nature to engage with indigenous peoples and local communities, to help ensure the framework incorporates these views, business models and requirements into its design and development.
Look out for a comment piece from the TNFD in ESG Clarity’s May 2022 digital magazine out tomorrow.
