Today, beta v.0.4 of the TNFD Risk and Opportunity Framework was released. This is the last draft that will be available for consultation before the launch of the final TNFD document in September 2023.
IEMA’s Policy and Engagement Lead on biodiversity and natural capital, Lesley Wilson, reports.
The TNFD provides a suite of tools and guidance to support businesses to understand and report on their nature-related impacts and dependencies and is roughly divided into: nature related issues assessment (using their LEAP – Locate, Evaluate, Assess, Prepare – model); recommended disclosures; and additional guidance on sectors, biomes, scenarios, stakeholders and metrics.
The TNFD continues to use the same structure and language as the TCFD (Task Force on Climate-related Financial Disclosure) for consistency. All 11 recommended TCFD disclosures have been included plus a further 3 for clarity in the nature context. The TNFD also continues to attempt to align with other initiatives such as SBTN (Science-Based Targets for Nature) and the Global Biodiversity Framework.