GRI and the Taskforce on Nature-related Financial Disclosures (TNFD) have published a joint interoperability mapping resource, which provides a detailed overview of alignment between the TNFD Disclosure Recommendations and metrics and the GRI Standards.
The biodiversity disclosure resource aims to help GRI’s 14,000 reporters globally align with the TNFD Recommendations and assist TNFD adopters in their sustainability reporting according to GRI Standards.
“This resource enables them to seamlessly integrate the TNFD recommendations, allowing for simplified, single-source reporting,” said Bastian Buck, Chief Standards Officer at GRI, adding that the GRI and the TNFD will continue to cooperate to prevent the need for double reporting.
The mapping highlights the alignment between the TNFD Recommendations and metrics and the GRI Standards reporting requirements and datapoints.
This includes the use of consistent nature-related concepts and definitions, including the five direct drivers of nature and biodiversity loss, as defined by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES).
GRI 101 uses the TNFD definitions and criteria when considering an organisation’s location in or near ecologically sensitive areas, while all the disclosures in GRI 101: Biodiversity 2024 are also reflected in the TNFD Recommendations.
Also highlighted is the reference and incorporation of GRI’s materiality approach, focusing on impacts in the TNFD Recommendations and guidance, following the TNFD’s flexible approach to materiality.
The TNFD LEAP approach has been designed to help organisations report in line with both impact and financial materiality, it was shared.
Esther An, Chief Sustainability Officer of City Developments Limited (CDL), TNFD Taskforce Member and GRI Supervisory Board Member, commented: “Nature risks are business risks that should be measured and disclosed in a more robust manner. 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.
“As we look towards adopting the new GRI 101: Biodiversity 2024 in our upcoming sustainability reports, we welcome the interoperability between TNFD and GRI to harmonize the global sustainability reporting landscape.”