We need to talk about biodiversity | Are Corporates Ready?

This roundtable webinar will examine whether companies are ready and well-positioned for reporting and disclosing on nature-related risks and opportunities. The webinar is focused on financial institutions as report users, but is also relevant for a corporate and an NGO audience. Based on recent publications from UNEP FI, UNEP-WCMC and WBCSD on corporate readiness for action towards nature, the discussion will focus on the current landscape for reporting and disclosure by corporates, in the context of the development of the Taskforce on Nature-Related Financial Risks (TNFD) disclosure framework. Nature loss poses risks for business now and in the future but tackling nature loss also presents considerable opportunities. Financial institutions and corporates are still missing information needed to understand how nature affects immediate financial performance, or the longer-term financial risks that may arise from the organisation’s interactions with nature. Better information will play a key role in allowing financial institutions and companies to incorporate nature-related risks and opportunities into their strategic planning, risk management and asset allocation decisions. Awareness of and action related to financial risks from nature loss have been growing in recent years and have led to the development of frameworks or standards that are expected to generate more systematic information on nature-related impacts and dependencies, and at scale. UNEP FI, UNEP-WCMC and WBCSD have carried out research on the readiness of corporates for such reporting and disclosure standards, in particular for the disclosure framework being developed by TNFD. They will discuss the results of their research with representatives from business and financial institutions, identifying the potential for uptake of future reporting and disclosure requirements.