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Biodiversity Disclosures Set to Become Part of Company Reporting

Taskforce backed by French President Emmanuel Macron presses financial-services and other industries to more closely assess their nature-related risks.

Pollution accumulates near Guanabara Bay in Rio de Janeiro.
Pollution accumulates near Guanabara Bay in Rio de Janeiro. Photographer: Dado Galdieri/Bloomberg

A global initiative aimed at measuring the impact that financial institutions and corporations are having on the natural world, which received an endorsement from French President Emmanuel Macron, is officially underway.

The Taskforce on Nature-related Financial Disclosures will assist companies in assessing their “emerging nature-related risks and opportunities,” much like a similar initiative known as TCFD has helped increase corporate executives’ focus on climate change-related financial risks, according to a statement Friday from the group. Elizabeth Maruma Mrema, executive secretary of the United Nations Convention on Biological Diversity, will co-chair the TNFD with David Craig, founder of financial-data company Refinitiv who will become a senior adviser next month at London Stock Exchange Group Plc.