Nature: What CPAs need to know
Organizations are dependent on nature for their survival and wellbeing. With an increased focus on the topic of nature by governments, standard setters, investors and others, it is critical that CPAs are able to effectively navigate a rapidly evolving landscape. These resources will help accountants from all professional backgrounds become leaders at their organization and better understand, manage and report on the dependencies, impacts, risks and opportunities related to nature.
Taskforce on Nature-related Financial Disclosures
The Taskforce on Nature-related Financial Disclosures (TNFD) is market-led, science-based, risk management initiative, consisting of 40 individual task force members representing financial institutions, corporations and market service providers with over US$20 trillion in assets. The TNFD has released disclosure recommendations and guidance to encourage and enable organizations to assess, report and act on their nature-related dependencies and impacts that create risks and opportunities. Visit the TNFD’s website to find out more.
Get involved in the TNFD community
The TNFD Forum is a platform where organizations can keep up-to-date on the TNFD’s work, contribute to development of its guidance, and signal their support. Membership of the forum is free and open to a broad range of organizations.
There is also a growing network of national and regional consultation groups designed to support awareness of the TNFD’s work, identify current knowledge and understanding gaps on nature-related issues and build capacity for nature-related reporting across markets. CPA Canada is proud to be a Co-convener of the Canadian Consultation Group for the TNFD, along with the Institute for Sustainable Finance.
You can check out our TNFD Webinar Series to develop baseline knowledge on the importance of nature-related reporting:
Part 1: Why nature-related reporting is so vital and how your business can get started
Part 2: Identifying the ingredients for widespread adoption in Canada
If you are interested in joining the Canadian Consultation Group or require further information, email [email protected].
You can also expand your knowledge of nature-related issues with CPA Canada’s resources below.
A primer on nature
Understanding how nature and organizations are connected is a new concept for many and there is a need to better understand the core concepts, current landscape and how CPAs can take a leading role in this space.
Key takeaways of publication:
- key concepts related to nature and biodiversity, and how an organization’s financial performance and long-term viability are dependent on them
- current landscape and recent developments, including Canadian government commitments and shifting investor expectations
- the link between climate and nature
- movement towards a global baseline for disclosures on sustainability matters
- calls to action for CPAs
Valuing natural capital: Is it on your radar?
With nature scoring high on the agenda of policymakers, it is important for the CPA to learn about approaches and methods available to assign economic value to the many benefits that natural resources, natural assets, natural infrastructure, biodiversity and ecosystems deliver to society, the economy and the environment.
Key takeaways of publication:
- essential conceptual considerations
- methods, tools, and resources for the valuation of natural capital
- how CPAs can help organizations lead the way in accounting for nature