Her Excellency Razan Khalifa Al Mubarak, President of the International Union for Conservation of Nature (IUCN) and UAE Climate Champion for COP28, has been appointed Co-Chair of the Taskforce on Nature-Related Financial Disclosures (TNFD). She will work alongside David Craig, founder and CEO of Refinitiv, replacing Elizabeth Maruma Mrema, who stepped down due to increased UN responsibilities. 

Launched in June 2021 with support from the G20 Sustainable Finance Working Group, the TNFD aims to provide guidance for businesses and finance to report on nature-related dependencies, impacts, risks, and opportunities. Following the release of its corporate reporting recommendations in September 2023, TNFD is now promoting voluntary market adoption and addressing the data needs of market participants. 

Razan Al Mubarak, the first woman from West Asia to lead the IUCN, will help integrate TNFD recommendations into global corporate reporting. Her leadership will emphasize the interconnectedness of climate change and nature loss, advocating for a holistic approach to practical action on climate change. 

Al Mubarak stated, “I am honored to be stepping into the role of Co-Chair of the TNFD at this critical juncture. COP28 highlighted that climate change and nature loss are inextricably linked. We can’t get to net zero without nature. Businesses and financial institutions must start managing their interface with nature as their most important supply chain and value creation partner.” 

David Craig welcomed Al Mubarak, expressing confidence in her ability to lead TNFD in aligning with global reporting standards and addressing accelerating nature loss. This appointment underscores the growing importance of integrating ESG considerations, particularly nature-related financial disclosures, in the global business and finance sectors. 

Sources: 

https://climatechampions.unfccc.int/tnfd-appoints-razan-as-co-chair/ 

https://wam.ae/article/b3uyww6-razan-mubarak-appointed-co-chair-global-taskforce