The Taskforce on Nature-related Financial Disclosures (TNFD) and the United Nations Sustainable Stock Exchanges Initiative (SSE) today released “Model Guidance on Nature-Related Financial Disclosures: A template for stock exchanges”. The announcement was made by Tony Goldner, CEO of TNFD, and Anthony Miller, Chief Coordinator for UN SSE, at Building Bridges in Geneva, Switzerland.
The model guidance provides a practical starting point for exchanges to support issuers in understanding and disclosing their nature-related issues. Serving as a foundation for exchanges to adapt to their local market context, it is designed to help issuers respond to growing demand from investors and companies for information on nature-related issues.
As investor demand for information and disclosure on nature-related dependencies, impacts, risks and opportunities increases, this guidance equips stock exchanges with a consistent, practical framework to help listed companies strengthen integration of nature into reporting practices. By aligning reporting practices, exchanges can reduce fragmentation and contribute to more stable, transparent markets.
Access the full model guidance here. TNFD and SSE will host an online webinar tomorrow to outline core aims of the guidance and highlight the market significance with panelists from Norges Bank Investment Management, London Stock Exchange Group, Robeco and Euronext. Register to attend here.
Anthony Miller, Chief Coordinator, UN SSE:
“The SSE is proud to have developed the new “Model Guidance on Nature-related Financial Disclosures” in partnership with the TNFD. This guidance offers stock exchanges and listed companies a practical toolkit to turn ambition into action. By aligning with the TNFD and other emerging global frameworks, it supports high-quality, decision-useful reporting that enables financial markets to better consider nature-related financial risks and opportunities. Clear and consistent disclosures can help direct capital toward investments that protect and restore nature, building resilience and long-term value for investors and markets.”
Herry Cho, Managing Director, Head of Sustainability and Sustainable Finance, SGX Group:
“SGX Group welcomes this new guidance as it gives exchanges a practical framework to help companies integrate nature-related risks and opportunities into their disclosures. Clear guidance of this kind is important to support market transparency and mobilise capital for sustainable development.”
Tony Goldner, CEO, TNFD:
“Stock exchanges play a crucial role in preparing their markets for developing and disclosing nature-related information. With investor demand for nature-related information only increasing, we hope this guidance will help stock exchanges support their issuers with understanding and integrating nature-related considerations beyond climate change into their capital allocation decisions.”
Camille Leca, Group Head of ESG & Sustainable Finance, Euronext:
“Nature-related risks and opportunities are increasingly central to sustainable finance. Clear, practical guidance such as the UN SSE and TNFD Model Guidance is invaluable for exchanges and issuers alike, helping to foster consistent, investor-grade disclosure and accelerate market engagement. Euronext welcomes this initiative and is committed to supporting capacity-building efforts that empower companies to integrate nature into their decision-making.”
ABOUT THE TASKFORCE ON NATURE-RELATED FINANCIAL DISCLOSURES (TNFD):
The Taskforce on Nature-related Financial Disclosures (TNFD) is comprised of 40 business and finance leaders from around the world and was launched in 2021 with the support of the G20. TNFD provides recommendations and guidance for market participants and other stakeholders about how nature beyond climate should be assessed, managed and reported. It has built a global movement of support and action, including over 500 organisations and 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. The TNFD recommendations build on the previous approach and recommendation of the Task Force on Climate-related Financial Disclosures (TCFD) and are aligned with the impact standards of the GRI, the European Union’s Corporate Sustainability Reporting Directive (CSRD) and the sustainability reporting standards of the International Sustainability Standards Board (ISSB).
ABOUT THE UN SUSTAINABLE STOCK EXCHANGES INITIATIVE:
The SSE initiative is a UN Partnership Programme organised by UNCTAD, the UN Global Compact, UNEP FI and the PRI. The SSE’s mission is to provide a global platform for exploring how exchanges, in collaboration with investors, companies (issuers), regulators, policy makers and relevant international organisations can enhance performace on enviornmental, social and corporate governance issues and encourage sustainable investment, including the financing of the UN Sustainable Development Goals. The SSE seeks to acheive this mission through an integrated programme of conducting evidence-based policy analysis, facilitating a network and forum for multi-stakeholder consensus building, and providing technical guidelines, advisory services and training.
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