Taskforce on Nature-related Financial Disclosures

Baroness Hayman of Ullock Excerpts

Tuesday 30th April 2024 Lords Chamber

[Lord Benyon (Con)]

There is a lot of talking about it but there is also a lot of action. Any day now, we will publish our forest risk commodities regulation, which will be debated by this House and will be an effective way of making sure that consumers here know that they are not using commodities that will result in rainforests being destroyed. However, there is a lot more to be done. I give the example of the Congo Basin, where I was recently. The UK is a major funder towards protecting that extraordinary, vast ecosystem which if it was allowed to collapse would impoverish all sub-Saharan Africa. It is really important that we work internationally on these matters.

[Baroness Hayman of Ullock (Lab)]

Does the noble Lord know how many UK entities or investors have already signed up to the framework and are making progress towards the appropriate disclosures?

[Lord Benyon (Con)]

I do. At the TNFD’s early adopters moment at the World Economic Forum in Davos in January, 320 institutions from 46 countries publicly confirmed their commitment to adopt the TNFD recommendations. Of those early adopters, 46 were UK- headquartered organisations, which is more than in France, Germany and the United States combined.