Taking nature into account is now a strategic necessity for businesses and financial institutions. The World Economic Forum (WEF) points out that almost half the world’s GDP (44,000 billion dollars) depends on biodiversity, which is rapidly deteriorating. According to IPBES, the rate of species extinction is now 10 to 100 times higher than the average over the last 10 million years, marking a sixth mass extinction. This loss of biodiversity represents a major risk for human activities, and that is the reason why there is a need to develop a biodiversity strategy.
Why develop a biodiversity strategy ?
It is essential for economic players to understand their interactions with nature, both to reduce their negative impacts and to seize opportunities to create positive impacts. It also enables them to better manage the physical and transitional risks associated with the degradation of biodiversity.
The Taskforce on Nature-related Financial Disclosures (TNFD) has become the reference framework to help companies and financial institutions identify, assess, manage and disclose their dependencies, impacts, risks and opportunities related to nature.
How do you implement the TNFD ?
Implementing the NFFD can seem complex and time-consuming. AXA Climate and BL évolution have drawn up a practical guide to help economic players understand the objectives of the TNFD in four points :
1. Objectives of the TNFD
2. Methodology and associated tools
3. Illustration of each stage with a case study
4. Highlighting good practice
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