As the potential risks associated with climate change and environmental degradation are better understood, companies are expected to provide information in their reports on how they are responding to these risks and opportunities. Therefore, the business sector must be able to provide a sufficient level of climate and environmental information to inform responsible investors in decision-making and capital allocation, ultimately supporting the transition to a low-carbon economy that is resilient to climate change and consistent with nature's limits.
Despite several developments, including TCFD recommendations, market evidence suggests that companies are still reporting climate-related information that lacks the necessary quality, cohesion, and comparability to be useful for decision-making. Regarding the disclosure of information on natural capital, although companies and their investors are already exposed to its financial impacts, it is still in its early stages. However, relevant work is beginning to develop under the framework of the Informal Working Group (IWG) of the new Taskforce on Nature-related Financial Disclosure (TNFD). IWG members are leveraging lessons learned from the TCFD and, in collaboration with the business sector, are defining reporting frameworks to help align their financial capital with nature-related commitments established under the post-2020 Convention on Biological Diversity, the Sustainable Development Goals, and the Paris Agreement.
As part of the National Environmental Congress of Spain (Conama), Climate Disclosure Standard Board (CDSB), in collaboration with the Natural Capital Factory, impartieron este taller online destinado a abordar los retos a los que se enfrentan las empresas y el sector financiero a la hora de proporcionar a los inversores información relacionada con el clima y la naturaleza.
Workshop participants:
- Deepened their understanding of how to improve the quality, comparability, and consistency of climate and environmental disclosures to aid in decision-making.
- Learned about tools that support alignment with TCFD recommendations and effective climate-related financial disclosure.
- Explored how to enhance their climate and environmental reporting under the EU NFRD and discussed challenges and trends within existing reporting.
- Improved their knowledge of integrating water-related information and financial impacts.
- Gained insights into best practices in climate and environmental reporting through case studies.
- Engaged with the work being developed by the IWG of the new Taskforce on Nature-related Financial Disclosure (TNFD).
