F4B is supporting the development of a Taskforce on Nature Related Disclosures (TNFD) by chairing the informal Technical Expert Group that is providing expert input into the process of developing the TNFD.

​

The TNFD is being catalysed through a partnership between Global Canopy, the United Nations Development Programme (UNDP), the United Nations Environment Programme Finance Initiative (UNEP FI), and the World Wide Fund for Nature (WWF).

​

The idea for a TNFD began in January 2019 at the World Economic Forum’s Davos meeting and has gathered momentum since then through the efforts of the Partners. 

​

The overall TNFD goal is to provide a framework for corporates and financial institutions to assess, manage and report on their dependencies and impacts on nature, enabling them to take nature-related risk, dependencies and impacts into account.

 

The taskforce will complement the Task Force on Climate-related Financial Disclosures, whose recommendations have now been made mandatory by the UK government. The Informal Working Group – consisting of the UK and Swiss governments and financial institutions such as AXA, BNP Paribas and DBS Bank – formed in September 2020 to set the basis for the Taskforce. Final recommendations from the TNFD are likely to be launched in 2023.

​

If successful, it will steer finance towards outcomes that are nature-positive, in alignment with the UNFCCC Paris Agreement, the CBD Post-2020 Global Biodiversity Targets and the UN Sustainable Development Goals.

​