At the UN Biodiversity Conference (COP 15), nations adopted the Kunming-Montreal Global Biodiversity Framework with a landmark commitment to conserve and manage at least 30% of the world’s lands, inland waters, coastal areas and oceans. This Framework requires governments to ensure that large companies disclose “their risks, dependencies and impacts on biodiversity.”
As such, there will be a much greater focus on how businesses report and manage their relationship with nature alongside climate action. ‘Nature positive’ is gaining traction, aligned with ‘net zero’, and the spotlight is firmly on the Taskforce on Nature-related Financial Disclosures (TNFD).
Identify risks to take positive action
Businesses need to get ready for TNFD and a shift towards a nature positive economy. TNFD is a “risk management and disclosure framework for organizations to report and act on evolving nature-related risks.” Businesses declare the risks they face and then develop and implement strategies for improvement in the elements most pertinent to them.
Nature-based solutions (NbS) meets tech
Forward thinking businesses are using technology to bring nature-related data points and trends into boardrooms, incorporating impacts and dependencies on nature into mainstream strategies. At AECOM, we’re pioneering this approach through a project in the Scottish Highlands with our Natural Capital Laboratory where we are rewilding 100 acres of forest to reintroduce lost species and developing our own natural capital accounting platform - EcoUplift – to enable straightforward sustainable decision-making.
Find out what TNFD is and why it matters.