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Taskforce on Nature-related Financial Disclosures announces expanded consultation process, as organisation warns damage to nature poses serious threat to the long-term economic growth
The Taskforce on Nature-related Financial Disclosures (TNFD) has today announced a series of initiatives to increase its engagement with indigenous peoples, local communities, and other stakeholders, as it continues to develop recommendations for how investors and businesses should manage nature-related risks and opportunities. With more than half of global economic activity - some $44tr a year - estimated to be dependent on nature, and with the natural world being damaged or destroyed at an ever-faster rate, the TNFD said there was a serious threat to both long-term economic growth and the sustainability of the planet's resources. The TNFD framework - which is now in prototype format - aims to emulate the success of the Taskforce on Climate-related Financial Disclosures (TCFD) by establishing consistent guidelines to help corporates and financial institutions assess and disclose the nature-related risks and opportunities they are facing. The ultimate aim of the international initiative is to help to shift financial flows away from nature-negative and towards nature-positive outcomes. The new initiatives - which were launched today at the World Economic Forum in Davos, Switzerland - include a partnership with the International Union for Conservation of Nature (IUCN) to better engage with indigenous peoples and local communities (IPLCs) that "steward much of the world's natural resources and play a vital role in safeguarding nature". Tapping into the organisation's global networks and relationships over the next 12 months, TNFD said the consultation process would "ensure the voices and perspectives of IPLCs from around the globe are incorporated into the design and development phase of the TNFD Framework". Two further initiatives include four piloting programme partnerships with FSD Africa, Global Canopy, UNEP FI, and WBCSD, as well as the launch of six formal TNFD consultation groups in Australia and New Zealand, India, Japan, Netherlands, Switzerland and the UK. The new group in the UK will be convened by the Green Finance Institute. In a joint statement, David Craig and Elizabeth Mrema, co-chairs of the TNFD, said: "There is an urgent need and huge opportunity to mobilise the innovative power of finance and business to move quickly from developing one-dimensional solutions to three-dimensional solutions that address climate, nature, and social dimensions as a bundle. The TNFD is working closely with a range of other risk management and disclosure initiatives to contribute to the development of the global baseline of integrated sustainability reporting requirements that market participants are looking for. "A strong and inclusive consultation process on nature-related risk management and reporting is fundamental to our success." Efforts to develop the TNFD's nature-risk framework are led by 34 individual taskforce members, representing financial institutions, businesses, and market service providers, and supported by more than 400 institutions around the world that together constitute the TNFD Forum. A first 'beta' framework was released in March 2022, with the group now stepping up efforts to consult on its proposals and pilot how they would work in practice. FSD Africa - through the African Natural Capital Alliance (ANCA), Global Canopy, UNEP-FI, and the World Business Council for Sustainable Development (WBCSD) - has been confirmed as the first of the TNFD's piloting program partners. They will each run a portfolio of pilot tests over the next 12 months with both financial institutions and companies. With their support, the TNFD said it would pilot test all aspects of its beta framework across geographies and sectors to continue its development. Final recommendations from the Taskforce are due in September 2023. Share

