If we are going to help the largest companies in the world understand their impact on nature, it only makes sense that we joined them in the arena.
Amongst 23 Australian companies, NetNada stands proud to getting started with voluntary reporting of its nature-related impact in line with The Taskforce on Nature-related Financial Disclosures (TNFD) recommendations.
The announcement was made on October 7th 2024 during the reception of the Global Nature Positive Summit in Sydney which included talks by Hon Tanya Plibersek MP for the Environment and Water of Australia and Sally Townsend, Head of Sustainability, Blackmores.
Why did NetNada adopt The Taskforce on Nature-related Financial Disclosures (TNFD)?
Because we believe it's the right thing.
For the past 3 years, NetNada has aided domestic and interntional companies measure and report on their carbon emissions to the upmost level of integrity and comprehensiveness. Our clients have used our measurement to achieve compliance in line with NGERS, CDP, TCFD, Climate Active Carbon Neutral as well as meeting vendor sustainabiltiy requests, receiving grants, and winning tender.
With Australian Sustainability Reporting comming into effect, the fight for transparent emisisons disclosures is well under way.
Nature is the next (and most difficult) frontier.
Which Australian companies have adopted The Taskforce on Nature-related Financial Disclosures (TNFD)?
Among the list of Australian adopters are Qantas, Telstra, Brambles, Bank Australia, EnergyAustralia, GPT Group, Lion and Blackmores. These organisations have signalled their intention to begin adopting the TNFD recommendations and publishing TNFD-aligned disclosures as part of their annual corporate reporting based on their FY2024-25 or FY2025-26 outcomes.
How are TNFD early adopters connected to nature?
TNFD early adopters in Australia as of October 7th, 2024 come from a range of industries. The operationality of each company at the interfaces with nature is far and wide, with the reasoning between each company adopting the framework being different.
AirTrunk is a leading data center operator in the Asia-Pacific and Japan region. Data centers have a significant environmental footprint due to their high energy consumption, so AirTrunk may be interested in TNFD to better manage its nature-related impacts and contribute to sustainable operations.
Alphinity is an Australian-based investment management firm. As an investor, they are keen on sustainability metrics to mitigate risk and capitalize on opportunities. TNFD would help Alphinity assess nature-related risks in its portfolio, ensuring responsible investment practices.
Bank Australia is a customer-owned bank that prides itself on ethical banking. Given its commitment to sustainability, TNFD aligns with its goals to address environmental risks and support nature-positive outcomes through its lending and investment strategies
Blackmores is a global leader in natural health products. The company relies heavily on natural ingredients, so assessing and managing nature-related dependencies and impacts is critical for its long-term sustainability, making TNFD relevant.
Brambles operates in supply chain logistics, managing reusable pallets and containers. They are focused on sustainable logistics, so TNFD helps them assess the environmental impact of their operations and contribute to sustainable resource use.
EnergyAustralia is a major energy retailer and generator in Australia. With growing attention on environmental impacts, TNFD would be relevant for EnergyAustralia to better manage risks related to natural resources and biodiversity, especially in the energy sector.
First Sentier is an investment management firm that integrates sustainability into its investment approach. TNFD would help them measure and manage nature-related risks across its portfolio, ensuring alignment with global sustainability goals.
Forico is a forest management company in Tasmania. As a company managing natural ecosystems, TNFD would directly help Forico monitor its impact on biodiversity and manage risks related to forest degradation and natural resource use.
Investa is a commercial real estate company in Australia. With real estate development impacting natural environments, TNFD helps Investa assess how its projects affect biodiversity and implement strategies for nature-positive outcomes.
Laing O'Rourke is a multinational construction company. The construction sector can have a significant environmental footprint, and TNFD would help the company assess and manage nature-related impacts in its building and infrastructure projects.
Landcom is a government-owned property development corporation in New South Wales. It focuses on sustainable urban development, and TNFD would support its efforts to integrate nature-positive outcomes into its projects.
