The WWF and the TNFD have joined forces to launch a new Nature Data Public Facility (NDPF).
The WWF, renowned for its global conservation efforts, aims to address environmental challenges through sustainable solutions. The TNFD, on the other hand, focuses on integrating nature-related data into financial decision-making, striving to transform financial institutions’ approach to biodiversity.
The partnership aims to develop tools necessary for the financial sector to assess natural value and the implications of biodiversity loss more accurately. The NDPF will serve as a crucial platform combining the TNFD’s data collection capabilities with the WWF’s innovative geospatial ESG consortium, designed in collaboration with Responsible Risk. This initiative will provide financial institutions with valuable insights into how natural values can be instrumental in promoting global biodiversity conservation.
The World Wildlife Fund is a leading voice in global wildlife conservation, working across the globe to combat environmental degradation. The Taskforce on Nature-related Financial Disclosure specialises in promoting the integration of ecological data into financial practices, aiming to influence how institutions assess and respond to environmental risks.
The newly formed NDPF will integrate the efforts of several prominent organizations, including Ordnance Survey, Innovate UK Business Connect, and the University of Zurich. These collaborations aim to harness various expertise to enhance the quality and utility of nature-related financial data.
In addition to launching the NDPF, the TNFD plans to unveil detailed blueprints and a roadmap for the facility at the upcoming World Biodiversity Summit, scheduled alongside COP16. This summit will likely be a significant event for stakeholders involved in global biodiversity and sustainable finance.
Catherine Armour, director of data initiatives at the TNFD, expressed enthusiasm about the collaboration: “We are delighted to deepen our long-term collaboration with WWF, one of our founding organisations, to help meet the growing nature-related data needs of the market. Today’s announcement underscores the need for organisations right across the nature data value chain – from primary data collectors to end users – to come together to improve the quality, timeliness and decision usefulness of nature-related data.”
Donna Lyndsay, sustainability lead at Ordnance Survey, also commented on the role of location data in this venture: “Location data is the key to understanding the impact of an asset on the ecosystem and biodiversity. Ordnance Survey is bringing together our knowledge on how to accurately locate things on the planet and how to provide trust and objectivity into geospatial ESG. We are aiming to do this by providing a system for verified asset location with our partners. We see this as a key capability to drive the transparency needed to help link global identifier and datasets together to protect nature and people.”
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