The LEAP Nature Risk Assessment Approach: A2: Acknowledgement of current nature-related risk management efforts
A2: Existing risk mitigation and risk and opportunity management
Guiding Question: What existing risk mitigation and risk and opportunity management approaches are we already applying?
Introduction
Organisations should identify the specific risk mitigation and risk and opportunity management processes and elements that may need to be adjusted to integrate nature-related risks and opportunities, as well as the functions and departments responsible for those processes and elements. (Aligned with Step 2 of TCFD).
An important aspect of integrating nature-related risks and opportunities into existing processes is to understand how risk and opportunity management and strategic planning tie together and the relevant key stakeholders. In this regard, it may be helpful to review key governance, strategy setting and risk management elements and then identify the various functions involved in risk management activities that support strategic planning. Refer to TCFD for further details on their related Step 2.[1]
Key principles for integrating nature-related risks and opportunities into existing risk and opportunity management frameworks
The TNFD adopts five principles for integrating nature-related risks and opportunities into existing risk and opportunity management frameworks. The TNFD aligns with the TCFD’s four principles (interconnections, temporal orientation, proportionality and consistency) and adds an additional nature-specific principle of ‘location-based’ to emphasise that dependencies and impacts on nature are specific to particular locations.
Additional Content
Useful Tools and Platforms
The following tools and platforms have been carefully selected by the TNFD to help support you in completing this phase of the LEAP process.
CDPLive
Key disclosure framework for water and forest impacts for companies and cities
GeofootprintLive
Combines data from satellite imagery with environmental metrics to visualize and simulate the environmental footprints of key commodity crops on an interactive world map.
GloBioLive
The GLOBIO model is designed to inform and support policy-makers by quantifying global human impacts on biodiversity and ecosystems.GLOBIO can be used to quantify various policy-relevant dimensions of human-nature interactions, including ecosystem services and biodiversity impacts.
WaterWorldLive
A scenario testing tool for the development and implementation of land and water related policies for sites and regions globally. The tool can help understand the hydrological and water resources baseline and water risk factors associated with specific activities under current conditions and under scenarios for land use, land management and climate change.
Global Risk Assessment Services ( GRAS)Live
Third- party assessments using GIS and remote sensing technologies to move toward transparent and deforestation- free supply chains.
Global Wetlands geospatial dataLive
Geospatial wetland data, searchable by country and type of wetland.