Rockefeller Foundation Invests in TNFD’s Efforts To Scale Adoption of Nature-Related Disclosure

$500,000 grant will enable TNFD to establish market practices for corporate reporting of nature-related risks

DAVOS, SWITZERLAND | January 22, 2025 ― Today, at the 55^th Annual Meeting of the World Economic Forum, The Rockefeller Foundation announces $500,000 in grant funding to the Taskforce on Nature-related Financial Disclosures (TNFD), a market-led, science-based global initiative focused on providing organizations with the tools to act on evolving nature-related issues. The new funding will allow TNFD to build on its global effort to drive voluntary adoption of its recommendations and bring nature unequivocally into the risk register, the balance sheet and the capital allocation decision making of companies and financial institutions. This collaboration with TNFD is a part of The Rockefeller Foundation’s broader mission to drive accountability and integrity of climate and nature-based solutions while boosting capital flows to underinvested areas.

“Because nature-related risks and opportunities affect most of the global economy, it is critical to incorporate natural capital considerations into decision making across the private and public sectors,” said Maria Kozloski, Senior Vice President of Innovative Finance at The Rockefeller Foundation. “We are excited to support the Taskforce on Nature-related Financial Disclosures in advancing a globally coordinated framework on nature-related dependencies, impacts, risks, and opportunities.”

The World Economic Forum ranks biodiversity loss as the third largest global risk over the next ten years. In addition, approximately 1 million species are currently facing extinction within decades, and ecosystems have also declined in size by an average of 47% globally compared to estimated natural baselines, according to the United Nations. Nature-based solutions are estimated to provide 37% of climate change mitigation needed by 2030.

To date, TNFD has developed a risk management and disclosure framework, generated buy-in through a public consultation period and onboarded 500+ corporates and financial institutions from 50+ jurisdictions to commit to disclosure their material nature-related issues aligned with the TNFD recommendations.

“The TNFD’s work underscores a fundamental shift toward recognizing nature as essential to the health and resilience of our economies, communities and ecosystems,” said David Craig, Co-Chair of TNFD. “With financial support from key partners like The Rockefeller Foundation, we are helping businesses and financial institutions account for and safeguard natural capital, advancing a global transition to resilient, nature-positive systems that benefit communities and businesses alike.”

TNFD is modelled on the Task Force on Climate-related Financial Disclosures (TCFD), which created a framework for disclosure of climate-related risks and opportunities that has been incorporated into IFRS S2 of the International Sustainability Standards Board (ISSB), which formed in 2021 to develop a global baseline of sustainability reporting standards.

About Taskforce on Nature-related Financial Disclosures (TNFD)

The Taskforce on Nature-related Financial Disclosures (TNFD) is a market-led, science-based taskforce of business and finance leaders providing companies and financial institutions with recommendations and guidance about how to incorporate nature beyond climate into their decision making. The TNFD recommendations build on the approach and recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), are consistent with market disclosure standards developed by the International Sustainability Standards Board (ISSB) and Global Reporting Initiative (GRI) and play an important role in enabling private sector contributions to the goals and targets of the Kunming-Montreal Global Biodiversity Framework. Through better informed decision making around governance, strategy, risk management and capital allocation, the TNFD contributes to the global goal of shifting the flow of capital away from nature-negative outcomes and towards nature-positive outcomes for the planet and society. Since its launch in 2021 with the support of the G20 economies, the TNFD has built a global movement of action among market participants. Over 1,600 organizations support the work of the TNFD, including over 500 organizations representing over USD 17 trillion in assets under management (AUM) now committed to reporting their nature-related issues aligned with the TNFD recommendations published in September 2023.

About The Rockefeller Foundation

The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We make big bets to promote the well-being of humanity. Today, we are focused on advancing human opportunity and reversing the climate crisis by transforming systems in food, health, energy, and finance. For more information, sign up for our newsletter at www.rockefellerfoundation.org/subscribe and follow us on X @RockefellerFdn and LI @the-rockefeller-foundation.