Focus broadens from climate to nature-related disclosures

On the heels of the United Kingdomadopting new climate-related financial disclosures for a range of firms, aninternational taskforce has released a draft framework for nature-relatedrisks, opportunities and disclosures. The recommended nature-relateddisclosures will be able to capture risks and opportunities that the TCFDFramework does not capture, report Charlotte HillandJessicaHoward.

Charlotte Hillis a partner and head of the FinancialServices Regulatory group at Taylor Wessing in London, whereJessicaHowardis an associate. Contact them onc.hill@taylorwessing.comandj.howard@taylorwessing.com.

In the past decade, as the urgency of theclimate crisis becomes ever more pressing, the regulatory scene has been awashwith environmental initiatives, alliances, as well as legislation. Mostimportantly perhaps, as regards climate change, was the launch of the TaskForce on Climate-Related Financial Disclosures (TCFD), which published itsfinal recommendations on climate-related financial disclosures in June 2017 (TCFDFramework). [1]