Nature reporting update

The GRI Biodiversity standard is now available, TNFD has announced the list of early-adopters, and the UN has published a comparison of various nature-related standards and frameworks.

GRI Biodiversity standard

The GRI has published its Biodiversity Standard - GRI 101: Biodiversity 2024 sets a new bar for global transparency on biodiversity impacts. Now freely available for download, the Standard provides a helping hand to companies around the world in meeting growing demands from stakeholders to disclose their most significant biodiversity-related impacts.

In particular, GRI101 seeks to deliver:

  • Full transparency throughout the supply chain
  • Location-specific reporting on impacts
  • New disclosures on the direct drivers of biodiversity loss
  • Requirements for reporting impacts on people

The revised Standard builds on key developments in the field, including the United Nations Kunming-Montreal Global Biodiversity Framework, the Science Based Targets Network & the Taskforce on Nature-related Financial Disclosures (TNFD).

Read more and access the new Biodiversity Standard here

TNFD Early adopters revealed

At the Annual Meeting of the World Economic Forum in Davos, the Taskforce on Nature-related Financial Disclosures (TNFD) announced the inaugural list of TNFD Early Adopters that intend to start making disclosures aligned with the TNFD Recommendations in their corporate reporting by the financial year 2024 (or earlier) or 2025. There are Explore the full list of inaugural TNFD Early Adopters here.

UN Comparison of nature-related standards and frameworks

The UN have also issued a report comparing seven leading standards, frameworks and systems for private sector assessment and disclosure on nature-related issues:

  • CDP disclosure system 
  • European Sustainability Reporting Standards (ESRS) 
  • Global Reporting Initiative (GRI) Standards 
  • International Sustainability Standards Board (ISSB) Standards 
  • Natural Capital Protocol 
  • Science Based Targets Network (SBTN) target setting guidance 
  • Taskforce on Nature-related Financial Disclosures (TNFD) framework 

The report outlines key trends in assessment methodologies and disclosure requirements, highlighting several areas of increasing alignment across the approaches.

Learn more about the report findings here.

ISSB illustrative examples

The ISSB has also published new educational material to support the application of IFRS S1 and IFRS S2, with three examples illustrating reporting on risks and opportunities that are climate-related but that also consider nature or social issues.

Published 1 February, 2024