Publication
Increasing Coherence Between Disclosure Standards and Frameworks on Biodiversity in G20 Countries | ThinkTwenty (T20) Brasil 2024 – Official Engagement Group of G20
September 19, 2024 - This T20 Policy Brief presents targeted recommendations to increase the coherence between biodiversity frameworks and standards, whilst keeping ambition levels high. The issue is extremely important for the effective transformation of the economic system and business models towards a greener, more inclusive economy and an equitable, nature-positive world. Our recommendations stem from comprehensive overview of the state of disclosure for nature and biodiversity in the G20 countries.The recent adoption of the Kunming-Montreal Global Biodiversity Framework (GBF) marked a significant milestone for halting and reversing biodiversity loss. Its action Target 15 addresses transnational companies and financial institutions, encouraging them to monitor, assess, and disclose biodiversity risks, dependencies, and impacts. As biodiversity disclosure frameworks and standards evolve, harmonization becomes paramount. The users of disclosure information seek to systematically assess and incorporate risks and impacts into their decision-making. To do this, they need reliable and comparable data, but substantial inconsistencies and ambition gaps between disclosure standards and frameworks hinder comprehensive understanding and action on firms’ sustainability performance. Further, firms…
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