Based on the recently released recommendations, the Taskforce on Nature-related Financial Disclosures (TNFD) announced a commitment by 320 companies and financial institutions to start nature-related corporate reporting.
The commitments, announced at the World Economic Forum’s (WEF) Annual Meeting in Davos, Switzerland, marks a significant move towards the establishment of standardized reporting on nature-related governance, strategy, risk management and targets, with companies signing on representing $4 trillion in market capitalization, and also including more than 100 financial institutions across banks and insurers as well as asset owners and managers representing $14 trillion.
Each of the companies have pledged to begin providing TNFD-aligned disclosures as part of their annual corporate reporting for either the 2023, 2024 or 2025 fiscal years.
Asset managers joining the commitment included Norges Bank Investment Management (NBIM), the investment manager for Norway’s $1.4 trillion oil fund.
This information is shared by ESG today.
