A group of NGOs said Thursday they have filed a complaint to the UN Environmental Programme (UNEP), arguing that its backing of the Taskforce on Nature-related Financial Disclosures (TNFD) has undermined environmental stewards and rights holders.
The group, which includes organisations such as the Rainforest Action Network (RAN), the Third World Network, and the Forest & Finance coalition, claimed that the UN agency, a co-founder of TNFD, breached its own policies in its support of the taskforce.
The complaint, announced during the COP16 UN biodiversity summit underway in Cali, Colombia, outlined 11 key allegations, including claims that UNEP sidelined environmental stewards during consultations and failed to ensure transparency regarding the appointment of TNFD members.
Contacted by Carbon Pulse, UNEP declined to comment.
“People see the UN stamp and assume its initiatives uphold human rights, Indigenous rights, and gender equity – which, sadly, the TNFD does not,” Shona Hawkes, senior advisor to RAN, told Carbon Pulse on the sidelines of the summit.
The NGOs also accused UNEP of infringing on the basic principles of fair governance by supporting a taskforce solely comprised of corporate executives.
The TNFD decision-making body consists of 40 members from financial institutions, corporates, and market service providers who have developed recommendations for businesses to disclose how biodiversity issues impact their profitability.
According to the TNFD, members are selected for their individual subject-matter expertise across nature and finance and their sector, and geographical coverage.
“While all of the 40 taskforce members are drawn from the private sector … the TNFD has engaged extensively with all stakeholders through its processes for developing its recommendations and guidance,” Tony Goldner, co-chair of TNFD, told Carbon Pulse.
“That process was open to all stakeholders, not just TNFD forum member organisations as claimed, and the taskforce received considerable feedback from civil society organisations.”
LACK OF DUE DILIGENCE
As well, the complaint said UNEP allegedly failed to carry out basic due diligence and does not appear to have required any environmental or human rights screening by the TNFD for its taskforce members.
“UNEP should be championing Indigenous Peoples, women, and local communities’ solutions to the biodiversity crisis – not helping bad actors rebrand as nature leaders,” Hawkes said.
Goldner replied to the accusations arguing that TNFD worked closely with native communities, including through convening a dialogue process with the International Indigenous Forum for Biodiversity (IIFB) which extended over 18 months and involved over 30 Indigenous leaders.
“Collectively, their input into the TNFD’s global consultation and design process meaningfully shaped the final disclosure recommendations … including the Governance C disclosure, on engagement with Indigenous Peoples, local communities, and affected stakeholders,” he said.
In light of the accusations, Hawkes urged the UN agency to immediately suspend its TNFD activities while the complaint is investigated.
“We want to understand how UNEP strayed so far from its core mission,” she said.
“We also want UNEP to acknowledge that, for years, many organisations have warned about TNFD’s greenwashing risks.”
TNFD is among the most influential voluntary biodiversity reporting initiatives, with over 400 organisations – representing a combined $6 trillion in market capitalisation – already committed to aligning disclosures with its recommendations.
The taskforce is set to announce its next cohort of adopters on Friday during the COP16 summit.
By Sergio Colombo in Cali – sergio@carbon-pulse.com
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