TNFD adopters list grows to 500+ as more firms commit to nature reporting

More than 500 organisations and investors representing US$17.7 trillion have now committed to publishing nature-related disclosures through TNFD.

This is a 57% increase since the first 320 adopters signed up to TNFD in January 2024, and marks a growing drive to measure and report corporate impacts on biodiversity and natural ecosystems – as evidenced by the recent increase in CDP biodiversity disclosures.

“The speed of voluntary market adoption over the past year since the release of the TNFD recommendations highlights the growing appreciation among companies and financial institutions across sectors and geographies that nature is a material risk issue for their business and a new source of opportunity and potential competitive advantage,” said David Craig, Co-Chair of the TNFD. 

“We have seen significant uptake across sectors – in particular from asset managers, as they address climate and nature risk in their portfolios. Going forward, the growth in these assessments and public disclosures is helping direct financial flows towards more resilient business models and nature-positive outcomes,” he added.

The Taskforce on Nature-related Financial Disclosures (TNFD), which released its recommendations on how to disclose this type of information to investors in September 2023, announced the growth in adopters on 25 October during the COP16 summit in Colombia.

The disclosure framework is aligned to the goals and targets of the Global Biodiversity Framework (GBF) and “operationalises the specific requirements of Target 15 of the GBF”, which calls on governments to encourage businesses to assess and transparently disclose their nature-related dependencies, impacts and risks. 

New TNFD adopters: abrdn, KPMG, Qantas and more

The 502 companies and financial institutions are based in jurisdictions (including 25 developing economies) and 62 sectors. Publicly-listed firms in the group represent over US$6.5 trillion in market capitalisation.

Within this number are 129 financial institutions representing USD 17.7 trillion in assets under management – an 11% increase from the latest adoption update in June – including 25% of the world’s systemically important banks (GSIBs).

Financial institution abdrn, consultancy KPMG, mining firm Freeport-McMoRan, Australian airline Qantas, food retailers Morrisons and Sainsbury’s, electronics companies Mitsubishi Electric Corp and Philips, electric utilities EDP, Electrobras and Tokyo Electric Power, as well as computer hardware company Logitech International form part of the latest wave of TNFD adopters.

This means they will start publishing TNFD-aligned disclosures as part of their annual corporate reporting in the next two years.

Sarah Moody, Chief Corporate Affairs and Sustainability Officer at abrdn, said: “At abrdn, the environmental transition – the interconnecting relationship between climate and nature – is a key pillar of our sustainability strategy. Becoming a TNFD Adopter is a vital step on our sustainability journey. Alongside this, we are developing an engagement approach within our investments team focused on the companies with the most material exposure to nature and are seeking the best approaches to data gathering on nature-related impacts.”