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Finance and nature: additional complexity or urgent necessity?

Finance and nature: additional complexity or urgent necessity?

Day 1 Afternoon

Wednesday 21 February

Room :

ROOM 2

Speakers

Chair
Sylvie Goulard
-
Public Authorities
Nathalie Borgeaud
Lead, Financial Markets Stakeholder Engagement - Taskforce on Nature-related Financial Disclosures (TNFD) 
Olaf Sleijpen
Member of the Board, Executive Director of Monetary Affairs - De Nederlandsche Bank (DNB) 
Paul Tang
MEP - Committee on Economic and Monetary Affairs, European Parliament
Industry Representatives
Philippe Blanchot
Director Institutional, International and European Affairs - Caisse des Dépôts (CDC)
Hirotaka Hideshima
Counsellor on Global Srategy, TNFD Taskforce member - The Norinchukin Bank
Sinthuja Yogarajah
Associate Director, ESG Integration - Federated Hermes (UK) LLP

Objectives

The protection of nature, including biodiversity, has become a political priority at the EU level as a part of the Green Deal and at the international level with the Kunming-Montréal Agreement of December 2022.

The EU sustainable reporting framework requires the disclosure of information related to the impact of financial and non-financial corporations on nature, including biodiversity. European Sustainable Reporting Standards (ESRS) on biodiversity are required for relevant enterprises.

At the international level, the Taskforce for Nature-related Financial Disclosures (TNFD) published recommendations for companies in September 2023, notably to disclose strategies and data vis-à-vis biodiversity.

The session will clarify what is expected from the financial sector on biodiversity, and current EU reporting requirements and the main recommendations issued by the TNFD. It will also outline the main challenges these requirements and recommendations raise for the financial sector and the key success factor for their effective and efficient implementation.

Points of discussion

  1. What are the reporting requirements of EU regulation, and the main recommendations issued by the TNFD for financial and non-financial corporates on biodiversity? Are the EU requirements and TNFD recommendations compatibles?
  2. What are the main challenges raised for the financial sector by these recommendations and the EU legislation on biodiversity?
  3. What are the priorities in the coming years for increasing the contribution of the financial sector in the preservation/restauration of nature all over the world?