TNFD Issues Sector-specific Guidance to Enhance Nature-related Disclosures

On July 3, 2024, the Taskforce on Nature-related Financial Disclosures (TNFD) issued its first set of additional sector-specific guidance. This includes recommended metrics for disclosure that align with the TNFD's recommendations from September 2023. The guidance pertains to the following eight real economy sectors:

·       Metals and mining

·       Electric utilities and power generators

·       Chemicals

·       Food and agriculture

·       Oil and gas

·       Forestry, pulp and paper

·       Aquaculture

·       Biotechnology and pharmaceuticals

 Additionally, the TNFD released more guidance for financial institutions and value chains. The guidance for financial institutions provides recommended disclosures and metrics for banks, (re)insurance companies, asset managers and asset owners and development finance institutions. The value chain guidance offers a framework for organizations to analyze their upstream and downstream value chains.

Drafts for guidance documents directed at other sectors (Fishing, Engineering, construction and real estate, Construction materials, Beverages and Apparel, accessories and footwear) are open for consultation until September 27, 2024.