The Taskforce on Nature-related Financial Disclosures (TNFD) today released additional ocean-related sector guidance for the fishing and the marine transportation and cruise lines industries. The release of these new sector guides coincides with policy discussions at the Blue Economy & Finance Forum (BEFF) in Monaco and UN Ocean Conference (UNOC3) in Nice, over the coming week.

The package includes:

Final sector guidance for the fishing and marine transportation and cruise lines industries
A discussion paper on measurement of ocean-related issues

New sector guidance

The assessment and disclosure of ocean-related issues is essential to the resilience of marine-based businesses and the health of ocean ecosystems. The ocean realm has distinct features – from its unique ecosystems to transboundary waters and complex governance regimes – requiring a tailored approach to assessment and disclosure.

Ocean-related issues – dependencies and impacts on oceans and the corresponding risks and opportunities to business and finance – are already covered in the TNFD framework. These additional materials respond to strong demand from companies and financial institutions operating in the blue economy for additional support tailored to the specific characteristics of marine ecosystems and ocean-based value chains. The sector guides released today help enable blue economy actors to get started on assessing and reporting on their ocean-related issues in line with the recommendations of the TNFD published in September 2023 and in a manner consistent with leading global standards and industry certification requirements.

Fishing

The fishing guidance has been developed through engagement with over 100 organisations across the fishing and marine aquarium trade value chains. It offers practical steps to identify, assess and manage nature-related issues such as dependencies on healthy fish populations and exposure to illegal, unreported and unregulated (IUU) fishing. The guidance builds on existing industry certification schemes and is also aligned with the Science Based Targets Network’s ocean targets for seafood.

In response to market feedback to enable TNFD-aligned reporting that leverages existing disclosures activities, the TNFD has co-developed an interoperability table with the Marine Stewardship Council (MSC). This enables organisations with MSC-certified fisheries to report against TNFD metrics efficiently and ensures comparable information to investors and other stakeholders building on metrics and data already widely in use. Organisations may also refer to publicly available data from management authorities and other certification standards that are compliant with ISEAL and are recognised by the GSSI Benchmark Tool, having met the GSSI supplementary clauses.

Marine transportation and cruise lines

Developed in collaboration with industry stakeholders and other experts, the marine transportation and cruise lines guidance helps organisations identify, assess and manage their nature-related issues, including interactions with ecologically-sensitive areas such as marine protected areas and migratory corridors for marine mammals. It highlights the need for better understanding and disclosure of critical dependencies, such as the cruise line sector’s reliance on vibrant coral reef ecosystems.

Discussion paper to support ongoing consultation on ocean measurement and metrics

Without delaying practical action by business and financial institutions operating in the blue economy, the TNFD’s work with stakeholders also surfaced the need for additional consultation on measurement and metrics across ocean-related dependencies, impacts, risks and opportunities. Greater clarity and consistency around measurement of ocean-related issues is still needed and can support global efforts to enhance ocean-related data collection and data provision to market participants and other stakeholders.

Developed with input from TNFD Knowledge Partners and marine subject matter experts from around the world, the paper explores current ocean-related measurement and metrics related to corporates and financial institutions.

To inform this ongoing work, TNFD has launched an ocean-related issues survey, open until 1 October 2025. Stakeholders are invited to contribute their perspectives to help strengthen and evolve the TNFD’s coverage of ocean topics.

The TNFD will be present at the Blue Economy & Finance Forum (BEFF) and the UN Ocean Conference (UNOC3), to engage with stakeholders and highlight how business and finance can accelerate practical action to assess, respond to and disclose their ocean-related issues.

Razan Al Mubarak, Co-Chair, Taskforce on Nature-related Financial Disclosures:

“Our ocean is critical to life on Earth and the resilience of our global economy, yet it remains underrepresented in most corporate and financial decision-making. With these new materials, TNFD aims to help organisations better understand and respond to the unique challenges and opportunities of ocean-related nature risks. I am pleased to see strong collaboration with scientific and market experts in developing this guidance.”

Lucy Holmes, Senior Director, Ocean Markets & Finance, World Wildlife Fund:

“The degradation and loss of nature is one of the greatest challenges facing our planet today. With trillions of dollars in economic value at stake in the blue economy, it is in the best interest of financial institutions and businesses to start accounting for ocean-related impacts and risks in business models and portfolios. The TNFD’s core recommendations and fishing sector guidance provide a framework for companies that catch or trade in wild-caught seafood to identify these risks, as well as the opportunities that exist in the transition towards more sustainable seafood production. When linked with tools that can drive and verify effective action, financial institutions and companies can meaningfully lower their risks and unlock new economic opportunities.”

