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Glossary

Taskforce on Nature-Related Financial Disclosures (TFND) Recommendations

Task Force on Climate-Related Financial Disclosure (TCFD)

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Overview

The Taskforce on Nature-related Financial Disclosures (TNFD) Recommendations provide a framework for organisations to identify, assess, manage and disclose their nature-related dependencies, impacts, risks and opportunities.

The recommendations are designed to help companies and financial institutions integrate nature-related issues into governance, strategy, risk and impact management, and decision-making. They are structured around four pillars – governance, strategy, risk and impact management, and metrics and targets – and include 14 recommended disclosures.

The TNFD Recommendations are intended to support consistent reporting on nature-related issues and are designed to complement existing sustainability reporting frameworks and standards, including the ISSB Standards. The TNFD also provides additional guidance, including the LEAP approach, sector-specific guidance and guidance on value chains and engagement with Indigenous Peoples and Local Communities.

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About

Name
Task Force on Nature-Related Financial Disclosures (TFND) Recommendations
Owner(s)
Task Force on Nature-Related Financial Disclosures (TFND)
First Published
2023
Licensing Terms
Open Access
Number of Participants
100-500
Applicable Size of Entity
All organisations and sectors

Governance

Scheme Holder Type
International Organisation – An organisation established by treaty between a group of nations, such as the United Nations or the ILO.
Core Focus
Nature-related risk management and disclosure framework
Claim Type
Business practice performance

Key areas

The TNFD Recommendations cover:

  • Governance of nature-related dependencies, impacts, risks and opportunities
  • Nature-related risks and opportunities within an organisation’s strategy and value chain
  • Processes for identifying, assessing, prioritising and managing nature-related issues
  • Metrics and targets for managing and disclosing nature-related dependencies, impacts, risks and opportunities

The TNFD Recommendations are particularly relevant to organisations seeking to understand and manage nature-related risks and impacts across their operations and value chains. For businesses with complex or high-risk supply chains, this can include assessing nature-related dependencies and impacts associated with sourcing, production and other upstream activities.