Like "love locks" that are affixed to fences, gates, and bridges around the world by couples to symbolize their love and commitment, what if we could dial in, and lock in a love and commitment for Nature? We can! At Davos in January, EcoAdvisors became a TNFD Early Adopter alongside 320 organizations who have committed to start making nature-related disclosures.
At EcoAdvisors, we have embarked on our TNFD journey and are keen to share our learnings as we go.
First off, what is a TNFD Early Adopter?
Sustainability is – and has always been – at the heart of EcoAdvisors. As a TNFD Early Adopter, we now can formally integrate nature into our financial and business decisions by following the TNFD Recommendations. These recommendations provide companies and financial institutions with a risk management and disclosure framework to identify, assess, respond to, and disclose their nature-related issues that align with the goals in the Global Biodiversity Framework.
Why did we choose to participate?
Because Nature matters – not only now but for future generations, and the future of humanity. Yes, the global economy is fully dependent on Nature, but it’s more than that. It’s personal. It’s reciprocal. It’s love.
When we talk about nature-related risks and opportunities in heartfelt, human-centric terms, we're talking about risks that will hurt the people and the things you love and opportunities that can help fulfill their wildest aspirations.
If we can connect to what people care about – their future and their loved ones in it – then maybe we can move at the speed and scale required for the sustainability transition. If we can remember to love the very thing that allows our existence – intact nature - then maybe we can reconcile our relationship with it.
What does being a TNFD Early Adopter entail?
It turns out, as a TNFD Early Adopter there are a few simple steps we have identified as requirements for claiming TNFD alignment. We must cover the following points in our next financial/company disclosure document:
1. Assess the 6 General Requirements spelled out by the TNFD Recommendations guide, which require us to describe:
Our application of materiality in our disclosure;
The scope of our disclosure;
The location of our nature-related issues;
Any integration of our TNFD disclosures with other business- and sustainability-related disclosures;
The time horizons we have considered in our disclosures; and
Our engagement process with Indigenous Peoples, Local Communities, and affected stakeholders on our nature-related issues.
2. Assess the Core Global Metrics which must be disclosed on a comply or explain basis. The first step is to assess which core global metrics apply to us, and which are currently out of our scope.
In addition to these requirements, there are 14 Recommended Disclosures to be considered, organized under the 4 pillars of Governance, Strategy, Risk and Impact Management, and Metrics and Targets. Though not required, we are beginning to assess which recommended disclosures apply to our work, and which we will need to work towards addressing in future reports.
As we navigate the year ahead, we look forward to diving in deeper and locking in our love for Nature... for our family, friends, and future generations.
Learn more about becoming a TNFD Adopter here.