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Technology & Data

ENCORE Issues Update to Support TNFD

The UN-backed Exploring Natural Capital Opportunities, Risks and Exposure (ENCORE) tool has been updated to support companies and financial institutions choosing to comply with the Taskforce on Nature-related Financial Disclosures (TNFD) framework. “As the market’s interest in nature has developed and matured over the past years, so too has ENCORE, rolling out an increasingly comprehensive offering to organisations seeking to understand and ultimately disclose on their nature-related issues,” said Emily McKenzie, the TNFD’s Technical Director. The update covers seven key improvements, including the expansion of its list of 92 ‘production processes’ to 271 ‘economic activities’ and more actionable insights on how these activities can impact nature. These activities cover livestock farming, chemicals manufacturing, nuclear power production and more. In addition, all data on the nature-related impacts and dependencies of listed economic activities has been updated based on the latest scientific research. ENCORE also now offers an improved methodology of its materiality ratings to better outline how significant potential nature dependencies are and how much pressure economic activities have on nature. This will enable comparisons between economic activities across all covered sectors. “As growing numbers of companies begin to disclose on nature dependencies, impacts, risks and opportunities, screening tools like ENCORE help them identify the issues that are most likely to be material and should be prioritised in assessments,” said Eric Usher, Head of the UN Environment Programme Finance Initiative (UNEP FI). ENCORE was launched in 2018 and is a collaboration between Global Canopy, the UNEP FI and UN Environment Programme World Conservation Monitoring Centre.

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