The Global Reporting Initiative (GRI) and the Taskforce on Nature-related Financial Disclosures (TNFD) have launched a new interoperability mapping tool designed to streamline biodiversity reporting for businesses. This tool aligns TNFD Disclosure Recommendations with GRI Standards, aiming to simplify the reporting process for the GRI’s 14,000 global reporters.
Aerial view of African biodiversity landscape. AI generated picture.
Over the past two years, the GRI and TNFD have worked together to create this resource, which includes a guidance document and a correspondence table. The tool is intended to help companies align their sustainability reporting with both frameworks, ensuring consistency in the use of nature-related concepts and definitions.
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Key features of the tool include the incorporation of the five drivers of biodiversity loss, as defined by IPBES (The Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services), and the inclusion of the GRI’s materiality approach within TNFD’s flexible reporting framework. This alignment allows businesses to report on their biodiversity impacts and dependencies in a more integrated manner.
Bastian Buck, Chief Standards Officer at the GRI, emphasised the tool’s role in supporting organisations already using GRI Standards to incorporate TNFD recommendations seamlessly. Similarly, Esther An, Chief Sustainability Officer of City Developments Limited, highlighted the importance of robust biodiversity reporting for long-term business resilience.
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Tony Goldner, Executive Director of the TNFD, noted that this mapping tool would further assist market participants in meeting their biodiversity reporting needs, leveraging both GRI Standards and TNFD metrics.
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