The IFRS Foundation and the Taskforce on Nature-related Financial Disclosures (TNFD) have signed a Memorandum of Understanding committing to build upon the TNFD recommendations in the ongoing work of the International Sustainability Standards Board (ISSB), to enable nature-related financial disclosures for use by capital markets. The ISSB will consider the relevance of the TNFD recommendations in meeting the needs of global capital markets.

The ISSB has been a TNFD Knowledge Partner since the inception of the TNFD in late 2021. More recently, the TNFD has been supporting the ISSB’s research.

The ISSB’s focus is on meeting the information needs of investors about how companies’ sustainability-related risks and opportunities affect companies’ prospects. The ISSB’s research on nature-related disclosures and any related standard setting that follows this research will be subject to the IFRS Foundation’s due process including public consultation on any resulting proposals.