EcoVadis has joined the TNFD Forum, a multi-disciplinary coalition of institutional supporters who share the vision and mission of the Taskforce for Nature-related Financial Disclosures. Members of the Forum will actively contribute to market adoption of an integrated nature risk management and disclosure framework that promotes better decision making for corporates and financial institutions, and builds upon the existing structure of TCFD.
EcoVadis’ sustainability ratings and scorecards allow organizations to manage material nature-related risks through comprehensive insight and intelligence on corporations’ actions to mitigate the key drivers of nature and biodiversity loss. Covered in the Environment theme within the EcoVadis Methodology, the Biodiversity criterion covers impacts from direct operations with significant land and sea use change and invasive species risks. Beyond the Biodiversity criterion, all key drivers of nature loss are covered through additional criteria: Energy Consumption & GHGs, Water, Air Pollution and Materials, Chemicals and Waste, and Supplier Environmental Practices. These criteria are “activated” based on a materiality model that is built-in to the assessment engine according to industry, country and size. As part of the holistic sustainability assessment and improvement platform, EcoVadis supports organizations in key aspects of the TNFD LEAP Assessment framework through prioritizing and evaluating impacts, risks, and opportunities within their supply chain.
Nature and biodiversity is a central pillar of the EcoVadis assessment, contributing to an overall understanding of a company’s exposure to sustainability risk.
By joining the Forum, EcoVadis signals its commitment to facilitate global adoption of the Framework and to prioritize methodology evolutions that support the nature-positive targets of the Global Biodiversity Framework.
