CDP to help develop global biodiversity standard

9th December 2021


Environmental non-profit CDP has joined forces with the Global Reporting Initiative (GRI) to develop a new standard to help organisations improve their accountability of biodiversity impacts.

Once the new standard is published, CDP will use it to inform its disclosure system for investors, companies and cities looking to manage their environmental risks.

In addition, the Taskforce on Nature-related Financial Disclosures (TNFD) has confirmed that the revised GRI standard will be used when developing a new financial disclosure framework for nature-related risks.

It is hoped that this will pave the way for a harmonised approach to biodiversity disclosures, with the final standard expected by the end of 2022.

“This collaboration with GRI allows CDP to build upon our decade-long work on water and forests, helping to ensure that corporations, capital market actors and cities are equipped to support the goals of the Convention on Biological Diversity," said Paul Simpson, CDP CEO.

“CDP looks forward to working in partnership with GRI to enable corporate reporting across a broader spectrum of biodiversity issues through CDP’s disclosure platform.”

In June, GRI brought together a group of funders supporting the review of GRI 304: Biodiversity 2016, and a multi-stakeholder technical committee was appointed by the Global Sustainability Standards Board (GSSB) to lead the development process.

It was also announced last week that GRI and the European Financial Reporting Advisory Group (EFRAG) have entered into a co-construction process to align a new EU biodiversity reporting standard with the GRI update.

“It is highly significant that GRI will collaborate with both CDP and TNFD, in addition to our co-construction work with EFRAG,” said Judy Kuszewski, GSSB chair.

“I’m confident that we can deliver credible and multi-stakeholder accepted disclosures – which form the basis of the GRI Standards – leading to improved transparency in support of global efforts to safeguard biodiversity.”

Image credit: iStock


Transform articles

Net-zero transition to cost petrochemical industry $759bn

Petrochemicals could be made with almost no carbon emissions if the industry invests an extra $759bn (£604bn) by 2050, according to a new report from research firm BloombergNEF (BNEF).

26th May 2022

Read more

Momentum is gathering behind the switch to electric vehicles, but there are concerning disparities in chargepoint coverage. Huw Morris reports

26th May 2022

Read more

Two pioneering energy-saving projects in Sweden hold important lessons for the smart transition, says Oliver Ingwall-King

26th May 2022

Read more

Chris Carus tells Joe Nisbet why a community-based retrofit approach could be key to decarbonising our homes

26th May 2022

Read more

At the end of March, our longstanding colleague Nick Blyth departed IEMA to take up the role of senior environment manager at the Agriculture and Horticulture Development Board.

26th May 2022

Read more

Following the success of the circular economy Extended Resource Ownership (ERO) model for manufacturing, developed by IEMA’s Circular Economy Network Steering Group in 2021, the group has initiated a new project to develop an ERO model for the construction sector.

26th May 2022

Read more

The April/May edition of Transform included an article that referred to some work IEMA and Deloitte had in train on the topic of green skills and jobs.

26th May 2022

Read more

The number of companies with emission reduction targets or commitments approved by the Science Based Targets initiative (SBTi) doubled to a record 2,253 last year, representing more than a third of global market capitalisation (US$38trn).

26th May 2022

Read more

Almost half of CEOs rank sustainability as one of the highest priorities for their organisations over the next three years, up from a third in 2021, according to a survey of over 3,000.

26th May 2022

Read more

Media enquires

Looking for an expert to speak at an event or comment on an item in the news?

Find an expert