Taskforce on Nature-related Disclosures (TNFD)
What is the TNFD?
The Taskforce on Nature-related Financial Disclosures (TNFD) is a market-led initiative launched in 2021.
The initiative builds upon the related Taskforce for Climate-related Financial Disclosures (TCFD), aiming to give the same focus for nature and biodiversity. It provides a risk management and disclosure framework for corporate and financial organisations to report and act on evolving nature-related risks. The TNFD Framework ultimately aims to support a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes
The Framework recommends the use of the LEAP process, in which the work is broken down into four stages:
- Locate your interface with nature
- Evaluate your dependencies and impacts
- Assess your risks and opportunities
- Prepare to respond to nature-related risks and opportunities and report
We have a wealth of experience with the TNFD framework, both as direct contributors to its development and through supporting clients across the full spectrum of TNFD engagement.
Supporting the TNFD’s development:
- Contributor to the framework development (v0.3, v0.4 and v1.0 releases)
- Led development of biome-specific guidance for tropical forests, marine shelf, rivers and streams, intensive land-use, grasslands and savannas
- Leading the review of TNFD’s ecosystem condition metrics
- Technical reviewer of sector-specific guidance
- Technical partner for the Metrics & Targets workstream
- Member of the TNFD Data Catalyst
- Facilitating official framework piloting with Global Canopy
- Gap analysis and internal readiness planning
- Holistic alignment with other reporting standards (CDP, GRI, ISSB, CSRD/ESRS, SBTN, etc.)
- TNFD-aligned target-setting workshops and nature strategy development
- LEAP assessment applying our science-based dependency, impact, risk, and opportunity analyses
- Disclosure and reporting under the TNFD’s recommended disclosure requirements
We've led clients on their TNFD journeys spanning a wide variety of sectors:
- Fashion & textiles
- Technology and media
- … and more
- Development banks
- Commercial banks
- Asset owners
- Asset management
- Impact investors
- Data providers
Your TNFD journey: how we can help
The table below illustrates how we can help your business leverage the opportunities available at each stage of the TNFD journey through our three-phase approach, with examples of relevant services.
|Implement & disclose
|What you get:
|e.g. Nature Disclosure Readiness
|e.g. Footprinting services
|e.g. Impact investment or Strategy services
|e.g. On the ground support
TNFD framework FAQs
Will the TNFD framework help my company align with other reporting standards?
The TNFD framework is an ideal starting point to facilitate alignment with other reporting standards because it builds on existing standards, metrics and data. It has been developed with the support and input of knowledge partners from the CDP, SBTN, ISSB, GRI, and others, and is a highly integrated framework for nature-related topics.
Should I use the LEAP approach for my TNFD assessment?
LEAP is a voluntary integrated assessment approach developed by the TNFD to support internal nature-related risk and opportunity management by companies. For companies who do not have a pre-existing nature-related assessment process, the LEAP approach may be a good place to start. We have also supported clients with existing internal processes to make their TNFD disclosures, using LEAP as a form of guidance to inform completeness.
Is the TNFD reporting mandatory?
Currently, TNFD reporting and disclosure is not mandatory in any jurisdiction. However, it is becoming increasingly mainstream as its sister framework by the Taskforce on Climate- related Financial Disclosure (TCFD) is mandatory for climate reporting in various regions. Existing sustainability reporting standards, such as the EU’s Environmental and Sustainability Reporting standards (ESRS), are also recommending that companies follow the TNFD LEAP process to identify material nature-related impacts, risks, and opportunities.