![]() Biodiversity loss is also now recognised by the world’s central banks as a source of systemic risk alongside climate change. ![]() ![]() Governments are now recognising the value of nature, with over 190 states committing to a set of ambitious goals and targets under the Global Biodiversity Framework ( GBF) in December 2022 and the Australian Federal Government committing to delivering environmental economic accounts to Parliament as part of reforms to national environmental law. Corporations across multiple sectors of the economy are not currently considering how their supply chains, operations and enterprise values depend on, and impact, nature. The TNFD arose out of an urgent need to recognise that nature underpins the global economy, and that our economies are embedded within nature, not external to it. Consultation is open until 1 June 2023, with the final version due to be released in September 2023. For the first time, market participants can see the full framework, including examples of guidance by sector and biome as well as further details of how TNFD will align with the disclosure framework under the Taskforce on Climate Related Financial Disclosure ( TCFD) including reporting of direct and indirect nature related impacts (including financing) along the value chain. The fourth and final version of the Taskforce on Nature-based Financial Disclosure ( TNFD) beta framework has been released.
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