#35 How to Implement the Taskforce on Nature-related Financial Disclosures (TNFD) Recommendations

Listen to TNFD’s Executive Director Tony Goldner and TNFD’s Technical Director Emily McKenzie.

In what ways does business interact with nature? What can businesses do about the biodiversity crisis, the loss of wildlife populations or species facing extinction?

In September, the Task Force on Nature related Financial Disclosures (TNFD) came up with at least some of the answers, with its recommendations providing the tools and methodologies needed by companies and investors to develop a sustainable relationship with nature.

In this conversation, you’ll hear more about:

How can nature present a risk to business?
Where does the TNFD recommendations fit with the rest of reporting frameworks such as ESRS or the ISSB Standards.
The relationship between TNFD and TCFD
The guidance available to businesses such as the LEAP approach to implement the recommendations

“The cash flows of business depend on the flows of benefits that we get from nature into our business models and into our society. In science, these are called ecosystem services, and every business relies on them, either directly or indirectly through its supply chain relationships. And unfortunately, investors expect cash flows to have a nice, steady, incremental growth year on year. But planetary science is now telling us that the decay of our natural systems is leading us to a risk where our ecosystem services from nature into business are in decline. So we have a fundamental challenge of rebalancing and reframing the business and societal relationship with nature on which we depend.”

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Tony Goldner in Frankly Speaking