Climate Change Data

Taskforce on Nature-related Financial Disclosures (TNFD)

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

ESG Focus Areas

  • Nature-related risks and opportunities
  • Biodiversity
  • Ecosystem services

Environmental Achievements

  • Developed a risk management and disclosure framework for organizations to report and act on evolving nature-related issues.

Social Achievements

  • Developed guidance on engagement with Indigenous Peoples, Local Communities, and affected stakeholders.

Governance Achievements

  • Recommended disclosures on board oversight of nature-related issues and management's role in assessing and managing them.

Climate Goals & Targets

Long-term Goals:
  • Achieve robust understanding of the importance of nature to financial systems and business considerations by market participants across all sectors and regions.
Medium-term Goals:
  • Further develop sector and biome guidance, including sector and biome metrics.
  • Support efforts by the ISSB to draw on the TNFD’s recommendations.
Short-term Goals:
  • Encourage and scale voluntary market adoption of the TNFD recommendations.

Environmental Challenges

  • Lack of widely adopted framework for nature-related metrics and targets.
  • Data gaps and inconsistencies in nature-related data.
  • Challenges in translating nature-related dependencies and impacts into financial risks and opportunities.
Mitigation Strategies
  • Developed a set of recommended indicators and metrics for assessment and disclosure.
  • Developed additional guidance on identifying and assessing nature-related issues (LEAP approach).
  • Established the Nature-related Data Catalyst initiative to accelerate data solutions.

Supply Chain Management

Responsible Procurement
  • Guidance on identifying and assessing nature-related issues in upstream and downstream value chains.

Climate-Related Risks & Opportunities

Physical Risks
  • Acute risks (e.g., oil spills, forest fires)
  • Chronic risks (e.g., pollution, climate change)
Transition Risks
  • Policy risks
  • Market risks
  • Technology risks
  • Reputational risks
  • Liability risks
Opportunities
  • Resource efficiency opportunities
  • Capital flow and financing opportunities
  • Market opportunities
  • Products and services opportunities
  • Reputational capital opportunities
  • Ecosystem protection, restoration, and regeneration opportunities

Reporting Standards

Frameworks Used: TCFD, ISSB, GRI, GBF