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Launch of TNFD – Framework for nature related issues

The Taskforce on Nature-related Financial Disclosures (TNFD), where AP7 is part of the steering group, has today published its final Recommendations for nature-related risk management and disclosure at Climate week NYC.

After two years of design and development the TNFD launched its final recommendations on September 18th 2023 of nature-related risk management and disclosure. The framework based on TCFD intends to integrate nature-related risk and opportunity analysis in companies’ strategy work and in financial decision-making.

TNFD focuses on how companies are affected by, as well as how they affect, nature and biodiversity in the short and long term. The goal is that the framework enables clearer management, reporting and action on nature-related risks. The steering group of TNFD, in which AP7 has been a part, has consisted of around forty members worldwide who represent financial actors and companies from a wide range of sectors.

It has been a lot of work to establish the framework and succeed in uniting many perspectives from different industries and interests. Dependence of, and impact on, nature poses risks for companies and investors. But also business opportunities with a positive effect on nature. It is therefore very welcome that we have TNFD in place so that companies can achieve deeper insight into its nature-related connections and create uniform reporting on these issues, says Flora Gaber, responsible for ESG analysis AP7.

The recommendations of TNFD are science-based and voluntary and are closely aligned to the disclosure framework developed by the TCFD, incorporating the same four conceptual pillars:

  1. Governance: The governance processes, controls and procedures the organisation uses to monitor and manage nature-related issues;
  2. Strategy: The approach the organisation uses to manage nature-related issues;
  3. Risk & Impact Management: The process used by the organisation to identify, assess, prioritise and monitor nature-related dependencies, impacts, risks and opportunities; and
  4. Metrics & Targets: The metrics and targets used to assess and manage material nature- related dependencies, impacts, risks and opportunities.

Read more: Taskforce on Nature-related Financial Disclosures (TNFD)

Read the report: Recommendations of the TNFD