The Taskforce on Nature-related Financial Disclosures (TNFD) has unveiled its final 14 recommendations on biodiversity risk management and disclosure, after two years of design and development in the making.
While not compulsory, the TNFD will now encourage and support voluntary market adoption of the recommendations launched today.
The organisation will track voluntary market adoption on an annual basis through an annual status update report beginning in 2024 and is expecting companies to announce their intention to adopt the recommendations as soon as possible.
Pharmaceutical company GSK announced it is committed to publishing their first TNFD disclosures from 2026, based on 2025 data.
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The final TNFD recommendations are science-based and voluntary, focusing on four pillars:
- Governance: The governance processes, controls and procedures the organisation uses to monitor and manage nature-related issues;
- Strategy: The approach the organisation uses to manage nature-related issues;
- Risk & Impact Management: The process used by the organisation to identify, assess, prioritise and monitor nature-related dependencies, impacts, risks and opportunities; and
- Metrics & Targets: The metrics and targets used to assess and manage material nature- related dependencies, impacts, risks and opportunities.
GSK chief financial officer Julie Brown commented: “Protecting nature makes our business more resilient and helps us deliver for patients by ensuring the supply of raw materials needed to manufacture vital medicines and vaccines.
“We have started to implement the TNFD methodology to better understand our nature-related risks and opportunities and are committed to publish our first TNFD disclosures from 2026, based on 2025 data,” Brown added.
