RS Metrics worked alongside the Taskforce on Nature-related Financial Disclosures (TNFD) as a Data Catalyst member to develop data solutions that adhere to their new TNFD framework which was launched in September 2023
What is TNFD?
The Taskforce on Nature-related Financial Disclosures (TNFD) has a mission to provide a framework for companies to assess and enhance their processes by reducing nature-related damage and promoting a more sustainable future supported by investors.
A key problem they are addressing is the lack of reliable data on nature-related risks that prevents companies and investors from taking decisions that will consistently protect the surrounding nature and will ultimately provide more security and opportunities for businesses.
What is LEAP?
TNFD proposes the LEAP (Locate, Evaluate, Assess, Prepare) approach for disclosures for corporates, because it contains the necessary steps for companies to follow to ensure a good understanding of their risks and opportunities. The framework also suggests that this approach can be widely embraced by financial
institutions and decision makersto support an economy that protects the environment. RS Metrics has worked closely with the TNFD organization, as part of its TNFD Data Catalyst team, and has developed its core products, ESGSignals® and AssetTracker, with the LEAP framework in mind.
Locate your interface with nature
Creating a geospatial map of company locations of biodiversity importance and a list of the resources that the company needs for functioning:
ESGSignals® provides the ability to add your assets and see whether they are close to Key Biodiversity Areas, Protected Areas, and IUCN Red List Species.
Evaluate your dependencies and impact
Finding out connections between assets and their material impacts and dependencies on nature:
ESGSignals® integrates ENCORE Materiality Map to do an initial mapping of perceived impacts and dependencies on nature for each asset and then provides MSA (Mean Species Abundance) based indicators quantifying certain biodiversity impacts.
Assess your risks and opportunities
Finding the threats and opportunities related to biodiversity:
ESGSignals® assess various biodiversity related risks at the asset level and provides tools to easily screen assets on risks that are more material to those organizations.
Prepare for risks, opportunities, and reports
Creating the final disclosure that adheres to the LEAP framework:
ESGSignals® has biodiversity data from IBAT and independent asset-level ESG information that can be used for the disclosure.
RS Metrics - A TNFD Data Catalyst Member
The RS Metrics team is a proud member of the TNFD Data Catalyst team which consists of industry leaders who are working together to solve the current problems that prevent quality nature-related disclosures that are necessary for enhanced decision making and reducing overall risk. TNFD has brought together companies from diverse fields that can each contribute to the solution of the problem and promote the framework’s approach in their company processes.
RS Metrics’ data team has shared its unique geospatial expertise which allows for both the quick mapping of assets to every company and the supply of biodiversity assessments which consider each asset’s precise location. You can explore our TNFD use case below and learn more about how ESGSignals® can be used to disclose performance in accordance with the newest TNFD framework.