The Taskforce on Nature-related Financial Disclosures (TNFD) is a pioneering initiative aimed at developing a risk management and disclosure framework for organizations. The goal is to report and act on evolving nature-related risks. Nature loss poses a significant risk to businesses, but the transition to nature-positive investments offers immense opportunities. The TNFD framework, which is market-led and science-based, enables companies and financial institutions to integrate nature into their decision-making processes.
As of today, Iceberg Data Lab can deliver over 50% of the TNFD metrics for financial institutions. The research team at IDL is diligently working to increase this capability, with a goal to deliver more than 80% of the metrics by the end of 2024. This commitment to the TNFD’s goals positions IDL as a key player in the move towards nature-positive investments. Besides, Iceberg Data Lab’s data has already been used as part of the LEAP (Locate, Evaluate, Act, and Publish) Approach. The TNFD’s recommendations call for increased transparency in relation to value chains, evaluating and prioritizing nature-related dependencies, impacts, risks, and opportunities within both the upstream and downstream aspects of the value chain. Iceberg Data Lab integrates scopes 1, 2, 3 Upstream and Downstream for all its products, providing enhanced granularity up to the physical flows of products and services. Moreover, IDL computes both negative and positive impacts on biodiversity through the Corporate Biodiversity Footprint (CBF) and the Positive Contribution as well as dependency scores, providing a comprehensive assessment of nature-related impacts and dependencies.
The TNFD has developed sector-specific guidance that includes a higher level of detail, encompassing subsectors. What sets IDL’s products apart is the granularity of the data utilized in their models. This enhanced detail allows for a more comprehensive and accurate assessment of nature-related risks and opportunities. By the end of 2024, Iceberg Data Lab aspires to be a a valuable partner for any organization looking to align with the TNFD’s goals. IDL’s commitment to integrating nature into decision-making processes, coupled with its innovative methodologies and approaches, positions it as a key player in the move towards nature-positive investments.
