TNFD Publishes Final Draft Disclosure Framework

On March 28, 2023, the Taskforce on Nature-related Financial Disclosures (TNFD) announced the release of the fourth and final iteration of its beta framework for nature-related risk management and disclosures, including a tiered approach to disclosure metrics. An update to the third draft released in November 2022, the draft framework is designed to help companies report on their nature-related risks and impact and ultimately direct capital flows into nature-related investment. A final set of recommendations is expected in September 2023.

The TNFD is an international initiative whose framework is modelled on the framework developed by the Task Force on Climate-related Financial Disclosures (TCFD). The TNFD consists of 40 members, including financial institutions, corporations and markets service providers, and is assisted by a forum of more than 750 members and 18 scientific organizations and standard-setting bodies.