The Global Reporting Initiative (GRI) and the Taskforce on Nature-related Financial Disclosures (TNFD) have launched a joint interoperability mapping resource that aligns the TNFD Disclosure Recommendations with GRI Standards. This collaboration aims to streamline ESG and sustainability reporting by providing a comprehensive guide for organizations to integrate nature-related financial disclosures with GRI’s established framework. 

Over the past two years, GRI and TNFD have worked closely to ensure their guidelines complement each other. This effort includes GRI’s input into the TNFD Recommendations released in September 2023 and TNFD’s contribution to the newly published GRI 101: Biodiversity 2024. The interoperability mapping provides a detailed correspondence table, helping the 14,000 organizations globally reporting through GRI to align with the TNFD framework and vice versa. 

The mapping highlights the strong alignment between TNFD’s nature-related concepts and GRI’s materiality approach. Both frameworks incorporate consistent definitions and metrics, such as the five direct drivers of biodiversity loss identified by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES). This consistency ensures that organizations can report on both impact and financial materiality without duplicating efforts. 

Bastian Buck, Chief Standards Officer at GRI, emphasized the importance of this collaboration, stating that the mapping tool simplifies the integration of TNFD recommendations into GRI-based reporting, thus preventing double reporting. Esther An, Chief Sustainability Officer of City Developments Limited, also welcomed the interoperability, highlighting its role in robustly measuring and managing nature-related risks. 

As the sustainability reporting landscape evolves, the partnership between GRI and TNFD represents a significant step towards harmonizing global standards, enabling organizations to transparently disclose their impacts on nature while adhering to both ESG and TNFD guidelines. 

Sources: 

https://www.accesswire.com/907540/easier-reporting-on-biodiversity-thanks-to-gri-and-tnfd 

https://www.google.com/url?rct=j&sa=t&url=https://menafn.com/1108602128/Easier-Reporting-On-Biodiversity-Thanks-To-GRI-And-TNFD&ct=ga&cd=CAEYASoUMTIzMTc5NDY3NDkwMDQ5MTUwMzYyGjg4NTYwMGVjY2NmZWY1NWU6Y29tOmVuOlVT&usg=AOvVaw0DDPrZunDO08mTQT2oJz-_ 

https://www.google.com/url?rct=j&sa=t&url=https://kalkinemedia.com/news/world-news/easier-reporting-on-biodiversity-thanks-to-gri-and-tnfd&ct=ga&cd=CAEYAyoUMTIzMTc5NDY3NDkwMDQ5MTUwMzYyGjg4NTYwMGVjY2NmZWY1NWU6Y29tOmVuOlVT&usg=AOvVaw1CjZRjRN__8I7bu8oXsFYl