Taskforce on Nature-related Financial Disclosures

The Taskforce on Nature-related Financial Disclosures (TNFD) is a market-led and science-based initiative supported by national governments, businesses and financial institutions worldwide. TNFD consists of 40 individual Taskforce members representing financial institutions, corporates and market service providers with over US$20 trillion in assets. 
TNFD makes recommendations and offers guidance to help organizations report and act on evolving nature-related issues with the ultimate goal of supporting a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes. 
== History ==
In July 2020, the Taskforce on Nature-related Financial Disclosures (TNFD) initiative was announced, with a preparatory phase until June 2021. Supported by founding partners and funders, the TNFD organization launched in June 2021, earning global endorsements from the G7, G20, and other influential leaders.
== Products and Services ==
At Climate Week NYC in September 2023, the TNFD introduced ‘Nature risk is financial risk,’ a publication of 14 recommended disclosures and additional implementation guidance consistent with the global baseline for sustainability reporting and aligned with the goals and targets of the Global Biodiversity Framework. 
The recommended disclosures for all sectors are structured around four pillars: governance, strategy, risk and impact management, and metrics and targets. 
Feedback was received from over 60 countries, and over 200 pilot tests were conducted by various businesses and financial institutions worldwide. To integrate existing standards, frameworks, and tools, the TNFD collaborated with knowledge partners, including standards bodies like the International Sustainability Standards Board (ISSB) and Global Reporting Initiative (GRI), scientific and conservation organizations such as International Union for Conservation of Nature (IUCN) and the UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC), and framework providers like the Capitals Coalition and the Science Based Targets Network (SBTN).
 
To integrate existing standards, frameworks, and tools, the TNFD collaborated with knowledge partners, including standards bodies like the [International Sustainability Standards Board] (ISSB) and Global Reporting Initiative (GRI), scientific and conservation organizations such as International Union for Conservation of Nature (IUCN) and the UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC), and framework providers like the Capitals Coalition and the Science Based Targets Network (SBTN). 
== Governance ==
The Taskforce's work is financed by governments and philanthropic foundations. Major financial contributors and the original founding organizations are represented on the TNFD Stewardship Council. The TNFD does not accept financial contributions from private sector organizations, including its Taskforce members. The TNFD Stewardship Council represents the four founding partners of the TNFD and other government and philanthropic entities that provide the financial resources needed to run the Taskforce. The four founding partners of the TNFD are: Global Canopy, United Nations Development Program (UNDP), United Nations Environment Program Finance Initiative (UNEP-FI), and WWF.
 
== Key People ==
David Craig and Elizabeth Maruma Mrema are co-chairs of the TNFD. 
== References ==