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The finance sector is coming together to apply its collective commercial muscle to tackling the nature crisis. After gathering momentum for months, the initiative to bring together a Task Force on Nature-related Financial Disclosures (TNFD) publicly launched on Friday. 34 financial institutions from across five continents have joined forces with the governments of UK, France, Peru and Switzerland, as well as financial regulators from Argentina and Mexico in an Informal Working Group. The group, which has 62 members in total, including the World Bank, the OECD and a number of multinational companies, will bring together a TNFD next year.
Rising awareness of nature-related financial risks
The huge interest in a TNFD highlights a growing recognition that the financial world is not separate from the natural world. A new re…