Johan Florén, head of ESG and communications at Sweden’s AP7, is among the 30 individuals who have been named members of the Taskforce on Nature-related Financial Disclosures (TNFD).

Led by the TNFD co-chairs, the members of the taskforce will convene for the first time next week. The co-chairs were announced in the summer, when the taskforce was said to have officially launched.

At the time, it said the proposal was for the TNFD framework to follow the same structure used by the Task Force on Climate-related Financial Disclosures (TCFD), but to incorporate a broader definition of the term ‘risks and opportunities’.

Florén is one of 14 taskforce members from the financial services sector, with senior executives from corporates and services providers also on board.

”We think TNFD is spot on for AP7, as we try to focus on the most urgent problems from a systemic perspective and the loss of biodiversity and natural capital is certainly one of them,” he told IPE.

”A main strategy we have for these problems is to develop international standards and norms in close cooperation with other universal owners and similar types of investors,” he added.

The TNFD said the members represented sectors ”with the largest impact and dependencies on nature” and were globally representative. Up to five further members could be appointed to broaden geographic and sector coverage as well as diversity of expertise. Selection is underway.

The TNFD today also announced the launch of a global multi-disciplinary consultative forum comprising more than 100 organisations who have expressed the willingness to make themselves available to contribute to the work of the taskforce. The UK’s Environment Agency Pension Fund is one of these organisations.

The TNFD is working towards having a draft beta version of a disclosure framework ready by early 2022 “to be tested and refined via an open-innovation approach” throughout next year.

The finalised framework is earmarked for release in late 2023.

Looking for IPE’s latest magazine? Read the digital edition here.