The Taskforce on Nature-related Financial Disclosures says that 320 organisations have committed to begin making nature-related disclosures based on its recommendations.
The organisations include publicly listed companies, over 100 financial institutions, representing US$14 trillion in AUM, and vendors. They have all signalled their intention to begin adopting the TNFD Recommendations and publishing TNFD-aligned disclosures as part of their annual corporate reporting for FY2023, FY2024 or FY2025.
The announcement was made today at the World Economic Forum on Tuesday 16th January 2024.
David Craig, Co-Chair of the TNFD and former founder and CEO of Refinitiv, says, “This is a milestone moment for Nature finance and for corporate reporting. As climate-related sustainability reporting goes mainstream through the new International Sustainability Standards Board (ISSB) standards and regulation in a growing number of countries, this is a clear signal that investors, lenders, insurers and companies are recognizing that their business models and portfolios are highly dependent on both nature and climate and need to be treated as both strategic risks and investment opportunities. We are delighted to see such a strong, diverse and international group of companies and financial institutions step forward only four months after the release of our recommendations and look forward to even more stepping forward over the coming months”.