The Smurfit Kappa Group has announced it is to adopt the recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD).
The company was announced in the first cohort of early adopters by the TNFD during the Annual Meeting of the World Economic Forum in Davos on 16 January.
The Recommendations
The TNFD recommends that companies disclose information relating to their role in nature.
They outline four pillars of reporting: governance, strategy, risk and impact management, and metrics and targets.
The primary aim of the task force is to allow decision makers in the financial sector to incorporate nature-related risks and opportunities into strategic planning.
By incorporating the recommendations of TNFD, Smurfit Kappa said that they demonstrated their dedication to preserving nature and maintaining high standards of sustainability across the group.
As part of the recommendations, Smurfit Kappa will disclose TNFD disclosures together with its financial results in 2025.
Speaking on the announcement, group chief executive at Smurfit Kappa Tony Smurfit said, “Our commitment is to do the right thing, as well as securing a resilient and sustainable future for our businesses, our people, and our planet.”
The Taskforce
Officially launched in June 2021, the TNFD aims to mobilise business innovation and private finance to halt and reverse nature loss and contribute to nature-positive outcomes.
Their goal is to inform businesses on their role in preserving nature, and to offer them a clear case for action.
The TNFD builds upon the work of the Taskforce on Climate-related Financial Disclosures (TCFD), which focuses on disclosures related to climate change.
