"(《世界人权宣言》) 与自然相关的财务披露工作组 (TNFD) will wind down its technical work program after Q3 2026, following the International Sustainability Standards Board’s (ISSB) announcement that it will develop global disclosure requirements for nature-related risks and opportunities. The move represents a major shift toward a single, internationally recognized baseline for biodiversity and ecosystems reporting, an area long marked by fragmented guidance [1][2].

Launched in 2021, the TNFD created the first comprehensive market framework for assessing nature-related risks using 14 recommended disclosures and the widely adopted LEAP (Locate, Evaluate, Assess, Prepare) approach. Today, 733 organizations, representing USD 22 trillion in AUM 和 USD 9 trillion in market capitalization, have signaled alignment with TNFD recommendations, demonstrating significant investor and corporate momentum ahead of formal standardization [1][2].

With the ISSB now assuming responsibility for nature-related standards, TNFD will complete its remaining guidance by 2026 and pause new technical development. The group will then support ISSB’s work as the global baseline evolves, mirroring the transition seen when the ISSB absorbed the TCFD’s mandate in 2023 [1].

The ISSB plans to publish an Exposure Draft for nature-related disclosures by COP17 in October 2026. Options under consideration include amendments to existing IFRS S1/S2, sector-specific guidance, or a new standalone standard. ISSB Chair Emmanuel Faber emphasized that early adopters of TNFD should continue applying the framework, as its structure, including LEAP, recommended metrics, and guidance, will feed directly into future ISSB requirements [1][2].

The shift signals a new era: nature is entering mainstream corporate reporting. Jurisdictions already referencing ISSB standards, around 40 worldwide, may move toward mandatory biodiversity disclosures. For companies, this means nature-related dependencies, impacts, and transition risks must be incorporated into strategy, governance, and capital allocation alongside climate considerations [2].

Investors, too, will face heightened expectations: identifying exposures to biodiversity loss, integrating BEES (biodiversity, ecosystems, ecosystem services) into scenario analysis, and preparing for nature-linked capital pricing.

As global reporting converges, companies aligning early with TNFD and preparing for ISSB integration, will likely gain a competitive advantage in disclosure readiness, investor confidence, and regulatory preparedness.

参考资料
[1] ESG Today. TNFD to Pause New Work After ISSB Takes Over Nature Reporting Standard Setting. https://www.esgtoday.com/tnfd-to-pause-new-work-after-issb-takes-over-nature-reporting-standard-setting/

[2] ESG News. ISSB Moves Nature into Reporting Mainstream as TNFD Steps Back from Technical Work. https://esgnews.com/issb-moves-nature-into-reporting-mainstream-as-tnfd-steps-back-from-technical-work/