Lion is a major beverage company in Australia and New Zealand, producing beer, cider, and non-alcoholic drinks. TNFD would be relevant for them to manage the environmental impacts of sourcing ingredients, production, and water use.
Metrics Credit Partners is an alternative asset management firm specialising in private debt. As lenders, understanding nature-related risks helps them make more informed investment decisions and avoid financing nature-negative outcomes.
Natural Bank is likely focused on sustainable banking practices. TNFD would be important for them to ensure their financial services promote biodiversity protection and support nature-positive business models.
NetNada is a climate tech company helping businesses track and reduce their carbon emissions. Since climate change and biodiversity are interconnected, TNFD would support NetNada’s mission to integrate nature-related data into its services.
New Forests is an investment firm that focuses on sustainable forestry and environmental markets. TNFD is crucial for them to assess biodiversity risks and opportunities, ensuring responsible management of natural ecosystems and forests.
NEXTDC is a data center company in Australia. Like AirTrunk, TNFD is relevant for them to manage the environmental footprint of their operations, including energy and resource consumption.
The Port of Newcastle is one of Australia's largest ports. Managing the environmental impacts of port operations, including biodiversity and marine ecosystems, makes TNFD highly relevant to the port’s sustainability goals.
Qantas is Australia's largest airline. The aviation industry impacts nature through emissions and land use, and TNFD would help Qantas assess its nature-related risks and implement nature-positive strategies.
Telstra is Australia’s largest telecommunications company. While its primary focus is technology, Telstra’s infrastructure projects can have environmental impacts, and TNFD would help the company manage its biodiversity-related risks.
The GPT Group is a major property company in Australia, managing office, retail, and logistics properties. TNFD would assist GPT in ensuring its property development and management practices are nature-positive and sustainable.
As a leading academic institution, the University of Sydney is likely engaged in sustainability research and practices. TNFD can help the university assess its campus's environmental footprint and contribute to biodiversity-friendly operations.
Trust for Nature is a conservation organisation that works to protect biodiversity on private land in Australia. TNFD would help them align their conservation efforts with broader nature-positive financial and business frameworks.
What is The Taskforce on Nature-related Financial Disclosures (TNFD)?
The Taskforce on Nature-related Financial Disclosures (TNFD) is a global initiative that equips organisations with the tools to address nature-related risks and opportunities. Launched in June 2021 with backing from the G20 Sustainable Finance Working Group, governments, and philanthropic foundations, it brings together leaders from the market, science, and government sectors to tackle evolving environmental challenges.
In September 2023, the TNFD published its first set of recommendations, aimed at helping businesses and financial institutions assess, report, and act on their dependencies, risks, and impacts related to nature. These recommendations align with Target 15 of the Global Biodiversity Framework (GBF), which was endorsed by over 190 governments at the CBD COP15 in Montreal in 2022. The goal is to encourage businesses to integrate nature into their strategy, governance, risk management, and capital allocation processes to shift financial flows towards nature-positive outcomes.
With these recommendations now available, the TNFD is focusing on promoting voluntary adoption in the market. They’re also addressing the practical needs of businesses, such as providing data and helping to build capabilities to support implementation.
The Taskforce itself includes 40 senior executives from leading corporations, financial institutions, and service providers, collectively managing over US$20 trillion in assets. They work closely with 20 knowledge partners, including top institutions in science, standards, and data. Additionally, over 1,600 organisations are part of the TNFD Forum, and more than 440 companies worldwide have already committed to begin reporting on nature-related issues in alignment with the TNFD recommendations.
How can NetNada help companies with TNFD?
NetNada is a leading sustainability and carbon accounting software used by more than 100 companies. Using a combinations of algorithms, data automation, and years of carbon accounting and sustainability experience, our team can support companies with their most demanding reporting needs.
From the first data point collected, all the way to audit handover.
