Dialogue on TNFD

An evening dialogue on nature and finance. From left: Prof Lawrence Loh, Director, CGS; Ms Esther An, Chief Sustainability Officer, CDL; Mr David Craig, Co-Chair, TNFD; and Mr Yang Yuelin, Chief Stewardship and Well-being Governance Officer at TPC. (All photos in this article are credited to TPC)

Should businesses first solve the climate crisis and then tackle the nature crisis?

Climate and nature are two sides of the same coin; the combined nature-climate crisis is a problem that the current generation owns and we have to act, said Mr David Craig, Co-Chair of Taskforce on Nature-related Financial Disclosures (TNFD).

He was speaking at the 4 November event organised by City Developments Limited and Tsao Pao Chee (TPC), and joined a panel discussion that included Ms Esther An, Chief Sustainability Officer, CDL, and Mr Yang Yuelin, Chief Stewardship and Well-being Governance Officer at TPC and also an advisory board member of the NUS Centre for Governance and Sustainability (CGS). The discussion brought forth thoughts about the links between TNFD and TCFD (Task Force on Climate-Related Financial Disclosures), as well as how businesses can act.

Professor Lawrence Loh, Director, CGS, gave closing remarks for the night. He shared about CGS’ study on the nature-related reporting of 700 listed companies across 14 selected jurisdictions in Asia Pacific.

While 72% identified nature topics in their sustainability or annual reports, only 35% within this group considered these topics as material to their businesses.

Businesses need to ingrain in their nature to think more about nature.

Mr David Craig, Co-Chair, TNFD, speaking to invited guests at TPC.

From left: Ms Esther An, Chief Sustainability Officer, CDL, and Mr David Craig, Co-Chair, TNFD joined in a panel discussion on nature and finance, moderated by Mr Yang Yuelin, Chief Stewardship and Well-being Governance Officer at TPC. — Mr David Craig, Co-Chair, TNFD, speaking to invited guests at TPC.