TNFD and GRI collaborate on mapping document and guidelines
April 17th, 2024
The Global Reporting Initiative (GRI) and the Taskforce on Nature-related Financial Disclosures (TNFD) are once again joining together to offer guidance for companies on corporate reporting standards.
The two organisations have announced plans to publish further implementation and capability building support for members, including a TNFD-GRI interoperability mapping document.
The document is set to be published in Q2 2024, providing a detailed overview of alignment between the TNFD disclosure recommendations and metrics and the GRI Standards.
The pair will also publish joint case studies and guidelines on the links between nature related dependencies, impacts, risks and opportunities.
These guidelines will support the use of the TNFD’s LEAP assessment, which already incorporates the approaches to materiality guidance from GRI and the International Financial Reporting Standards (IFRS).
The TNFD and GRI have worked closely together over the past two years on their respective reporting standards.
The TNFD published its final recommendations for nature-related risk management and disclosure in September 2023, which were developed in line with the impact materiality approach used by the GRI.
Similarly, the TNFD input into the recently published GRI 101: Biodiversity 2024 standard, which was updated to align with the TNFD Recommendations.
Eelco van der Enden, CEO of GRI, said: “This further collaboration between GRI and TNFD is significant because it comes at time of increased demands from regulators, investors and other stakeholders for companies to demonstrate transparency for their impacts on nature and biodiversity as well as related risks and opportunities.”
In September, GRI also confirmed the interoperability of its standards with the European Sustainability Reporting Standards (ESRS), developed by the European Financial Reporting Advisory Group (EFRAG).
Last Updated: 17 April 2024