Include nature in corporate sustainability reporting and transition planning
An overview of the RSPB’s position on nature-related disclosures, transition planning and action from corporates.
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Nature must not be forgotten in business reporting
The RSPB’s position on nature-related disclosures, transition planning and action from corporates is available for download now. This is UK-focused and includes the RSPB’s position on the Taskforce for Nature-related Financial Disclosures (TNFD), the UK Sustainability Reporting Standards (UKSRS) and mandating corporate transition plans in the UK.
Why we need business action for nature
Our economies, livelihoods and wellbeing all depend on our most precious asset: nature. As put in the Dasgupta Review, the solution starts with understanding and accepting a simple truth: our economies are embedded within nature, not external to it [1]. A nature positive, net zero economy will not be reached without significant action from the private sector and business.
All businesses must recognise that they exist within nature and rely upon it to succeed. Some businesses have already made significant progress in embedding nature-related information into their strategies, but this practice must be adopted more widely. Recent reports, including the Green Finance Institute's 2024 analysis [2], highlight that damage to the natural environment is already slowing the UK economy and could lead to a 12% reduction in GDP, surpassing the economic impact of the 2008 financial crisis and COVID-19.
Bringing TNFD, UKSRS and corporate transition planning together
This RSPB policy position explains views on the Taskforce for Nature-related Financial disclosures (TNFD), the UK Sustainability Reporting Standards (UKSRS) and corporate transition planning. The UK Government is currently developing the UKSRS. These are based upon the globally-recognised ISSB’s IFRS S1 (Sustainability) and S2 (Climate) standards. Alongside this, they are developing their stance on mandatory disclosure of transition plans for corporates and a regime for oversight of assurance for sustainability disclosures.
The RSPB calls on the UK Government to ensure that nature is prioritised alongside climate within these standards and calls on business to assign appropriate resource to understanding their nature-related dependencies, impacts, risks and opportunities, disclose these and prepare nature transition plans in response.