11 April 2022
Building on the progress made by the Task Force on Climate-related Financial Disclosures (the "TCFD"), companies are now likely to come under pressure to report and act on nature-related risks and opportunities associated with their business, in addition to climate-related risks. The Taskforce on Nature-related Financial Disclosures (the "TNFD"), another global market-led initiative modelled on the TCFD, published a report and an accompanying online portal on 15 March 2022 which represent a beta version of the TNFD's framework (the "TNFD Framework"). The TNFD Framework seeks to deliver a risk management and disclosure framework for organisations to report and act on evolving nature-related risks. The TNFD Framework is open for ongoing comment through the interactive online platform until June 2023.
In the interim, subsequent versions of the TNFD Framework are planned for release in June 2022, October 2022 and February 2023 with the final version due in Q3 2023.