This blog post explores some of the recent key regulatory developments in the UK, EU and globally and provides an update on the trends we expect to see in the biodiversity and nature regulatory space over the coming months.

The TNFD announced on 28 June 2024 that there has been a notable 30% increase in TNFD early adopters since the first list was released in January 2024 (i.e. an additional 96 organisations), bringing the total number of adopters so far to 416 organisations (see TNFD press release).

Regulation (EU) 2024/1991 of the European Parliament and of the Council of 24 June 2024 on nature restoration and amending Regulation (EU) 2022/869, commonly referred to as the “Nature Restoration Law”, was published in the Official Journal of the EU on 29 July 2024.

The International Sustainability Standards Board (ISSB) has said that it will commence projects to research disclosure about risks and opportunities associated with:

• biodiversity, ecosystems and ecosystem services; and
• human capital.

On 20 June 2024, the Taskforce on Nature-related Financial Disclosures (TNFD) and the European Financial Reporting Advisory Group (EFRAG) have jointly published a Correspondence Mapping for the European Sustainability Reporting Standards (ESRS) under the Corporate Sustainability Reporting Directive (CSRD) and the TNFD’s recommended disclosures.

The Global Reporting Initiative (“GRI”) and the Taskforce on Nature-related Financial Disclosures (“TNFD”) have together published an interoperability map and guidance document which show that the TNFD Disclosure Recommendations and the GRI Standards, including the GRI 101: Biodiversity 2024, are highly aligned.

On 10 July 2024, the Science Based Targets Network's (SBTN) released its guidance on setting science-based targets for nature (the “Guidance”), which provides a structured and comprehensive guide for businesses aiming to set nature-based targets and to better understand a company’s impacts and dependencies on nature.

What companies need to know about the final TNFD Recommendations - In this podcast, Kim Rybarczyk and Jon Tan discuss the TNFD final recommendations, including what the framework means for businesses and how it fits in with existing climate reporting frameworks.

TNFD publishes final recommendations for nature-related risk management and disclosure - This blog post provides an overview of what businesses need to know about the TNFD framework. 

TNFD publishes fourth and final draft framework on nature-related risks - The Taskforce on Nature-related Financial Disclosures has published its fourth, and final, draft framework for the management and disclosure of nature-related risks and opportunities.

In this blog post we take a high-level look at some of the recent regulatory developments in the UK and EU, at what trends can be identified, and what businesses should be thinking about now.  

This blog post focuses on the food waste, textile waste and soil proposals.

The EU Deforestation Regulation was published in the Official Journal of the EU on 9 June 2023 and comes into force on 29 June 2023.

The Commission had consulted on the draft Taxonomy Delegated Acts in April-May this year.

COP15: outcome of global biodiversity summit - The main aim of COP15 was for nations to agree on a post-2020 global biodiversity framework with targets and actions on tackling nature and biodiversity loss.

Biodiversity and COP15: the Big Picture - Read our publication to find out more about the importance of biodiversity, COP15 and the GBF and some of the associated challenges.

Biodiversity and COP15: the Big Picture Podcast - In this podcast, Kim Rybarczyk and Claudia Harper discuss COP15 and the GBF and what it means for businesses.

On 3 December, the Department for Environment, Food and Rural Affairs published a consultation on the implementation of this regime. The consultation closes on 11 March 2022 and will feed into the development of the necessary regulations and accompanying guidance. 

As governments, conservationists and companies approach COP 15, this full-day event looked at how the sector has been factoring biodiversity and nature into operations so far, and how tech can make a difference in conservation and the illegal wildlife trade.