🇳🇴 The TNFD launches final recommendations on nature related issues

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Press release from Grieg Seafood 

Today, the Taskforce on Nature-related Financial Disclosures (TNFD), which Grieg Seafood is a part of, has published its final Recommendations for nature-related risk management and disclosure. The TNFD metrics for the aquaculture sector are also published in draft version.

New York, 18th September 2023

The TNFD Recommendations aim to inform better decision making by companies and capital providers, and ultimately contribute to a shift in global financial flows toward nature-positive outcomes and the goals of the Kunming-Montreal Global Biodiversity Framework.

The TNFD comprises 14 Disclosure Recommendations which will enable companies to assess and report material and comparable information about dependencies, impacts, risk and opportunities.

Grieg Seafood has been one of 40 taskforce members, representing a variety of global sectors, corporations, financial institutions, and geographies, developing the Recommendations over a period of two years. The work has drawn on the support and active input of market and non-market stakeholders from almost 60 countries around the world.

Recognizing that nature issues may differ between sectors and geographies, the TNFD is developing additional guidance to various sectors, based on their unique interface with nature. Grieg Seafood is co-chairing the TNFD efforts to develop sector guidance for aquaculture, fishing, agriculture and other food industries.

Today, the aquaculture metrics are released in draft version. Grieg Seafood encourages aquaculture companies to provide feedback to the metrics.

Commenting on the launch, Andreas Kvame, CEO of Grieg Seafood ASA said:

“Today, our global food system is both highly dependent on nature and is also the cause of major impacts on nature. We strongly believe that food from the ocean can be a part of the solution, but only if we do it right and only if we tackle the nature-related risks that our industry faces. The TNFD provides a framework that helps aquatic food producers like us to mitigate risks and grasp opportunities in this space.”

The final Recommendations were launched today at an event at the New York Stock Exchange as part of New York Climate Week, with over 250 global leaders across business, finance, government and civil society.

Learn more about the TNFD Recommendations and find the draft aquaculture metrics here.

Originally published on 18 September.