Nature Data Value Chain Recommendations
The Taskforce on Nature-related Financial Disclosures (TNFD) releases nature data value chain recommendations, aimed at exploring how to address global natural data challenges.
TNFD believes that natural data is a public good that requires collaboration among various stakeholders along the value chain to enhance quality, accessibility, and timeliness.
Related Post: TNFD Releases Global Natural Data Report
Global Natural Data Background
Despite the rapid development in the field of natural data collection and analysis this year, the value chain of natural data is still fragmented and lacks high-quality, decision-making data that market participants need. According to the Global Biodiversity Framework (GBF), the current global natural financing gap exceeds $900 billion annually. In the face of reduced natural resources, natural data can help regulatory agencies, enterprises, and financial institutions manage risks, enhance resilience, and achieve sustainable growth.
In 2024, TNFD released a roadmap for nature data, involving 120 data samples provided by over 40 data providers and tested by 25 natural data users. The roadmap aims to assess participants’ needs for natural data and provide relevant recommendations. Some suggestions can be directly implemented by participants, while others require natural related financing.
Introduction to Nature Data Value Chain Recommendations
To cope with nature friendly transition and promote natural investment, the recommendations provided by the TNFD are as follows:
- Global Natural Data Principles: Participants adopt a set of natural data principles globally to reduce user concerns about data quality and consistency.
- Universal metadata requirements: Natural data collectors and aggregators should provide standardized metadata to improve data transparency.
- Consistent data licensing and user agreements: Addressing users’ concerns about data costs in the natural data value chain.
- Nature Data Public Facility: Providing global natural data for corporate financial institutions to benchmark and disclose natural issues.
- Enterprise natural data exchange: Providing incentive mechanisms for enterprises to provide data through natural data public facilities.
- Nature Data Trust: Raising and distributing funds for value chain data collection and quality improvement processes through data trust.
- Natural data measurement system: Referring to the greenhouse gas measurement system (GHG Protocol), supporting standardization and consistency of natural data measurement.
- Natural Data Sharing Protocol: Reducing the cost and complexity of collecting and sharing data in the value chain, helping businesses understand upstream and downstream natural information.
Reference:
Recommendations for Upgrading the Nature Data Value Chain for Market Participants
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