London, 4 November 2022: V0.3 of the TNFD beta framework released with significant updates and enhancements:
- Expansion of the draft disclosure recommendations to incorporate dependencies and impacts on nature alongside risks and opportunities to the organisation;
- Proposed new disclosure recommendations related to supply chain traceability; the quality of stakeholders, including rights-holders, engagement; and the alignment of an organisation’s climate and nature targets;
- An adaptive approach to the application of TNFD’s disclosure recommendations to accommodate the varying materiality and reporting preferences and needs of report preparers; and to support early action by companies and financial institutions and encourage increasing disclosure ambition over time;
- Additional guidance on risk and opportunity assessment and the metrics proposed to support that analysis;
- Enhanced practical usability of its proposed risk and opportunity assessment approach (LEAP);
- Draft guidance on target-setting developed with the Science Based Targets Network (SBTN) and draft disclosure guidance for financial institutions; and
- Two new discussion papers – on scenarios; and societal dimensions of nature-related risk management and disclosure – to encourage market participants to contribute further to these areas of ongoing work by the Taskforce.
Read more in the full article @ TNFD online