The Taskforce on Nature-related Financial Disclosures (TNFD) has published final sector guidance for four more sectors a day after announcing multi-year financial support from the Rockefeller Foundation.
The body has now released guidance for the apparel, accessories & footwear sector as well as for the beverages; construction materials; and engineering, construction & real estate sectors.
This brings to 13 the total number of sectors for which the TNFD provides guidance. Today it started a consultation on guidance for the fishing; marine transportation & cruise lines; and water utilities & services sectors.
TNFD will now be receiving “strategic, multi-year” grant funding from The Rockefeller Foundation, it announced yesterday.
The philanthropic organisation will join TNFD’s Stewardship Council, which represents the four founding partners of the TNFD and other government and philanthropic entities. Other funding partners of the TNFD on the Council include the Children’s’ Investment Fund Foundation, the Global Environment Facility, and the governments of Germany, Netherlands, Norway, Switzerland and Japan.
Maria Kozloski, senior vice president of innovative finance at The Rockefeller Foundation, said: “While most of the services that nature provides are not paid for, we are excited that the [TNFD] is advancing ways to understand how businesses use them and encourage business to assess and better manage their nature-related issues.”
The TNFD is in what it describes as its second phase of work, including further encouraging market adoption of the TNFD framework and developing a data pool about companies’ nature-related risks and opportunities.
The TNFD said that over 500 organisations from more than 50 jurisdictions are now using the TNFD recommendations as part of their annual sustainability reporting activities.
Earlier this month it announced that the Bank of China had joined the taskforce, the first Chinese financial institution to do so, and that it had launched consultation groups in the country.
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