Understanding nature-related risks and impact and how you can manage those risks and impact is the ambition of the Taskforce on Nature-related Financial Disclosures (TNFD). The TNFD is an international partnership of, among others, the United Nations and WWF that Rabobank has been a co-developing member of since its foundation in 2021. After two years of design and development, the group presented the framework of guidelines and sustainability recommendations to help organizations to work towards restoring nature. To mark the occasion, Diane Boogaard and Petra Mannessen from Rabobank recently opened Euronext alongside WWF and other representatives of the Dutch delegation.
Impact on nature
Rabobank has been a co-developing Taskforce member of the TNFD since its foundation in 2021. The TNFD is a joint initiative of parties including the United Nations and WWF is supported by about 40 Taskforce members from sixty countries around the world. The ultimate aim is to design and develop a set of recommendations for organisations to report and act on evolving nature-related issues, to inform better decision making by companies and capital providers, and ultimately contribute to a shift in global financial flows toward nature-positive outcomes.
“The launch of the TNFD framework comes at a good time,” says Diane Boogaard (Global Head of the Food System Transition and Head of Sustainability, Wholesale & Rural).
“Policymakers, regulators and international companies feel a collective need to reverse nature loss and protect and restore nature. Nature is no longer a corporate social responsibility (CSR) issue, but a strategic risk management issue that needs to be assessed and managed as such.”
Climate Week NYC
Marie-Claire Franzen-Aerts, Rabobank’s Nature Lead, attended the TNFD launch at Climate Week NYC. “It’s a milestone on the road to a resilient, nature-positive economy,” says Marie-Claire. “Our goal is to integrate TNFD’s recommendations into our corporate reporting. This will allow us to identify nature-related risks and the impact of our financing more effectively and drive sustainable food and energy chains.”
David Craig, Co-Chair of the TNFD, added:
“I’m delighted we are already starting to see companies and financial institutions announce their intention to prepare nature-related disclosures aligned with the TNFD Recommendations. We invite other early adopters to join them in signaling their intentions to start adopting and using the Recommendations.”
Biodiversity
Our biodiversity is under pressure across the globe. IPBES reports have shown that nature loss is accelerating which is having a major impact. Scaling up action to restore the resilience of nature is now a global policy and regulatory priority, and it is business-critical.
Marie-Claire Franzen-Aerts: “As a financier, we want to contribute to the protection and restoration of nature. Our sustainability policies guide the decisions we make as a bank. Another example is that we developed the Biodiversity Monitor together with WWF and FrieslandCampina, aå measuring instrument that supports farmers to take targeted green steps. We also participate in the Finance for Biodiversity Pledge in which banks and asset managers share knowledge and experiences.”
Future proof
The required sustainable change demands a lot from our clients and farmers in particular. As a financier and knowledge partner within the global F&A system, we want to support our clients in their transition to become future proof. “The Food System Transition team was set up specifically to guide companies and regions with that,” says Diane Boogaard. “’We provide sector knowledge, we support clients in establishing scalable business propositions and we provide international network coordination. The road ahead is clear: we need to collaborate with clients, members, partners and stakeholders to accelerate and overcome the challenges that our food system faces.”
