RIAA calls on industry to think beyond carbon

New Zealand was the first country to sign the TCFD framework beginning in 2023. But international speakers, at a Responsible Investment forum yesterday, said that investors, both institutional and otherwise can do better by considering a broader view on nature that thinks about biodiversity and natural wealth.

Nicky Chambers, co-chair of the technical expert group at the Taskforce on Nature-related Financial Disclosures said that the new TNFD “is inspired by the TCFD to some extent, but will be broader in its reach and its view on what constitutes ‘nature’”.

“All economies are dependent on nature, it is surprising that financial systems do not already take this into account. This may be partly why we are currently seeing natural resources being liquidated.

“The financial industry needs to understand the risks and opportunities related to nature, particularly when allocating capital.”