TNFD announcements mark an important step forward in valuing nature

Today at the World Economic Forum in Davos, the Taskforce on Nature-Related Financial Disclosures (TNFD) announced a list of 320 early adopters of its recommendations. These companies, which include 106 financial institutions, will produce TNFD-aligned disclosures from 2024 or 2025.

Reacting to the news, Rachel Solomon Williams, Executive Director of the Aldersgate Group, said:

“This is a positive step forward that will strengthen our collective understanding of how human activity impacts the environment. Nature is fundamental to our future prosperity and wellbeing, but nature decline is accelerating at an alarming rate. Urgent action must be taken to address this. High-quality, consistent, and comparable nature-related information can help to embed nature into business and financial decisions, shifting investment towards nature-positive activities.

“The breadth and size of this group of early adopters, with £11tr in Assets under Management, as well as its cross-economy nature, demonstrates both the private sector’s commitment to nature restoration and its power to drive positive change. It is now vital that governments take this statement of intent on board and enact measures that accelerate business adoption to increase the quantity and quality of nature-related information. This should include a roadmap to making disclosure mandatory, guidance and support for capacity and capability building, and increased collaboration on data sharing to increase the availability of biodiversity data”