GRI and TNFD publish interoperability guidance for nature disclosures

The Global Reporting Initiative (GRI) and Task force on Nature-Related Financial Disclosures (TNFD) have published interoperability guidance to help companies streamline their biodiversity reporting.

The interoperability mapping resource provides a detailed overview of alignment between the GRI standards and the TNFD recommendations for nature and biodiversity-related disclosures. 

The two organisations note that their rules present “a high level of alignment”, particularly on nature-related concepts and definitions, the drivers of biodiversity loss, materiality impact assessments and biodiversity disclosures, with all the data points required in GRI 101: Biodiversity 2024 reflected in the TNFD recommendations.

The new guidance follows a similar mapping exercise between TNFD and the European Sustainability Reporting Standards (ESRS) – the guidelines governing CSRD reporting – which also found “very good alignment” last May.

Preventing the need for double reporting

Bastian Buck, Chief Standards Officer at GRI, said: “The ongoing collaboration of GRI with the TNFD has resulted in this detailed mapping tool, supporting thousands of organisations worldwide that already report their biodiversity impacts using the GRI Standards. This resource enables them to seamlessly integrate the TNFD recommendations, allowing for simplified, single-source reporting. GRI and the TNFD will continue to cooperate to prevent the need for double reporting and ensure organisations can transparently and accountably disclose their impacts.”

Today’s release was welcomed by Esther An, Chief Sustainability Officer at Singapore real estate company City Developments Limited (CDL), who is also a TNFD Taskforce Member and GRI Supervisory Board Member. 

“CDL understands the importance of measuring and managing our nature-related dependencies, impacts, risks and opportunities for long-term resilience. As we look towards adopting the new GRI 101: Biodiversity 2024 in our upcoming sustainability reports, we welcome the interoperability between TNFD and GRI to harmonise the global sustainability reporting landscape,” she commented.

TNFD recommendations have already been adopted by nearly 400 companies looking to better assess and quantify their impacts on nature and biodiversity.

Read also: Time for Chief Sustainability Officers to ‘get started’ on nature disclosures