New guidance for nature-related impact reporting

Guidance from IEMA (Institute of Environmental Management & Assessment) aims to help small businesses to adapt to making nature-related disclosures.

Nature loss affects organisations in many ways, and one year on from the release of the Taskforce on Nature-related Financial Disclosures’ (TNFD) recommendations, more than 400 organisations – including 63 from the UK – have committed to begin reporting on nature-related issues.

The Taskforce on Nature-related Financial Disclosures is a global initiative that provides a framework for organisations to assess, report and act on their nature-related dependencies, impacts, risks and opportunities.

As the COP16 global biodiversity summit approaches, a new guidance document, Business Actions on TNFD: A primer on roles and reporting using the Taskforce on Nature-related Financial Disclosures Framework, is designed for those engaging with the Framework for the first time.

Produced by IEMA’s Biodiversity and Natural Capital Network, the paper is a beginner’s guide to roles and reporting, using the disclosure recommendations, and guidance on the TNFD framework.

It sets the scene for using TNFD, points to key policy and practical resources, takes the reader through business roles and IEMA membership levels, and considers how different sustainability professionals will engage with the framework.

The new paper explains the context of the TNFD, what it is about, and how it helps business, allowing them to be confident in using this new framework and start to effectively manage their nature-related risks.