CDSB is encouraged to see the Taskforce on Nature-related Financial Disclosures (TNFD) achieve significant traction in making nature an area of focus for the business community globally, as the standard setters look to create a unified system for sustainability reporting.
We are committed to contributing to the success of the TNFD as it
looks to align its work with existing measurement tools, reporting
mechanisms, standards and frameworks. The natural world plays a vital
underpinning role in supporting human life. In turn, threats to nature
have the potential to cause significant and wide-ranging impacts for
business.
In order to reach its goals, the TNFD should build upon the
well-established work of the Financial Stability Board’s Task Force on
Climate related Financial Disclosures (TCFD), the Natural Capital
Protocol and associated guidance and initiatives, as well as work by the
alliance of leading standard-setters in sustainability reporting
focused on enterprise value and wider sustainability impacts via the
IFRS International Sustainability Standards Board.
There is an urgent need for globally consistent, comparable, and
reliable sustainability disclosure standards. By working with
standard-setters, frameworks, protocols, coalitions from key
jurisdictions, the framework issued by TNFD will help to provide a
globally consistent and comparable sustainability reporting baseline for
nature.
Mardi McBrien, Managing Director, CDSB:
“By working in a coordinated manner and building on agreed and
increasingly standardized frameworks and metrics, we can get further,
creating a lasting impact faster. In the face of the urgent need to
address biodiversity loss, it is imperative that businesses seek to
understand, report upon and mitigate their impacts and dependencies on
the natural world.”
“It is encouraging to see the TNFD align its work with the
established systems we have in place already, which are in a steady
process of unification, and CDSB looks forward to contributing its own
work to this same endeavour.”
Ravi Aberwardana, Technical Director, CDSB:
“As a member of the TNFD Informal Working Group, and Co-Lead to a
Working Group, it is great to see this work gain so much support.
Biodiversity remains one of the most integral aspects in our attempts to
preserve the value in the natural world.”
“While this work remains ongoing, this should not be a waiting game
for companies looking to report on the financially-material implications
of biodiversity for your organisation. CDSB has committed to providing
practical guidance to companies on reporting on biodiversity-related
financial matters in Q4 of this year, and you can contribute to our work
by getting in touch with us now, to learn more, and inform and guide
future frameworks and standards going forward.”
About CDSB:
The Climate Disclosure Standards Board (CDSB) is an international
consortium of business and environmental NGOs. We are committed to
advancing and aligning the global mainstream corporate reporting model
to equate natural capital with financial capital.
We do this by offering companies a framework for reporting
environmental information with the same rigour as financial information.
In turn this helps them to provide investors with decision-useful
environmental information via the mainstream corporate report, enhancing
the efficient allocation of capital.
CDSB
© CDSB
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