In an effort to facilitate disclosure of issuers’ biodiversity risks, the Global Reporting Initiative (GRI) and the Taskforce on Nature-related Financial Disclosures (TNFD) issued joint guidance on Tuesday that spells out how their standards are aligned.
Citing demand from investors and other market participants, the standards setters developed joint guidance and a table that maps the connections between the GRI standards and TNFD recommendations to help issuers provide sustainability disclosure that conforms to both sets of standards.
The GRI and TNFD said the mapping “underscores the high level of alignment” between the two sets of standards.
“The ongoing collaboration of GRI with the TNFD has resulted in this detailed mapping tool, supporting thousands of organizations worldwide that already report their biodiversity impacts using the GRI standards,” said Bastian Buck, chief standards officer at GRI, in a release.
“This resource enables them to seamlessly integrate the TNFD recommendations, allowing for simplified, single-source reporting,” Buck said.
“We look forward to continuing to work with GRI to provide clear, practical support to market participants in their internal assessment and external reporting needs,” added Tony Goldner, executive director of the TNFD.