The Taskforce on Nature-related Financial Disclosures (TNFD) has released four new sets of finalised sector guidance, as well as draft guidance for three further sectors. The second tranche of sector guidance covers the apparel, textiles and footwear, beverages, construction materials, and engineering, construction and real estate industries. The draft guidance for these sectors was released in June 2024 and saw “extensive” feedback and consultation with market participants, according to the TNFD. This brings the total number of sectors with final guidance from the TNFD to 13. The taskforce has also released draft guidance for consultation for three further sectors: fishing, marine transportation and cruise lines, and water utilities and services. The consultation will run until 4 April, with the TNFD intending to issue final guidance the three sectors in June. The TNFD is also currently consulting on draft guidance for nature transition planning for companies and financial institutions, which closes on 1 February. More than 500 organisations in more than 50 countries representing over US$17 trillion in AUM have committed to reporting their nature-related issues aligned with the TNFD recommendations. The TNFD has also obtained multi-year grant funding from philanthropic organisation The Rockefeller Foundation. The grant is part of the foundation’s wider effort to mobilise private sector resources for climate mitigation, adaptation and resilience, and to mainstream nature-based solutions. The Rockefeller Foundation will also join TNFD’s Stewardship Council. “This grant will help us maintain the momentum of our second phase of work, as we continue to encourage voluntary market adoption, build out our market capacity-building interventions and develop our roadmap for enhancing access to high-quality nature-related data,” said David Craig, Co-chair of the TNFD. Earlier this month, TNFD welcomed the Bank of China as the first Chinese financial institution to join the initiative and has convened new consultation groups in China and Hong Kong.
