The TNFD developed in partnership with PBAF a discussion paper to help financial institutions make informed decisions on where to start and the approaches to use as they navigate this area. The paper is building on the significant work on biodiversity footprinting by PBAF, the Align project, the Finance for Biodiversity Foundation and others.
The ‘Discussion paper on Biodiversity footprinting approaches for financial institutions’ (December 2023) explores current developments in biodiversity footprinting and the use of these approaches in the context of TNFD-aligned corporate reporting and risk management.
The paper builds on a broad definition of biodiversity footprinting, including quantified footprinting approaches (as covered by the PBAF Standard) and other approaches like the use of the Integrated Biodiversity Assessment Tool (IBAT). It discusses the role of footprinting, steps to select a footprinting approach and disclose the results, and areas for further development.