The Taskforce on Nature-related Financial Disclosures (TNFD) is an initiative led by the private sector. It aims to create a global framework to help organisations manage and disclose their nature-related risks and opportunities. The TNFD is working to shift global financial flows towards nature-positive outcomes.
Today, the TNFD released its recommendations and guidance. The TNFD framework is now ready for voluntary use in the market.
Australia has supported the design and development of this global framework. The Australian Government funds the TNFD. It has sat on the TNFD Stewardship Council since November 2021. Other governments on the council include France, Germany, Norway, the Netherlands, Switzerland and the United Kingdom.
We have led the Australian Government’s engagement on the TNFD framework. We have worked with the TNFD and private sector to help build market readiness.
We commissioned TNFD pilots with Australian businesses and financial institutions.
The pilots covered the following 5 value chains:
- Critical mineral mining for producing clean energy technologies
- Natural gas extraction for industrial manufacturing
- Domestically sourced fresh beef and salmon sold at a supermarket
- Property development and building construction
- Domestic cultivation of cotton for export
Information from the pilots has now been published. This includes the case study report and 5 value chain deep-dive guidance documents. Organisations can use the package to assess their nature-related risks and opportunities.