TNFD recommendations for sustainability reporting: nature matters

Major changes are underway for sustainability reporting and disclosure, changes which extend well beyond climate change and embrace extensive nature-related risks and opportunities. On 23 September 2023, the Taskforce on Nature-related Financial Disclosures (TNFD) issued 14 recommended disclosures (the recommendations) and guidance on their implementation. While the recommendations are voluntary in nature, the government has pledged to consider how they should be incorporated into domestic policy and legislation. Other jurisdictions are likely to follow the UK in this.

It will be useful for organisations to consider the likely impact of the recommendations, how they align with other environmental reporting standards and how to prepare for their implementation.