The Taskforce on Nature-related Financial Disclosures (TNFD) has published the first major updates to its recommended disclosures and LEAP assessment approach since their initial release in September 2023.
Announced at the conclusion of the PRI in Person conference in Amsterdam and ahead of the UN Biodiversity Conference (CBD COP17) in Yerevan, the Taskforce confirmed that 836 organisations across 57 countries have formally committed to reporting aligned with TNFD disclosures.
The adopting cohort includes financial institutions managing over $26 trillion in assets under management (AUM)—a 19 per cent increase year-on-year—and publicly listed companies representing $10.5 trillion in market capitalisation.
The release marks the completion of the TNFD’s technical guidance development work programme, with future focus shifting toward supporting global standard-setting bodies and driving market capacity building.
Key updates to the TNFD recommendations and LEAP v2.0 assessment framework include:
- Environmental crime guidance: Integrates dedicated guidance across Governance, Strategy, Risk Management, and Metrics pillars to address illegal wildlife trade and environmental crime risks, developed in partnership with United for Wildlife and the Royal United Services Institute (RUSI).
- Finalised state of nature & IAS metrics: Completes the global core metrics architecture by establishing standardized indicators for Invasive Alien Species (IAS) and state of nature assessments across land, freshwater, and ocean realms.
- Transition planning & SBTN interoperability: Enhances LEAP v2.0 with practical guidance on incorporating nature into corporate transition plans, evaluating portfolio risks for financial institutions, and aligning with Science Based Targets Network (SBTN) methods.
- Standard-setting support: Continues ongoing technical alignment with the International Sustainability Standards Board (ISSB) ahead of its upcoming nature-related exposure draft, the Global Reporting Initiative (GRI), and the International Organization for Standardization (ISO).
TNFD data reveals that artificial intelligence analysis of corporate reporting shows over 1,100 organisations globally are already issuing nature-related disclosures, averaging 8 out of the 14 TNFD recommendations.
The Taskforce noted that no further major technical updates to its central framework are planned, establishing a stable foundation for corporate and financial report preparers through 2027.
