The Taskforce on Nature-related Financial Disclosures (TNFD), at the World Economic Forum in Davos has formed a six national consultation groups including one in India which will be convened by Confederation of India Industries.

This is part of the strategy to expand outreach and engagement in markets where significant interest in the work of the Taskforce has already been established.

The other five consultation groups include Australia and New Zealand, Japan, Netherlands, Switzerland, and the United Kingdom. Additional Consultation Groups are expected to be announced in 2022 and 2023 based on demand and interest from market participants.

India Consultation Group

The India Consultation Group will be chaired by Koushik Chatterjee, CFO, Tata Steel, who is also part of a taskforce comprising 34 individuals representing financial institutions, businesses and market service providers, leading the efforts to develop TNFD’s nature-risk framework.

Chatterjee said it is important that corporates adopt the nuances and perspectives of nature-related risks and opportunities which forms an important element of the Sustainable Development Goals.

Thirty-four Taskforce Members with assets of over $18.3 trillion are working with the TNFD Co-Chairs to develop the TNFD framework.

The TNFD will deliver its framework in 2023, enabling organisations to report and act on evolving nature-related risks.

The TNFD initiative was brought together by four founding partners, Global Canopy, UNDP, UNEP FI, and WWF in September 2020. It is funded through the support of the UK, Australian, Swiss and Dutch Government, the UNDP, Global Environment Facility and the Children’s Investment Foundation Fund.

Related Topics