According to estimates by the World Economic Forum, more than half the world’s economic output — US$44tn of economic value generation — is moderately or highly dependent on nature. The TNFD is expected to support the shift in finance by providing a framework for organisations to report and act on evolving nature-related risks, in order to support a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes.
The IWG engaged 74 members covering financial institutions, regulators, corporates and others influential actors with over US$ 8.5 trillion in assets. We were further supported by the United Nations, with UNDP and UNEP Finance Initiative playing the role of ‘Accelerator Team’, WWF and Global Canopy. Inputs were widely received from observers and an initial group of stakeholders. We will continue to broaden engagement, seeking out the views of further groups and experts including representatives of indig- enous peoples and affected communities through the work of the full Taskforce. The groups and individuals in the IWG worked intensively over 9 months through member-led workstreams and with commissioned technical support to craft and deliver the material summarised herein.
Author: Taskforce on Nature-Related Financial Disclosures (TNFD)
Publisher: Taskforce on Nature-Related Financial Disclosures (TNFD)
Location(s): Globalbiodiversity conservation finance nature-based solutions (NbS) nature-related risks sustainable finance Taskforce on Nature-Related Financial Disclosures (TNFD)