BlackRock, HSBC Join Biodiversity Disclosure Initiative TNFD

Executives from BlackRock Inc., HSBC Holdings Plc and UBS Group AG were appointed to the Taskforce on Nature-related Financial Disclosures to help develop a framework for measuring the impact that financial institutions and corporations are having on the natural world.

A 30-member group, which also includes representatives from Bank of America Corp., Moody’s Corp. and Nestle SA, will serve a two-year term on the taskforce to deliver a “risk management and financial disclosure framework to support a shift in global financial flows away from nature-negative outcomes and towards nature-positive outcomes,” according to a statement from the TNFD Thursday. The final rubric is due to be released in late 2023 with a draft version to be circulated early next year.