Taskforce on Nature-related Financial Disclosures (‘TNFD’) provides organisations with a risk management and disclosure framework to act on evolving nature-related dependencies, impacts, risks and opportunities
Smurfit Kappa Group is one of the first companies to adopt the recommendations of the Taskforce on Nature-related Financial Disclosures. SKG was announced in the first cohort of Early Adopters by the TNFD during the Annual Meeting of the World Economic Forum in Davos on January 16th.
The Group will adopt TNFD-aligned disclosures together with its financial results in 2025. This announcement builds on the existing nature-related reporting that SKG communicates each year through its third party assured Sustainable Development Report, which includes time bound nature-related targets that are linked to both management incentives and the Group’s cost of funding.
The TNFD builds upon the work of the Task Force on Climate-related Financial Disclosures (‘TCFD’) which focuses on disclosures relating to climate change. In the case of the TNFD, the focus is on the role of nature. Its primary aim is to allow decision makers to incorporate nature-related risks and opportunities into strategic planning. By integrating TNFD recommendations into reporting mechanisms, Smurfit Kappa is demonstrating its dedication to preserving nature, enhancing biodiversity, and maintaining the highest standards of sustainability across the Group.
Tony Smurfit, Group CEO at Smurfit Kappa, commented:
“We are delighted to announce our intention to become an early adopter of the TNFD which aligns with our ongoing commitment of supporting a greener, bluer planet. Our commitment is to do the right thing, as well as securing a resilient and sustainable future for our business, our people, and our planet.”
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