Commenting on the release of the new TNFD framework, Emma Latham-Jones, Senior Manager at ShareAction, said: “The new TNFD framework is a crucial step in the right direction towards protecting our planet’s nature and biodiversity. It is scientifically robust and comprehensive. It also tailors guidance depending on biome and sector – recognising that different environments such as forests, savannas or rivers each require a different methodology to protect them. We welcome the strong links to the Task Force on Climate-Related Financial Disclosures and its acknowledgement that climate and biodiversity are interlinked issues.
“There are still concerns that need to be addressed if the new framework is to become the gold standard for the protection of the natural world. Chief among them is the lack of data standardisation that would allow information about biodiversity to be compared effectively between financial institutions.
“We urge the business and finance sectors to incorporate the new framework into their decision-making process. We also urge governments to recognise the importance of biodiversity to people and planet and make the framework mandatory. Only then can we begin to build a future where the natural world that sustains us all is protected for future generations.”