The REP Wrap: TNFD issues evidence of nature materiality
Your weekly summary of corporate sustainability news
The Taskforce on Nature related Financial Disclosures (TNFD) and the Global Reporting Initiative have published a set of case studies of companies that identify nature-related risks and opportunities to their businesses. TNFD also issued final sector guidance for water utilities and services, and a joint paper with Oxford University and and Global Canopy pulling together evidence of the financial materiality of nature-related risks for corporates and financial institutions. A consultation is open to gather additional evidence and feedback on the accompanying financial risks database until the end of the year.
The European Commission has backtracked on its statement last Friday that it was withdrawing its proposal for a Green Claims Directive. The Commission’s decision to abandon the anti-greenwashing law was met with fury by MEPs and some Member States, who argued it undermined the democratic process. But this week the Commission said it will stick with the proposal, as long as it’s amended to remove millions of micro-enterprises from its scope, according to reports.
Bloomberg claims to have found evidence that companies with better ESG scores outperform low-scoring ones. Using constituents in large, mid and small cap indices as examples, the data house concluded that those with higher ESG performance also had better returns, and risk-adjusted returns.
L’Oreal has partnered with University of Cambridge Institute for Sustainability Leadership on an investment programme which will finance start-ups and small businesses developing solutions to sustainability challenges. The €100m, five-year Sustainable Innovation Accelerator will focus on seven key areas including water, nature, plastic and climate.
The governments of France, Singapore and the UK have thrown their weight behind a new body to develop principles for using carbon credits. The Coalition to Grow Carbon Markets aims to strengthen demand for voluntary credits, ahead of the COP30 climate summit later this year. More governments are expected to join in coming months.
Analysis of 347 listed UK firms found that 88% of corporate emissions came from the energy minerals, process industries and transport sectors. Nearly 90% are generated within overseas supply chains, noted the report from academics at the University of Exeter and J O Hambro Capital Management, which was based on a probabilistic forecasting model.
The London School of Economics has published a snapshot of current trends in climate litigation. Of the 226 cases filed in 2024, around a fifth targeted companies or their directors and officers.
Samsung’s Nordic arm revealed its human rights activities last year, as part of reporting under Norway’s Transparency Act. The tech giant said in 2024 it had established a global grievance resolution policy, appointed dedicated personnel to resolve grievances at several sites, and hosted its second “human rights stakeholder workshop” to help it improve its performance.
