GRI and TNFD announce new mapping resource to make reporting on biodiversity straightforward
GRI and the TNFD publish a joint interoperability mapping resource that gives a detailed overview of alignment between the TNFD Disclosure Recommendations and metrics and the GRI Standards.
GRI and the TNFD publish a joint interoperability mapping resource that gives a detailed overview of alignment between the TNFD Disclosure Recommendations and metrics and the GRI Standards.
GRI and the Taskforce on Nature-related Financial Disclosures (TNFD) on the 30th of July published a joint interoperability mapping resource that gives a detailed overview of alignment between the TNFD Disclosure Recommendations and metrics and the GRI Standards.
The TNFD and GRI have worked closely together to support the development of each other's guidance – notably GRI input into the TNFD Recommendations published in September 2023, and TNFD input into the recently published GRI Biodiversity Standard.
Bastian Buck, Chief Standards Officer at GRI, said: “Nature risks are business risks that should be measured and disclosed in a more robust manner.”
The TNFD and GRI have developed a guidance document and correspondence table 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.
The mapping underscores the high level of alignment achieved between the TNFD Recommendations and metrics and the GRI Standards reporting requirements and datapoints, including:
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).
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.
All the disclosures in GRI 101: Biodiversity 2024 are reflected in the TNFD Recommendations. All of the TNFD Recommendations are reflected in the GRI Standards, except those exclusively covering nature-related risk and opportunity identification and assessment.
Strong consistency between the TNFD core global disclosure metrics and the related metrics in the GRI Standards.
The TNFD LEAP approach – guidance for identifying and assessing nature-related issues – is referenced in GRI 101.
GRI 101 uses the TNFD definitions and criteria when considering an organization’s location in or near ecologically sensitive areas.
The continuing collaboration of GRI with the TNFD has resulted in this detailed mapping tool, supporting thousands of organizations 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. GRI and the TNFD continue to cooperate to prevent the need for double reporting and ensure organisations can transparently and accountably disclose their impacts.
Esther An, Chief Sustainability Officer of City Developments Limited (CDL), TNFD Taskforce Member and GRI Supervisory Board Member, said: “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. “
Find out more here.
