Nature Disclosures: 320 Companies Join TNFD Reporting
The Taskforce on Nature-related Financial Disclosures (TNFD) announced that 320 organisations from 46 countries have committed to starting nature-related disclosures based on TNFD Recommendations released in September last year.
This first group embracing TNFD Recommendations includes major publicly traded companies globally, representing a market capitalisation of $4 trillion.
Over 100 financial institutions, including some of the largest asset owners and managers globally with $14 trillion in Assets under Management (AUM), as well as banks, insurers, and other market players like stock exchanges and audit firms, are part of this cohort.
These organisations have revealed their commitment to adopting TNFD Recommendations and incorporating TNFD-aligned disclosures in their annual corporate reports for FY2023, FY2024, or FY2025.
Coming from 46 countries, the organisations in this inaugural TNFD adopters' group include notable financial institutions such as NBIM, holding nearly 1.5% of shares in the world’s listed companies, and 7 of the 29 Globally Systemically Important Banks (GSIBs).
The announcement took place at an Issue Briefing event during the World Economic Forum's Annual Meeting yesterday.
David Craig, TNFD Co-Chair and former founder and CEO of Refinitiv said, “This is a big moment for nature finance and corporate reporting. As climate-related sustainability reporting becomes mainstream, it signals that investors and companies recognise the link between their business and nature, highlighting both risks and opportunities.”
Elizabeth Maruma Mrema, TNFD Co-Chair and Deputy Executive Director of the UN Environment Programme (UNEP) added, “A year ago, the world agreed on the Global Biodiversity Framework to address nature loss, including a target on corporate reporting. The release of TNFD recommendations last September provided the necessary tools, and today, the market has committed to taking action.”
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Source: TNFD
