The Taskforce on Nature-related Financial Disclosures (TNFD) has released a second tranche of sector guidance to support the assessment, management and disclosure of nature-related issues by companies globally.
TNFD is a market-led, science-based taskforce of business and finance leaders providing companies and financial institutions with recommendations and guidance about how to incorporate nature beyond climate into their decision making.
Since its launch in 2021 with the support of the G20 economies, the TNFD has built a global movement of action among market participants. Over 1,600 organisations support the work of the TNFD, including over 500 organisations representing over USD 17 trillion in assets under management (AUM) now committed to reporting their nature-related issues aligned with the TNFD recommendations published in September 2023.
Following the release of draft guidance in June 2024 and extensive feedback and consultation with market participants since then, final sector guidance has been released for:
- Apparel, textiles & footwear
- Beverages
- Construction materials
- Engineering, construction & real estate
This brings the total number of sectors for which the TNFD provides guidance to 13.
The Taskforce has also released today draft guidance for consultation covering an additional three sectors:
- Draft sector guidance – Fishing
- Draft sector guidance – Marine transportation & cruise lines
- Draft sector guidance – Water utilities & services
These will be open for market feedback and consultation until 4 April 2025 via the TNFD website. Based on feedback received, the Taskforce plans to issue final sector guidance for fishing, marine transportation & cruise lines and water utilities & services in June 2025.
The total number of sectors for which the TNFD provides final and draft guidance now covers 50 per cent of the SICS® industries.
The TNFD’s sector guidance complements its core recommendations and LEAP assessment approach, published in September 2023. The sector guidance provides sector-specific considerations when following the TNFD’s LEAP approach for assessment of nature-related issues and recommended sector-specific disclosure metrics for companies reporting in line with the TNFD’s recommendations.
Over 500 organisations from more than 50 jurisdictions are now using the TNFD recommendations as part of their annual sustainability reporting activities.