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You’ve probably never heard about TNFD: But it threatens to be the new frontier in corporate greenwashing
This blog was initially posted on the Global Forest Coalition website. Anyone who cares about protecting nature, biodiversity, and those who defend it ultimately has a stake in stopping the trillions of dollars that are driving nature destruction and human rights abuses. However, too often, it is assumed that rights holders on the frontlines of the nature crisis do not deserve an equal seat at the table in initiatives that claim to fix the problem. Below we answer five key questions about the Taskforce on Nature-related Financial Disclosures (TNFD) and outline why you should be concerned. Why is TNFD important? TNFD is a voluntary initiative but it will likely serve as a blueprint from which governments will draw in writing future business regulations. Like has happened with its sister initiative on climate, the Taskforce on Climate-related Financial Disclosures. If TNFD enables greenwashing, this will detract from the real solutions needed to curb the trillions of dollars in financing that are driving the nature and biodiversity crisis and the human rights abuses that often underpin it. What is the TNFD? Launched in 2021, TNFD is headed by a taskforce of 34 senior staff from global companies. The TNFD is led by business but endorsed by various actors on the international stage. TNFD is developing a framework that outlines what information a company or financial institution should self-report regarding how its relationship with nature and biodiversity has, or will,…