Business group standards aim to help firms account for nature-related risks

📆 19/9/2023 9:23 AM
📰 Reuters

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An international working group of 40 business and finance executives on Monday presented companies with guidelines on explaining to investors their dependence on ecosystems in a bid to better manage nature-related risks.

G20-backed set of global rules

Tony Goldner, executive director of the TNFD, said that while the risks of climate change have long been a focus of many companies, the wider state of nature is beginning to be looked at. "We are providing a toolbox," Goldner said. "Some companies have told us their estimations of their nature risk are larger than their climate risks."

The guidelines aim to get companies to report their nature risks in ways that mirror their financial and economic reporting that for decades have been part of regular corporate operations. Both the climate and nature frameworks urge companies to choose appropriate indicators to measure, monitor and report their risks."Take bush fire risk to Californian utilities ...

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