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TNFD Backs Global Nature-related Public Data Facility

The Taskforce on Nature-related Financial Disclosures (TNFD) has suggested a global public data facility could expand the availability, quality and maintenance of nature data. Such an initiative would offer “significant benefits for public, private and civil society stakeholders globally”, it said. A high-level scoping study led by the TNFD found that nature-related data demand is rapidly growing, with the interest in global scale solutions accelerating since agreement of the Kunming-Montreal Global Biodiversity Framework at COP15 in Montreal last year. The TNFD said that the availability of “accurate, comparable and decision-useful” nature-related data was an “essential pre-requisite to address the global challenge of accelerating nature loss”. The taskforce also underscored its importance in helping organisations “become more resilient in the face of nature-related risks”, as well as delivering sustainable development for local communities and facilitating capital flows to “nature positive outcomes”. In June, TNFD co-Chair David Craig said the taskforce was “scoping a similar project to the Net Zero Data Public Utility” for nature-specific data. Tony Goldner, Executive Director at the TNFD, said: “A lot of progress has been made since the Paris Agreement to upgrade the quality and accessibility of climate-related data. We now need a step change in focus and funding to enhance a global baseline of nature-related data. We believe there is a strong case for connecting, scaling and maintaining nature-related data through a global public data facility”. The TNFD is set to publish its final recommendations based on final feedback and pilot testing in September 2023. 

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