Establishing the Taskforce on Nature-related Financial Disclosures (TNFD)

The project aims to create a standardized global reporting framework for nature-related financial risks, modeled after the TCFD. It involves a phased approach: preparing the taskforce, building the framework, testing it with a diverse group of institutions, and conducting public consultations. The goal is to redirect global financial flows toward nature-positive outcomes by increasing transparency regarding biodiversity loss and natural capital dependencies.

• The project aims to address the failure of the financial market to incorporate the financial materiality of biodiversity loss, noting that an assessment of 75 of the world's largest asset managers found that none had a dedicated policy on biodiversity.
• The TNFD framework will be structured around four pillars: governance, strategy, risk management, and metrics and targets, aligning with the Task Force on Climate-related Financial Disclosures (TCFD) structure.
• The project incorporates the principle of "double materiality," requiring that reporting looks at both the impact of the organization on nature and the organization's dependency on nature.
• The project is expected to trigger a transformative change by 2030, with a goal that at least 30% of assets from the world's 75 largest asset managers comply with TNFD principles, potentially redirecting around EUR 16 trillion.
• The project is implemented in four phases: Phase 0 (Prepare) focuses on launching the TNFD; Phase 1 (Build) develops the standardized framework; Phase 2 (Test) pilots the framework with data developers and users; and Phase 3 (Consult) and Phase 4 (Disseminate) involve public consultation and final launch by July 2023.
• The World Economic Forum estimates that over 50% of global GDP, or US$44 trillion of economic value generation, is moderately or highly dependent on nature.
• The project identifies several high-impact and high-dependency sectors for framework development, including commercial agriculture, forestry, infrastructure, large-scale mining, and industrial fisheries.
• The project budget totals USD 6,164,582, consisting of a GEF grant of USD 1,698,829 and co-financing of USD 4,312,858.
• The project aims to leverage the success of the TCFD, which has over 1,000 supporting organizations representing a market capitalization of over US$12 trillion.

APA

WWF International (2021). Establishing the Taskforce on Nature-related Financial Disclosures (TNFD). https://www.worldwildlife.org/documents/931/47r2uunsh2_G0034_WWF_GEF_Project_Document_Establishing_the_Taskforce_on_Nature_r1rVShB.pdf

Chicago

WWF International. Establishing the Taskforce on Nature-related Financial Disclosures (TNFD). 2021. https://www.worldwildlife.org/documents/931/47r2uunsh2_G0034_WWF_GEF_Project_Document_Establishing_the_Taskforce_on_Nature_r1rVShB.pdf.

Wikipedia

{{cite report |author=WWF International |title=Establishing the Taskforce on Nature-related Financial Disclosures (TNFD) |date=4 May 2021 |url=https://www.worldwildlife.org/documents/931/47r2uunsh2_G0034_WWF_GEF_Project_Document_Establishing_the_Taskforce_on_Nature_r1rVShB.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{wwfinternational2021establishing, author = {{WWF International}}, title = {{Establishing the Taskforce on Nature-related Financial Disclosures (TNFD)}}, institution = {WWF International}, year = {2021}, month = may, url = {https://www.worldwildlife.org/documents/931/47r2uunsh2_G0034_WWF_GEF_Project_Document_Establishing_the_Taskforce_on_Nature_r1rVShB.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }