Impact Tip: Biodiversity
In this Impact Tip, we focus on Biodiversity.
The impact analysis of an organization always requires us to look at the effects of company activity on the environment, of which biodiversity and ecosystems form an integral part. In light of the ongoing UN Conference COP15 on Biodiversity, we wanted to share some insights while governments from around the world attempt to agree on a new set of goals for nature.
The impact on biodiversity is particularly tricky to evaluate, as there is a lack of standardized metrics since the impact on biodiversity may result from a number of converging issues that occur simultaneously. This is exactly what the Taskforce on Nature-related Financial Disclosures (TNFD) aims to do by introducing a framework by 2023 for organizations to report and act on nature-related risks. Building on the approach taken by the Task Force on Climate-related Financial Disclosures (TCFD), the TNFD is using consultation and pilot testing with market participants, combined with input from leading science and data bodies to create a disclosure framework for organizations to report and act on nature-related risks.
Watch and hear what our Senior Impact Analyst, Virginie Laplante, has to say on the subject and what is needed in order to navigate along this evolving space.
Impact Tip #4