Global Canopy announced as official TNFD piloting partner

New consultation efforts from the Taskforce on Nature-related Financial Disclosures (TNFD) include pilot programme partnerships with Global Canopy, UNEP-FI, WBCSD and FSD Africa, engagement of Indigenous and local communities, and country-specific National Consultation Groups.

TNFD’s announcement follows the release of the first prototype of the TNFD framework for nature-related risk management and disclosures in March. As a founding partner of the TNFD, Global Canopy played a central role in the initiative’s inception. Now as an official piloting partner, Global Canopy will help test the current and forthcoming beta versions of the TNFD framework with companies and financial institutions.

In addition to being a piloting partner, Global Canopy serves on the TNFD Stewardship Council and continues to provide support across TNFD working groups and operations.

First pilot testing underway

Global Canopy has already begun the first pilot of the initial beta version of the TNFD framework with a group of financial institutions and corporates operating in the palm oil sector. More pilots will follow over the coming year. Extensive pilot testing will help ensure the final framework, planned for release in Q3 2023, can be impactful and serve its intended purpose: helping organisations report and act on nature-related risks and opportunities in practice, and ultimately contribute to a shift in financial flows from nature-negative to nature-positive outcomes. TNFD is inviting pilot testing to continue until June 2023 across a range of sectors.

“We see deforestation and forests as an important entry point for organisations looking to tackle their impacts and dependencies on nature. This is why we’re undertaking our first TNFD pilot in the palm oil sector.”

Niki Mardas, Executive Director of Global Canopy

“As an official TNFD piloting partner, we will leverage our expertise across nature-related data and tools to ensure the TNFD framework serves nature, while being practical for companies and financial institutions across the globe to implement,” continues Mardas.

Today, TNFD also announces it will undertake consultations with Indigenous peoples and local communities in collaboration with IUCN, to ensure their knowledge and rights are represented in the final recommendations from the Taskforce. TNFD also launches six initial consultation groups across Australia & New Zealand, India, Japan, Netherlands, Switzerland, United Kingdom.

Engage with TNFD

Learn more about TNFD’s consultation efforts via TNFD.

Explore the first beta version of the TNFD framework.