Keynote Speaker: Emily McKenzie, Technical Director at the Taskforce on Nature-Related Financial Disclosures

Emily McKenzie

Emily McKenzie, Technical Director at the Taskforce on Nature-Related Financial Disclosures (TNFD), was our keynote speaker at envecon 2022.

Emily’s experience in conducting high-quality, high-impact projects using applied environmental economics is unmatched. We were incredibly fortunate - and excited – to have her as our keynote speaker.

At TNFD, Emily is working to support a shift in global financial flows toward nature-positive outcomes. While working for the UK government, Emily led the analytical team which produced the Independent Dasgupta Review on the Economics of Biodiversity. Prior to this, she helped design the Environmental Land Management Scheme at Defra. Emily also helped develop the Capitals Coalition’s Natural Capital Protocol and worked in the WWF Global Science team for a decade, where, among many other projects, she established and led the Natural Capital Project at Stanford University.

The Taskforce on Nature-related Financial Disclosures (TNFD) released the first version, a beta release, of its framework on 15 March. TNFD’s Technical Director, Emily McKenzie, took the audience through TNFD’s mission and vision. She outlined the way the framework is set up and dove into its three main components. These are:

  • A set of fundamental concepts and definitions for understanding nature and nature-related risks
  • A draft set of recommended nature-related disclosures that are closely aligned with the disclosures for climate-related risks produced by the Task Force on Climate-related Financial Disclosures (TCFD)
  • Prototype guidance for corporates and financial institutions to support their internal assessments of nature-related risks and opportunities

During the presentation, Emily showed how the TNFD framework aligns with and builds on existing initiatives as well as those that are under development, such as the Global Biodiversity Framework (GBF) and a global baseline of sustainability reporting standards led by the International Sustainability Standards Board (ISSB). She also spoke about TNFD’s open innovation approach, how market players can test the framework, and the upcoming iterations of TNFD’s framework that are due to be released in June 2022, October 2022, and February 2023. This iterative approach based on market testing will help maximise the relevance, usability, and effectiveness of TNFD’s final recommendations released in Q3 2023.