Testing a nature-related risk framework in the consumer staples sector. Learnings from soy supply chains


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Testing a nature-related risk framework in the consumer staples sector. Learnings from soy supply chains

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Integrating biodiversity into a business context

The Global Canopy and UNEP FI report identifies the key challenges faced by companies and financial institutions when assessing, managing and reporting on their nature-related risks. The report's recommendations aim to inform the upcoming global framework for the management and disclosure of nature-related risks currently being developed by the Task Force on Nature-related Financial Disclosures (TNFD).

Global Canopy and the United Nations Environment Programme Finance Initiative (UNEP FI) conducted an initial pilot study to support the development of the first beta version of the TNFD's global framework for nature-related risk management and disclosure, which was launched in March 2022. The project aimed to identify what a framework for nature-related risks should consider, specifically the TNFD framework, so that companies and financial institutions could implement it in practice.

To do this, Global Canopy and UNEP FI developed a high-level exploratory framework that presented concepts set out in the TNFD's Proposed Technical Scope. Along with examples, data and metrics, the high-level framework was tested with a small group of organisations operating within soy supply chains or providing financing to them. Among them were Rabobank, Santander, Tesco, Vitasoy, Danone and McDonald's. WWF also provided additional technical input.

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