TNFD and Beyond: An Introduction to Nature in Finance
Climate Risk Podcast
The Intersection of Nature and Financial Markets
In this chapter, the guest discusses their background in sustainability and financial markets and how they were approached to incorporate the value of nature into financial markets. They explain the interconnectedness of nature and climate and highlight the importance of getting nature taken into account alongside the carbon agenda.
Hear from Simon Zadek, Executive Director at NatureFinance and Senior Advisor to the TNFD, as we explore the growing intersection of nature and finance.
With the recent release of the Taskforce on Nature-related Financial Disclosures Framework (TNFD), the idea of nature risk is now in the spotlight for many finance professionals.
Even though some may have encountered elements of ‘nature’ in their work before, for example when looking at supply chain risk, it may not have been labelled as such. And with many just getting to grips with climate risk management, there is an open question around how to incorporate nature-related issues.
That’s why in today’s episode, we’ll take a closer look at the concept of nature in finance. We’ll reflect on:
- How it’s defined, and what risks it presents to our economies;
- What the TNFD framework covers and what this means for risk professionals; and
- The risks and opportunities that nature presents.
To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr
For more information on nature and climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate
If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com Links from today’s discussion:
- NatureFinance homepage: https://www.naturefinance.net/
- Recommendations of the TNFD: https://tnfd.global/recommendations-of-the-tnfd/
- Taskforce on Nature Markets homepage: https://www.naturemarkets.net/
- EU Carbon Border Adjustment Mechanism (CBAM): https://taxation-customs.ec.europa.eu/carbon-border-adjustment-mechanism_en
- EU Regulation on deforestation-free products: https://environment.ec.europa.eu/topics/forests/deforestation/regulation-deforestation-free-products_en
- Report - Making Nature Markets Work (Taskforce on Nature Markets): https://www.naturemarkets.net/publications/making-nature-markets-work-extended-report
- Report - Breaking the Environmental Crimes-Finance Connection (NatureFinance): https://www.naturefinance.net/resources-tools/breaking-the-environmental-crimes-finance-connection/
- Report - More for Less: Scaling Sustainability-linked Sovereign Debt (NatureFinance): https://www.naturefinance.net/resources-tools/more-for-less-scaling-sustainability-linked-sovereign-debt/
Simon Zadek, Executive Director at NatureFinance and Senior Advisor to the TNFD
Simon currently holds a number of leadership roles, including Executive Director at NatureFinance, co-lead of the Taskforce on Nature Markets, and Senior Advisor to the TNFD, Chair of Finance for Biodiversity, and Director of Migrant Nation.
Simon has also previously held many senior roles within the UN, including as Head, Secretariat, UN Secretary General’s Task Force on Digital Financing of the Sustainable Development Goals, as Senior Advisor on Finance in the Executive Office of the Secretary General, and as Co-Director of UNEP's Inquiry into the Design of a Sustainable Financial System.
In these roles, he co-Chaired China’s Green Finance Task Force, and led the Green Finance Study Group secretariat under the Chinese, German and Argentinian G20 Presidencies.
Prior to this, he was Senior Advisor to the World Economic Forum and the Global Green Growth Institute, founder and CEO of the international think tank, AccountAbility and Development Director of the New Economics Foundation.
He was Visiting Professor at the Singapore Management University and the Copenhagen Business School, and has been a senior fellow at Tsinghua School of Economics and Management, Harvard`s Kennedy School of Government, and the University of Southern Africa, amongst others. He has worked with many corporations, governments and multi stakeholder initiatives on their sustainability and broader strategies, been a member of the International Advisory Board of Generation Investment Management, and has published extensively, including the award winning book, The Civil Corporation.
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