This report by Global Canopy and Vivid Economics outlines why tackling nature-related risks is an urgent priority for the finance sector, and sets out the case for a Task Force to develop an international reporting standard on nature related financial disclosures, supported by regulators and financial institutions.
The report argues that currently, capital is systematically misallocated because financial decision-making fails to account for material nature-related financial risks. It proposes the TNFD to act as a global convening institution and accelerate action on nature-related financial risks. It would use the format and principles created by the Task Force on Climate Related Financial Disclsoures, building on lessons learned from its experience, while recognising that biodiversity is a much more complex issue and will require different approaches.
The TNFD initiative is supported by the Foreign, Commonwealth and Development Office (FCDO) with funding specifically provided towards this report. This report is also funded by Finance for Biodiversity (F4B), with support from the MAVA Foundation.
Global Canopy/Vivid Economics (2020) The Case for a Task Force on Nature-related Financial Disclosures.