The Taskforce on Nature-related Financial Disclosures (TNFD) will release a set of recommendations for upgrading market access to decision-useful nature data at COP30 this year following a programme of market consultations and pilot testing that begins this month.
This new phase of work on nature-related data challenges led by TNFD and involving a wide range of partner organisations across the nature data value chain follows the release of a discussion paper at COP16 last year and a workshop held last month with global leaders in nature data at Kew Gardens, London. It will include pilot testing to inform further technical design specifications for a possible Nature Data Public Facility (NDPF) first proposed by the TNFD in 2023.
In conjunction with UNDP and support from the German Government International Climate Initiative (IKI), the TNFD is also launching a grand challenge to foster new technology solutions to enable small to medium-sized enterprises (SMEs) globally to undertake a rapid assessment of their nature-related issues.
Nature data value chain recommendations and pilot testing
Following positive market feedback to its Roadmap for Upgrading Market Access to Decision-useful Nature Data released at COP16 in Colombia in late 2024, the TNFD’s new phase of pilot testing will run until October 2025 and involve a wide range of implementation partners as well as a diverse group of over 40 upstream nature data providers and more than 20 downstream nature data users and market intermediaries across markets and sectors.
The pilot programme will:
- Test and refine a set of nature-data principles that should define the future quality and ‘fitness for purpose’ for nature data;
- Test the quality of a representative sample of nature-related data sets and sources aligned with three market use cases – nature-related corporate reporting, target setting and transition planning;
- Help to identify priority nature-data gaps in need of long-term funding to address coverage, quality and accessibility challenges; and
- Refine and articulate the needs of downstream market users of nature-related data, through user experience testing of the proposed Nature Data Public Facility (NDPF). This will result in a set of design specifications for the proposed NDPF.
TNFD has assembled a team of global implementation partners for this phase of work, including UNEP-WCMC, Icebreaker One, EY, Esri, Addleshaw Goddard, the Open Geospatial Consortium (OGC), IUCN, Global Canopy, Capitals Coalition, the Group on Earth Observations Secretariat (GEOS), the Global Biodiversity Information Facility (GBIF), the Future of Sustainable Data Alliance (FoSDA) and WWF.
A Grand Challenge to spark new technology solutions for nature-related assessment by SMEs
Every business across every sector has impacts and dependencies on nature that may create material risks and opportunities to their business, to their value chain partners and for society as a whole. It is vital for the future resilience of their own business that every company understand and assess its nature-related issues, irrespective of size and any external reporting requirements they may have.
The TNFD believes that new technology tools, include AI, can potentially transform the ability for SMEs to build this understanding of nature’s relevance to their business at minimal cost and without the in-house knowledge or expertise that might be expected of larger companies and financial institutions. Building on the widespread market uptake of its LEAP assessment approach, and in conjunction with UNDP and the Government of Germany’s International Climate Initiative (IKI), the TNFD is launching a Grand Challenge to spark technology-enabled assessment tools to support SMEs. Managed by Conservation X Labs, tech start-ups and entrepreneurs around the world will be invited to participate in the challenge, with a shortlist of the best solutions to be showcased at COP30 in Brazil in November.
Stewart Maginnis, Deputy Director General, IUCN:
“IUCN is delighted to partner with TNFD in its pilot testing programme on how to provide the private sector with ready access to the most credible, nature-related data. IUCN has a long history of providing high-quality conservation knowledge, tools and analytics to guide both public and private interventions for the protection and restoration of species and ecosystems. We are therefore excited to be a partner in establishing nature data principles that will facilitate easier access to critical data, thereby contributing to impactful decision-making while ensuring necessary resources are secured for the generation, maintenance and strengthening of conservation knowledge.”
Yana Gevorgyan, Director, GEO Secretariat:
“Access to the right nature data, in the right format and at the right time, is essential for businesses and financial institutions seeking to assess and manage their nature-related dependencies, impacts, risks, and opportunities. Through initiatives like the Global Ecosystems Atlas, we provide spatial data on the state of all the world’s ecosystems – a foundational input for valuing nature and informing decisions. Collaboration across the nature data value chain is essential, and we are proud to support the TNFD’s pilot and broader efforts to make nature-related data more accessible, actionable, and aligned with user needs.”
Peter Rabley, CEO, Open Geospatial Consortium:
“At OGC, we believe that unlocking the full value of nature-related data requires a shared foundation—common data principles, agreed standards, and deep collaboration across sectors. As the complexity and urgency of global environmental challenges increase, we see a growing need for interoperable, trustworthy data that supports better decisions at every level. We’re proud to partner with TNFD in this important work, and we remain committed to advancing open, standards-based approaches that help nature data flow more effectively—across technologies, geographies, and institutions.”
Maxim Vergeichik, Team Lead on Private Sector Engagement, UNDP Nature Hub:
“Unlocking the full potential of the assessment of nature-related issues requires inclusive and affordable solutions. Artificial intelligence can help small and medium-sized enterprises to take action on their dependencies and impacts on nature as well as risks to their own business operations at low cost and without excessive in-house expertise. Our partnership with TNFD in this area opens up access to nature action by enterprises and communities in emerging markets. Through partnerships like this, we are building a foundation for competitive and resilient economies.”
Paul Bunje, President and Co-Founder, Conservation X Labs:
“Open innovation enables us to source transformative ideas from anywhere in the world—engineers in Nairobi, coders in Bangalore, conservationists in Manaus—bringing forward solutions that are as diverse and dynamic as the ecosystems we seek to protect. The TNFD has already embraced the power of open innovation to develop its LEAP assessment approach and we look forward to partnering with them to make those assessment tools accessible for SMEs around the world – for the good of their own business and for the good of the planet”
ABOUT THE TASKFORCE ON NATURE-RELATED FINANCIAL DISCLOSURES (TNFD)
The Taskforce on Nature-related Financial Disclosures (TNFD) is comprised of 40 business and finance leaders from around the world and was launched in 2021 with the support of the G20. TNFD provides recommendations and guidance for market participants and other stakeholders about how nature beyond climate should be assessed, managed and reported. It has built a global movement of support and action, including over 500 organisations and over USD 17 trillion in assets under management (AUM) now committed to reporting their nature-related issues aligned with the TNFD recommendations published in September 2023. The TNFD recommendations build on the previous approach and recommendation of the Task Force on Climate-related Financial Disclosures (TCFD) and are aligned with the impact standards of the GRI, the European Union’s Corporate Sustainability Reporting Directive (CSRD) and the sustainability reporting standards of the International Sustainability Standards Board (ISSB).
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