A coalition of over 100 Brazilian businesses has partnered with impact data and analytics provider GIST Impact to accelerate the adoption of the Task Force on Nature-related Financial Disclosures (TNFD) recommendations.
The Brazilian Business Council for Sustainable Development (CEBDS), which brings together as many as 110 business groups in the country, aims to support its member companies in assessing and disclosing their impacts and dependencies on nature, the coalition said.
“CEBDS has worked for more than two decades to promote sustainable development, and our collaboration with GIST Impact aligns with this mission,” said Ricardo Mastroti, executive director of CEBDS.
“We are happy to be able to offer our member companies technological resources and solutions to accelerate the adoption of TNFD standards and ensure alignment with global frameworks and regulations.”
Companies will have access to GIST Impact’s database and assessment platforms which will enable them to bundle and analyse nature related data.
“As the country with the greatest biodiversity on the planet, Brazil has an important role to play in driving forward the global nature agenda,” said Pavan Sukhdev, CEO of GIST Impact.
“We aim to equip CEBDS member companies with the tools and insights necessary to measure and manage their environmental impacts while aligning with global standards, such as the TNFD.”
In September, the data provider announced a partnership with the Integrated Biodiversity Assessment Tool (IBAT) to help investors assess the biodiversity related risks in their portfolios through GIST Impact’s asset location database.
Under the TNFD, companies must disclose locations where biodiversity is being negatively impacted, both at the site level and across the supply and value chains.
Nathalie Borgeaud, TNFD lead of financial markets stakeholder engagement, recently urged financial institutions to rely on external data providers to gather information about their investees’ activities.
Nature-related disclosures are gathering momentum, as 320 companies worldwide – eight of them from Brazil – committed to adopting the TNFD recommendations within two years, the task force announced in mid-January at the World Economic Forum in Davos.
By Sergio Colombo – sergio@carbon-pulse.com
** Click here to sign up to our twice-weekly biodiversity newsletter **
