United Kingdom | Publication | December 2021
As the largest pension schemes and companies grapple with the demands of the climate change reporting requirements of the Task-force on Climate-related Financial Disclosures (TCFD), it is worth being aware that 2021 has seen the gradual emergence of a new Task-force on Nature-related Financial Disclosures (TNFD).
Officially launched in June, this aims to create a risk reporting framework that will encourage more nature-positive financial investments. In other words the TNFD aims to do for nature and biodiversity what the TCFD is trying to achieve for climate.
This initiative is currently at an early stage but will become significant for pension schemes if its recommendations become mandatory (and it appears to have the support of the G7 finance ministers). The TNFD is working towards producing a reporting framework by 2023 for consultation. Trustees should keep a watching brief on how this develops.
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