SLR supports TNFD’s release of the beta version of its framework for nature-related risk management
Yesterday’s publication of a beta framework from the Taskforce on Nature-related Financial Disclosures (TNFD) is a seminal moment. It provides the structure and impetus for a shift in global financial flows away from nature-negative outcomes and towards nature-positive outcomes. SLR is proud to be a part of the TNFD Forum, an eclectic global network of over 300 organisations that supports the TNFD’s mission.
The Taskforce on Climate-related Financial Disclosures (TCFD) released its influential framework almost five years ago. In a sense the TNFD is for nature what TCFD is for climate, and the four recommended disclosure themes are identical: governance; strategy; risk management; and metrics and targets. But the challenges are more acute, most notably because context is everything with nature and disclosures must be location-specific. The TNFD simply has to be more influential than the TCFD over the next few years, in order to reverse the degradation of nature by 2030.
SLR will play our part in ensuring that this happens. We will support clients to test the beta framework. We will help clients in priority industries – those with the most impacts and/or dependencies on nature – understand the urgency for action. We will participate fully via the TNFD Forum ahead of the final framework’s launch in September 2023.
Neil Penhall, SLR’s Chief Executive welcomed the release of the beta framework: “I am excited to see the TNFD's vital efforts come to fruition. This is an important milestone for all of us who are committed to integrating nature-related risks and opportunities into all decisions. SLR's dedicated sustainability professionals stand alongside our TNFD colleagues to help ensure that the framework has maximum global impact. The hard work of helping organisations to understand and implement the recommendations starts today!”
TNFD outputs are a public good. As such, SLR are looking to work with interested parties to test and improve the beta framework. In return, we’ll need transparency wherever possible (including a willingness to share with the TNFD) and a spirit of open innovation. SLR expect TNFD-related work to become a significant part of our ESG Strategic Advisory discipline, and for many of our 60 ecologists to become involved too. But for now we are looking for opportunities to learn collaboratively. Please get in touch if you are interested.