The Taskforce on Nature-related Financial Disclosures seeks to tackle nature loss, which it says poses notable risk to corporate and financial stability
London — HSBC, BlackRock and Swiss Re are among the companies seeking to create a risk management and disclosure framework aimed at moving capital away from activities that damage nature.
The TNFD will be voluntary and aims to follow in the footsteps of the Taskforce on Climate-Related Financial Disclosures , championed by UN climate envoy Mark Carney and which is increasingly being made mandatory. Nature-related issues that could affect a company's share price include those such as deforestation, water shortages or the potential hit to food producers if declining bee numbers affect the pollination of plants which they rely upon.
“The business and financial world's race towards net zero emissions will only succeed if they race equally fast towards nature-positivity,” TNFD co-chairs Elizabeth Mrema and David Craig said in a statement.
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