Some 320 companies are set to start making disclosures based on the Taskforce on Nature-related Financial Disclosures (TNFD)’s recommendations published last year.
The companies will start publishing TNFD disclosures as part of their annual reporting for 2023, 2024 or 2025.
Businesses to start TNFD reporting include Ikea, AstraZeneca, BBC, EY Global and Veolia.
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Ikea chief executive Jesper Brodin said the retailer sees nature problems as a “strategic business issue” and argues the guidance will allow for more “target positive action” from the company.
“Nature loss is one of the biggest challenges facing humanity, deeply connected with the climate crisis, and growing social inequality around the world,” Brodin added.
“Nature urgently needs attention and collaboration from us all, which is why we are delighted to become a TNFD early adopter,” he continued.
“We also know that our future relevance, success and resilience of our business is directly linked to how we address this now, in order to prepare for the future generations.”
TNFD co-chair David Craig added: “This is a milestone moment for nature finance and for corporate reporting.
“As climate-related sustainability reporting goes mainstream through the new International Sustainability Standards Board (ISSB) standards and regulation in a growing number of countries, this is a clear signal that investors, lenders, insurers and companies are recognising that their business models and portfolios are highly dependent on both nature and climate and need to be treated as both strategic risks and investment opportunities,” continued Craig.
