Green Finance Center, Paulson Institute

TNFD Forest Image

On 28th June Deborah Lehr (Vice Chairman and Executive Director of the Paulson Institute) welcomed David Craig (Co-Chair at the Taskforce on Nature-related Financial Disclosures (TNFD), founder and former CEO of Refinitiv. They discussed biodiversity loss, the role of data in addressing the twin biodiversity and climate crises, and the importance of developing and delivering a risk management and disclosure framework for organizations to report and act on evolving nature-related risks.

Bio-diversity loss will lead to economic loss, pollination loss on it’s own could lead to agriculture loss of $220B according to the Paulson institute report

Governments need to stop subsidising bad methods of natural production agriculture, but the private sector also plays a vital role in re-directing finance to more nature positive outcomes

And whilst many companies are addressing climate risk and net-zero goals, they are appreciating that climate and nature are two sides of the same coin, and that the “physical risks” from climate are manifesting themselves in natural risks - availability of water, land and soil state, pollination for example

The TNFD now has over 500 members, and is growing rapidly as it brings together market participants, scientific community and existing standards bodies to create a risk management and disclosure framework for assessing, responding to and managing nature related financial risk. The task force has released the 2nd version of the framework, which includes assessment metrics to help asses both business dependencies from, and impacts to nature at the specific ecosystem (biome) location

To access and review V0.2 of the TNFD framework follow this link TNFD BETA V0.2