Luontoa provided training for Finnish banks, asset managers, and investors to become experts in TNFD nature reporting as part of a training program organized by Sitra, in collaboration with the UK-based consultancy company The Biodiversity Consultancy.
The program, which took place over the autumn, provided financial sector entities with a comprehensive understanding of the links between business and nature. Participants learned to use various tools to assess the nature-related impacts of industries, companies, and business operations. They also explored scenario analyses related to nature risks and developed action plans for their organizations to better incorporate nature considerations into their operations.
“The financial sector plays a crucial role in steering companies toward more sustainable operations within the planet’s ecological boundaries. Large investors and financiers can accelerate the transition from nature-harming business activities to more sustainable solutions through their own policies. The financial sector is becoming increasingly aware of nature-related risks and how these can materialize financially. This awareness is a powerful driver of change,” says Luontoa’s CEO, Inka Musta, who was one of the program’s trainers.
Many businesses are directly dependent on ecosystem services provided by nature, such as clean water, raw materials, and pollination—essential for industries like food production and construction. At the same time, the risks caused by biodiversity loss—such as reduced availability of raw materials or supply chain disruptions caused by extreme weather events—can significantly impact companies’ profitability. Therefore, nature-inclusive business practices are not just a reputation management tool but a means to ensure competitiveness and resilience in the future.
What is TNFD?
The Taskforce on Nature-related Financial Disclosures (TNFD) is a framework that enables organizations to assess and report their nature-related impacts, dependencies, risks, and opportunities. While the use of TNFD is voluntary, it also supports compliance with mandatory reporting obligations, such as the EU Corporate Sustainability Reporting Directive (CSRD), and the Sustainable Finance Disclosure Regulation (SFDR).
The final report of the training program has been published and is available on Sitra’s website in English.
Luontoa provides expert services for financial sector actors and businesses looking to successfully integrate nature and business. Contact us if you need support in assessing the nature impacts of your organization or project, calculating your nature footprint, or developing a positive nature handprint!