Stuart Yorston, General Manager Sustainability, Sealord Group Limited, New Zealand:

“Sealord were pleased to be part of the TNFD consultation process. It was important to us, given New Zealand is a highly regulated fishery with several MSC certified stocks, that we avoid any duplication of work regarding any disclosure. Having the ability to utilise verified third party data/certification (like MSC) within the disclosure guidelines will enable material information to be more easily referenced.”

Ian Hudson, Head of Environment, Anglo American and Chair, TNFD Working Group for marine transportation and cruise lines, and Capt. Raghav Gulati:

“Anglo American’s depth of capabilities and experience in the maritime industry provide us with unique insights and expertise to contribute to shaping a more innovative, lower carbon and overall more sustainable shipping sector, while connecting essential resources with those who need and value them. Aligned to our commitment to providing safe, reliable and sustainable ocean freight for our products, we are pleased to have been part of the TNFD sector guidance development process for marine transportation and cruise lines, where we have stepped up together with industry peers to show leadership in the agenda of nature and biodiversity in the oceans and more sustainable maritime solutions.”

Eric Usher, Head, UNEP FI:

“2025 marks a turning point for ocean finance – an opportunity to align capital with ocean health. Equivalent to the world’s fifth-largest economy, the ocean must be central to nature-positive finance, yet Sustainable Development Goal 14 – Life Below Water – remains the least funded of all the SDGs. UNEP FI welcomes TNFD’s focus on ocean-related nature disclosures and continuing our collaboration to ensure the ocean is no longer left behind.”

Dave Martin, Global Supply Chains Director, SFP:

“The TNFD fishing guidance is an important tool for enhancing transparency and driving nature-positive outcomes in the seafood industry. SFP appreciates its comprehensive approach, which effectively incorporates crucial technical details like GRSF traceability units (Fishery IDs) and SFP’s FishSource data to provide a robust framework for nature-related disclosures. We particularly value how this guidance fosters a more enduring relationship with fisheries by enabling data-driven fisheries management through the prioritization of scientific, transparent, and credible primary data, a key aspect of our vision for 2030 and beyond.”

Hisanori Kanno, Deputy General Manager of Sustainability Department, Nissui Corporation:

“Since the release of the Aquaculture Guidance, the publication of the Sector Guidance for Fishing has been highly anticipated. This new guidance clearly reflects the sector’s unique characteristics, shaped by the working team’s careful research, practical insight, and thoughtful preparation. It addresses key considerations such as the interoperability of environmental data, the diversity of fishing methods and small-scale operations, the social impacts on local communities and indigenous peoples, and the broader seafood supply chain. This guidance will undoubtedly serve as a practical and valuable resource for stakeholders across the global fishing industry, regardless of region or scale.”

Ray Dhirani, Head of Capital Markets Outreach, MSC & ASC:

“The MSC warmly welcomes the collaboration with TNFD on this important guidance, including the interoperability table for TNFD disclosure metrics with the MSC Fisheries Standard. The table enables fishing sector organisations sourcing from MSC-certified fisheries to reference third-party assessed data from MSC Fisheries Standard reports for their TNFD disclosures – thus enabling more streamlined reporting. This alignment supports companies in assessing and disclosing nature-related dependencies, impacts, risks, and opportunities. This is especially pertinent in a context of increasing risks to wild-caught seafood supply chains.”

Dr Karen Evans, Head, Ocean Science Section, Intergovernmental Oceanographic Commission, UNESCO:

“Providing companies of all sizes and scales with the tools they need to transition to nature-positive is essential for ensuring a sustainable ocean future for all.”

Laure Boissat, Manager, Research and Engagement – Oceans, The FAIRR Initiative:

“FAIRR is proud to have contributed to the TNFD consultation on the fishing sector guidance. Its publication marks a vital step toward safeguarding ocean resources and ensuring accountability for companies and value chains. Investors are increasingly acknowledging the economic opportunities of a sustainable blue economy and the long-term resilience of marine ecosystems.”

Alice Thomas-Smyth, Technical Lead and Senior Program Officer, Science Based Targets Network (SBTN) Ocean Hub:

“The TNFD Fisheries Sector Guidance is an important milestone in wild capture seafood disclosures for nature, enabling companies to take crucial steps towards addressing their impacts on biodiversity in the ocean. Notably, the guidance promotes alignment on metrics and definitions across the Taskforce on Nature-related Financial Disclosures (TNFD) for disclosure, the Science Based Targets Network (SBTN) for science-based nature target setting, and the Marine Stewardship Council (MSC) standard for assessing and addressing the environmental performance and management of fisheries. This alignment helps companies more easily understand and transfer data – reducing burden and increasing uptake of nature-related reporting and action.”

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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