The TNFD final recommendations were released in New York on Tuesday morning.
The framework will trigger major changes to corporate disclosures.
Banks will need to invest to understand the climate risks in their loan books.
Banks and investors have a new set of guidelines to compare companies’ impact on the natural environment, after the release of formal guidance on ensuring nature is considered alongside financial, operational and climate risks.
The Taskforce on Nature-related Financial Disclosures issued a final framework on Tuesday aimed at shifting global financial flows away from companies damaging the environment towards those creating nature-positive outcomes, as international investors look to enforce the standards through engagement with boards of directors.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
