Managing nature-related risks and opportunities with TNFD
The historic Kunming-Montreal Global Biodiversity Framework (GBF) adopted in December 2022 marks the first-time that countries have set a collective goal to halt and reverse nature loss by 2030 reflecting the full scale of financing effort needed from all stakeholders, both private and public, to address nature loss. The agreement has significantly raised the ambition of the international community and called on companies around the world to take urgent action.
However, recognizing the problem isn’t enough. Parties to the Convention on Biological Diversity must actively implement what they agreed to, ensuring that financial flows are aligned with the goals and targets of the Kunming-Montreal agreement with Target 15 specifically requesting that ‘businesses assess and disclose biodiversity dependencies, impacts and risks, and reduce negative impacts’.
This relies on disclosure. Not having reporting by companies is preventing financial institutions from aligning their financial flows and playing a more positive role for nature.
In September 2023, after two years of collaborative work, the Taskforce on Nature-related Financial Disclosures (TNFD) released its final recommendations. These guidelines are a key milestone in the relationship between nature, business and financial capital, positioning nature risk as a financial risk alongside climate risk.
Join us for an illuminating session from 08:30 to 10:00 pm on Friday 17th November, where we delve into the TNFD. Gain insights directly from TNFD’s Executive Director, Tony Goldner, the Norwegian Minister of Climate and Environment and representatives from the Norwegian businesses. Director of the Research Department at Cicero, Kristin Thorsrud will host a panel discussion, highlighting how Norwegian businesses and financial institutions are aligning with this emerging.