Today the Coalition released a joint report with the Task Force on Nature-related Financial Disclosure (TNFD). The report was released as part of the launch of the v0.2 of the TNFD beta framework which has been designed to enable businesses and financial institutions to integrate the value of nature across their decision-making.
The report highlights the synergies and interconnection between the Natural Capital Protocol and TNFD’s LEAP approach, which sits at the heart of the TNFD framework. The report outlines how steps 05 and 06 in the Protocol should be used to conduct the ‘Evaluation’ phase of TNFD’s Locate, Evaluate, Assess & Prepare (LEAP) approach.
Understanding the value of impacts and dependencies on nature is integral to the effective adoption and implementation of the TNFD’s recommendations, and the Natural Capital Protocol provides an internationally standardized way for organizations to understand these relationships.
The TNFD has been developed to align with existing frameworks such as the Protocol, and TNFD’s Technical Director was also a lead author of the Protocol. The Coalition is also one of TNFD’s key knowledge partners.
This work supports the High-level Business Actions on Nature which were released at this year’s World Economic Forum meeting in Davos by the Capitals Coalition, TNFD, Business for Nature, Science-based Targets Initiative, WEF, WBCSD and WWF.
These actions have been developed to clarify the landscape of frameworks, methodologies and guidance available for businesses and provides an overview of the journey that businesses should take to signal they are making meaningful contributions to help reverse nature loss and contribute to a nature-positive world, where positive impacts outweigh negative ones.