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TNFD
Following the official launch of the Taskforce on Nature-related Financial Disclosures (TNFD) in June this year, the TNFD is pleased to announce the appointment of former Deloitte consulting partner and World Bank adviser, Mr. Tony Goldner, as Executive Director of its Secretariat. The TNFD Secretariat will be comprised of a globally distributed team hosted by the Green Finance Institute (GFI) and supported by the United Nations Development Programme (UNDP) and the United Nations Environment Programme Finance Initiative (UNEP FI).
The Secretariat team will report to the TNFD Co-chairs, David Craig, Former CEO and Founder of Refinitiv and Strategic Advisor to London Stock Exchange Group (LSEG) and Elizabeth Maruma Mrema, United Nations Assistant Secretary General and Executive Secretary of the UN Convention on Biological Diversity (CBD) Secretariat. The individual members of the Taskforce and the composition of the broader consultative network of supporting institutions, to be known as the TNFD Forum, will be announced later this month.
Furthermore, Agence Française de Développement (AFD) will lead and convene a ‘Development Finance Hub’, one of several research collaboration networks supporting the work of the Taskforce. The Hub will bring additional expertise to the TNFD and will convene and coordinate the global public development finance contribution to the TNFD in collaboration with Finance in Common, an initiative of the World Federation of Development Finance Institutions (WFDFI) and the International Development Finance Club (IDFC). It also offers to leverage the relationships that AFD and its network have developed with The Central Banks and Supervisors Network for Greening the Financial System (NGFS).
The TNFD is committed to engaging interested stakeholders, collecting, and collating knowledge and evidence, and ensuring inclusiveness and convergence across all geographies, sectors, and areas of expertise. A diverse and global network of individuals and institutions are coming together to support the efforts of the Taskforce to deliver, by 2023, a market-led framework for organisations to report and act on evolving nature-related risks in order to support a shift in global financial flows towards nature-positive outcomes.
Tony Goldner, Executive Director, TNFD Secretariat, had this to say as he took up his new role and portfolio: “It is a great honour to be leading the Secretariat of the TNFD. We have a hugely important and urgent task ahead to help financial institutions, corporates and service providers better evaluate risks derived from dependencies and impacts on nature. Our challenge is to develop a set of guidance materials that are robust in achieving more nature-positive outcomes whilst also practical to implement as a management decision making tool and a global market-led disclosure and reporting framework.”
Rhian-Mari Thomas, CEO of GFI, in turn, said: “I am pleased that the Green Finance Institute will continue to play our part through hosting the virtual Secretariat for this global market-led initiative, with support from the UN. With Tony Goldner’s leadership and GFI’s experience in managing outcomes-based stakeholder groups complemented by the UN’s global expertise and convening power, I am confident that we have the structure in place to support the Taskforce in meeting its important objectives.”
Remy Rioux, CEO of AFD, commented: “I am delighted that the global network of public development banks, through AFD, will be part of this important initiative. Development Finance has much experience to offer regarding the management of nature-related risk, and we look forward to contributing our collective experience with that from the private sector, through the TNFD, to seek better outcomes for nature tomorrow, than we have today.”
“Economic development can only be sustainable when our use of nature’s assets and services is within its regeneration capacities. Transparent and consistent reporting on nature dependencies and impacts is a first step on the path to a nature-positive global economy. Through its support to the Taskforce on Nature-Related Financial Disclosures, UNDP aims to facilitate a transition to economic sustainability that also reflects our commitment to equity and inclusion”, added UNDP Administrator, Achim Steiner.
