On 28 March 2023, the Taskforce on Nature-related Financial Disclosures (TNFD) issued its fourth and final draft of the beta framework for nature-related risk management and disclosure.
The TNFD’s goal is to develop and deliver a risk management and disclosure framework for organisations to report and act on evolving nature-related risks and opportunities. The TNFD framework is anchored by the same four pillars of the Task Force on Climate-Related Financial Disclosures (TCFD) approach and all 11 of the TCFD recommended disclosures have been incorporated into the TNFD final draft. The final draft draws from, and is designed to inform, relevant standards including those from the International Sustainability Standards Board and the Global Reporting Initiative, both knowledge partners to the TNFD.
The TNFD framework will be published in September 2023 ready for market adoption.