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WBCSD to support the Task Force on Nature-related Financial Disclosures (TNFD)

Published: 30 Jul 2020
Type: News

21 July 2020 - The UK and Swiss governments and ten financial institutions are throwing their weight behind efforts to create a Task Force for Nature-related Financial Disclosures (TNFD) by joining an Informal Working Group that will lead to the creation of a TNFD in 2021. Establishing a reporting framework for finance sector impacts and dependencies on nature  is seen as critical for halting biodiversity and ecosystem loss.

WBCSD has backed the initiative and is also part of the Informal Working Group (IWG). IWG will plan a two-year program of work for the Task Force, to resolve the reporting, metrics, and data needs of financial institutions that will enable them to better understand their risks, dependencies and impacts on nature. In collaboration with the corporate sector, reporting frameworks will be developed in 2021, and tested early in 2022 before being made available worldwide. 

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