TNFD's definitions of opportunities

Introduction

An understanding of nature-related dependencies and nature impacts, as well as shifting demand-side factors, such as consumer preferences and regulation, can inform not just corporate and investor risk management, but also growth strategy and the pursuit of commercial opportunities. These may be opportunities that significantly reduce nature-related dependencies and nature impacts and therefore risks, and/or new business models, products and services that contribute to nature-positive outcomes.

Definition

Nature-related opportunities

Activities that create positive outcomes for organisations and nature by avoiding or reducing impact on nature or contributing to its restoration. Nature-related opportunities can occur i) when organisations mitigate the risk of natural capital and ecosystem services loss and ii) through strategic transformation of business models, products, services, and investments that actively work to halt or reverse the loss of nature, including by implementation of nature-based solutions (or support for them through financing or insurance).

TNFD (2021) Nature in Scope

Definition

Natural-climate solutions

A subset of nature-based solutions, natural-climate solutions include conservation, restoration, and improved land and sea management that increase carbon storage and/or avoid greenhouse gas emissions, enhance resilience, and assist climate adaptation across global forests, wetlands, mangroves, grasslands, and agricultural lands and other habitats.

Girardin, C et al (2021) Nature based solutions can help cool the planet — if we act now; Griscom, B et al (2017) Natural climate solutions

Definition

Nature-based solutions

Actions to protect, sustainably manage and restore natural or modified ecosystems that address societal challenges effectively and adaptively, simultaneously providing human well-being and biodiversity benefits.

IUCN (2020) The IUCN Global Standard for Nature-based Solutions

Opportunities encompass a wide range of actions, such as the protection and management of ecosystems, the incorporation of green and blue infrastructure in urban areas, and the application of ecosystem-based principles to agricultural systems. The concept is grounded in the knowledge that healthy natural and managed ecosystems produce a diverse range of services on which human wellbeing depends, from storing carbon, controlling floods, and stabilising shorelines and slopes, to providing clean air and water, food, fuel, medicines and genetic resources.

Nature-related opportunities will vary according to the region, market, and industry in which an organisation operates.

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