Today 62 civil society organizations and networks – whose members include over 370 groups across 85+ countries on six continents – have sent an open letter to the Taskforce on Nature-related Financial Disclosures (TNFD) highlighting that its final draft fails to address some of its worst flaws that will facilitate greenwashing.

The open letter discusses a range of issues with the TNFD’s proposed framework and broader processes. It highlights that TNFD reports will not have to include information on where companies are facing allegations of harming biodiversity or environmental defenders. The data in reports will also be unverifiable and companies will not need to report their lobbying against new laws that help protect nature. The framework will not allow communities affected by biodiversity harms to even know the name of companies who are buying from, or financing, activities in their area. Finally, the letter highlights that the TNFD has failed to respond to academic research that re-pricing biodiversity risks is more likely to impact lower and middle-income countries, not richer countries. 

Read the open letter here and the Forests and Finance Coalition’s press release here.