The Global Reporting Initiative (GRI) and the Taskforce on Nature-related Financial Disclosures (TNFD) have unveiled an interoperability mapping resource aimed at aligning TNFD Disclosure Recommendations with GRI Standards. This tool is designed to streamline sustainability reporting for businesses, according to ESG News. 

Over the last two years, GRI and TNFD have collaborated to develop this resource, which helps GRI’s 14,000 reporters align ` their disclosures with TNFD Recommendations. It also supports TNFD Adopters in utilizing GRI Standards for their sustainability reports. The resource includes a comprehensive guidance document and a correspondence table, ensuring a cohesive reporting process. 

One significant aspect of this mapping is the consistent use of nature-related concepts and definitions, such as the five drivers of biodiversity loss defined by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES). It integrates GRI’s materiality approach into the TNFD Recommendations, aligning with TNFD’s flexible materiality framework. 

Bastian Buck, Chief Standards Officer at GRI, stated, “The ongoing collaboration of GRI with the TNFD has resulted in this detailed mapping tool, supporting thousands of organizations worldwide that already report their biodiversity impacts using the GRI Standards. This resource enables them to seamlessly integrate the TNFD recommendations, allowing for simplified, single-source reporting.“ 

Esther An, Chief Sustainability Officer of City Developments Limited (CDL), highlighted the importance of robustly measuring and disclosing nature risks, stating, “Having adopted the GRI 304: Biodiversity (2016) since 2017 and as the first Singapore company to publish disclosures aligned with the TNFD Recommendations in 2024, CDL understands the importance of measuring and managing our nature-related dependencies, impacts, risks, and opportunities for long-term resilience.“ 

Tony Goldner, Executive Director of the TNFD, emphasized the practical support this mapping tool provides, saying, “The release of today’s mapping from GRI and the TNFD will further support market participants needing, or wanting, to report on their nature-related dependencies and impacts leveraging GRI Standards and metrics and in line with the TNFD Recommendations. We look forward to continuing to work with GRI to provide clear, practical support to market participants in their internal assessment and external reporting needs.“ 

In summary, the interoperability mapping tool underscores the alignment between TNFD and GRI, offering businesses a solid framework for comprehensive and consistent biodiversity reporting. Key benefits include reflecting all disclosures in GRI 101: Biodiversity 2024 within TNFD Recommendations, ensuring strong consistency between TNFD’s core global disclosure metrics and GRI Standards, and incorporating the TNFD LEAP approach in GRI 101 to guide organizations in reporting nature-related issues. 

Sources: 

https://fintech.global/2024/08/05/gri-and-tnfd-launch-tool-to-enhance-biodiversity-reporting/ 

https://www.climateaction.org/news/gri-and-tnfd-announce-new-mapping-resource-to-make-reporting-on-biodiversit