Over 300 companies, including AstraZeneca, Anglo American, Endeavour Mining, Heathrow Airport and British American Tobacco, will start to include nature-related disclosures as part of their annual corporate reporting.
Some of the early-adopter companies, which have a combined value of US$4 trillion, have committed to begin reporting on nature-related issues in their 2023 results, while others will start with their 2024 or 2025 results, it was announced as the agreement was formalised at the Davos summit today.
Reporting on nature-related issues was one of 14 recommended measures outlined last September by the Taskforce on Nature-related Financial Disclosures (TNFD).
The TNFD says making these disclosures will "enable businesses and finance to integrate nature into decision making and ultimately support a shift in global financial flows to encourage and enable business and finance to assess, report and act on their nature-related dependencies, impacts, risks and opportunities with the aim of supporting a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes, aligned with the Global Biodiversity Framework".
Early adopters include more than 100 financial institutions and 29 globally systemically important banks, including Fidelity and Standard Charters, as well as Norway's sovereign wealth fund, Norges Bank, which is the largest single owner in the world’s stock markets, owning almost 1.5% of all shares in the world’s listed companies.
David Craig, co-chair of the TNFD and former CEO of Refinitiv, said: “This is a milestone moment for nature finance and for corporate reporting.
“As climate-related sustainability reporting goes mainstream through the new International Sustainability Standards Board (ISSB) standards and regulation in a growing number of countries, this is a clear signal that investors, lenders, insurers and companies are recognizing that their business models and portfolios are highly dependent on both nature and climate and need to be treated as both strategic risks and investment
opportunities.”
46 UK companies in the list
- Anglo American PLC (LSE:AAL)
- AstraZeneca PLC (LSE:AZN)
- BBC
- British American Tobacco PLC (LSE:BATS)
- Brunel Pension Partnership
- BSI Group
- Climate Asset Management
- Clyde & Co LLP
- Confident Futures Ltd
- Daisy Corporate Services Trading Limited
- Drax Grop PLC
- Endeavour Mining
- ERM
- EY
- Federated Hermes
- FPR Advisory
- Greensphere Capital
- GSK PLC (LSE:GSK, NYSE:GSK)
- Haleon PLC (LSE:HLN, NYSE:HLN)
- Heathrow Airport
- IK Partners
- Impax Asset Management (AIM:IPX) PLC
- Kew Gardens
- London LGPS CIV Limited
- London Stock Exchange Group PLC (LSE:LSEG)
- Low Carbon Limited
- Montanaro Asset Management
- Nattergal
- NextEnergy Capital
- OVO
- Oxbury Bank
- PIDG Ltd
- PwC
- Quinbrook
- Reckitt Benckiser PLC
- RSK Group
- Schroders PLC (LSE:SDR)
- SLM Partners
- SLR Consulting
- Standard Chartered PLC (LSE:STAN)
- Woer Peak
- United Utilities Group PLC (LSE:UU.)
- University of Cambridge Institute for Sustainability Leadership