Bloomberg Law
Oct. 12, 2022, 1:26 PM

BNP, Nonprofits Seek Wider Disclosure of Nature-Related Impact

Frances Schwartzkopff
Frances Schwartzkopff
Bloomberg News

A corporate-led taskforce developing global guidelines for reporting on nature and biodiversity faces opposition for ostensibly putting business interests ahead of protecting the planet and people.

The Taskforce on Nature-related Financial Disclosures, whose members include BlackRock, Tata Steel and Anglo American Plc, plans to release its final recommendations in 2023. In an Oct. 12 letter to TNFD, more than two dozen civil society organizations said the proposal should be broadened to require corporations to disclose not only how their operations are affected, but how they impact nature -- an approach known as “double materiality.”

The organizations say they ...