Also on the Council are the four founding partners of the TNFD: Global Canopy, the United Nations Development Program (UNDP), the United Nations Environment Program Finance Initiative (UNEP-FI) and WWF.
Headquartered in the US, The Rockefeller Foundation is the second-oldest major philanthropic institution in America.
According to the TNFD, the grant is part of The Rockefeller Foundation’s broader effort to mobilise private sector resources for climate mitigation, adaptation and resilience, while playing a meaningful role in mainstreaming nature-based solutions. “It reflects the foundation’s expertise in building out an enabling architecture for business and finance on the climate side, now with an increasing focus on nature.”
Maria Kozloski, senior vice president of innovative finance at The Rockefeller Foundation, says: “Nature’s health determines people’s health — and the quality of the food we eat, the jobs we have, the economies that shape our well-being, and so much more. While most of the services that nature provides are not paid for, we are excited that the Taskforce on Nature-related Financial Disclosures is advancing ways to understand how businesses use them and encourage businesses to assess and better manage their nature-related issues.”
See also: Could the West’s flagging interest help China take the lead in sustainability?
David Craig, co-chair of the TNFD, says the grant “will help us maintain the momentum of our second phase of work, as we continue to encourage voluntary market adoption, build out our market capacity-building interventions and develop our roadmap for enhancing access to high-quality nature-related data”.
Over 500 organisations are now TNFD adopters, including Singapore’s City Developments, United Overseas Bank, Phillip Capital Management, Seatrium, Frasers Property, Olam Agri, Olam Food Ingredients and Oceonomy.
In total, corporates with over US$17 trillion in assets under management have committed to report their nature-related issues aligned with the TNFD recommendations.