TNFD taps indigenous groups to aid development of nature-related risk framework

WEBWIRE – Friday, May 13, 2022
Updates to Circular Transition Indicators framework (CTI v3.0) help companies improve their circular performance with a consistent way to measure circularity for any sector. CTI v3.0 includes new methodology for measuring reduced emissions from circular practices, two new indicators for lifetime extension and guidance for prioritizing business action. Framework developers call on businesses to adopt CTI to address global sustainability challenges and unlock USD $4.5 trillion opportunity offered by the circular economy. The World Business Council for Sustainable Development (WBCSD) published  version 3.0 of the Circular Transition Indicators (CTI)  framework. With sustainability going mainstream, there is rising pressure on companies to demonstrate circular performance. The CTI framework helps companies respond to this growing demand by providing a simple, consistent way to measure circularity for any sector and giving insights into how to reduce waste and primary resource use. The circular economy could provide  USD $4.5 trillion  in economic benefits by 2030. More and more businesses are seizing the opportunity, recognizing that the circular economy offers the mindset shift through which they can do well financially while building resilience and tackling the sustainability challenges of climate change, nature loss and growing inequality. Diane Holdorf, Executive Vice President, WBCSD, commented, Its becoming increasingly clear that circular practices will be vital to reach company climate, nature and equity goals. Since launching CTI, weve witnessed steady growth in the adoption of the framework by business organizations globally. CTI contributes to harmonizing global standards and criteria for measuring circularity by providing a common language for companies to continuously improve their circular performance"
An updated methodology
Building on the  previous version  launched in 2021, CTI v3.0 is enhanced with a new methodology to measure the impact of recycled sourcing on greenhouse gas (GHG) emissions reductions. It also comprises two new indicators to consider lifetime extension strategies and guidance to support companies in making decisions and prioritizing actions. The CTI framework is complemented by an  online tool , developed in partnership with Circular IQ, allowing companies to run multiple assessments, track their performance over time and build a solid circularity baseline. The framework and the tool are widely adopted by companies and sustainability consultants, with over 2000 users worldwide. Maayke-Aimée Damen, Director, Circular Economy, WBCSD, said, As the circular economy gains momentum, all companies must invest in learning how to measure and track their circular progress. CTI offers the key to that challenge. By providing a transparent, comparable and quantitative framework for measuring circular performance, companies can easily track their progress and have the data ready for internal decision-making and external communication. We update CTI annually to align the framework with the emerging policies and developments in reporting standards, making sure companies are prepared for disclosure.
Richard Threlfall, Global Head of KPMG IMPACT, KPMG International, said, KPMG is proud of our continuous involvement in the development of the CTI Framework v3.0. As an implementation partner, we see the added value that this framework brings to our clients to help assess circular performance, identify risks and opportunities and steer towards resilient and future-proof business practices.
Marjan Rintel Chair of the Board, NS, added, The CTI framework developed by WBCSD provides a universal global definition and measurement method to make circular entrepreneurship understandable, measurable and manageable. The framework brings us the right focus and has encouraged us to move from a waste report to an inflow- and outflow report. At this moment, e.g., we use the framework to measure the level of circularity of our trains, and to steer decision-making during procurement to achieve our goal: 100% circular trains in 2030.
CTI was first launched in January 2020, with 30 companies from 16 industries across 16 countries and representing USD $1.7 trillion in annual revenues. The framework is continuously expanded and updated in collaboration with member companies part of the WBCSD  Products & Materials Pathway . WBCSD invites businesses of all sizes and industries worldwide to start measuring their circular baseline with CTI and accelerate the transition to a circular economy. If you are interested in learning more about the Circular Transition Indicators, please contact  cti@wbcsd.org . WBCSD thanks all companies contributing to CTIs development and implementation and the CTI Advisory Group! ABB, AkzoNobel, Allnex, Aptar, ArcelorMittal, Arçelik, Bayer, Boston Consulting Group, CHEP, Circular IQ, CRH, Danone, Dow, DSM, Evonik, GSK, Greif, Honda, IFF, KPMG, Holcim, LANXESS, Mercedes-Benz, Microsoft, Novartis, NS, Philips, PTT, PwC, Rabobank, Royal Auping, SABIC, Siam Cement Group, Security Matters, Shell, Sika, Sims Limited, Solvay, Stora Enso, SUEZ, Veolia, Whirlpool
Circular Transition Indicators Advisory Group
CIRAIG, Circle Economy, Cradle to Cradle Innovation Institute, Ellen MacArthur Foundation, GRI, MVO Nederland, PACE, Sitra
( Press Release Image: https://photos.webwire.com/prmedia/6/289034/289034-1.jpg )

The linear economy is reaching the end of the line: business must adopt circularity to stay competitive

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Technology Centre Mongstad in Norway, the world's largest CCS R&D site | Credit: Gassnova
World Business Council for Sustainable Development (WBCSD) joins forces with Engie Impact in bid to scale global net zero manufacturing practices
The World Business Council for Sustainable Development (WBCSD) has teamed up with engineering giant Engie to develop a set of guidelines and principles to support manufacturers in their pursuit of net zero emissions targets, the two organisations announced last week. Over the next six months, WBCSD and Engie Impact - the French engineering and energy giant's management consulting arm - said they would bring together a host of leading sustainability experts as part of a 'Net Zero Manufacturing Masterclass' series. From the series of workshops, the partners aim to develop a set of principles that heavy industry and manufacturing firms across the world can use to rapidly scale up their decarbonisation efforts, they explained. The initiative is set to explore areas such as renewable energy sourcing strategies, tackling Scope 1 and 2 emissions, and planning for the deployment of emerging technologies such as hydrogen and carbon capture utilisation and storage (CCUS). Alexander Nick, director for climate action at WBCSD, said the masterclass series and eventual guidelines and principles would "explore current challenges on production-related carbon reduction measures, exchange best practices and identify unlocks to scale net zero manufacturing". He added that companies taking part in the workshops would gain a better understanding of how to implement a net zero roadmap that generates momentum across manufacturing sectors, and helps businesses move from planning to implementation of rapid decarbonisation strategies. Industrial decarbonisation remains one of the biggest challenges for the net zero transition, with the sector accounting for around 34 per cent of all direct and indirect global emissions, according to WBCSD. Nicolas Lefevre-Marton, Engie Impact's managing director for sustainability solutions, said that in order to meet global climate goals, action is needed within the current decade to tackle emissions from industry and manufacturing. "From ensuring raw materials are responsibly sourced, to maintaining reduced levels of energy and water consumption, industrial and manufacturing companies are facing increasing pressure to adapt processes and resources in line with global sustainability goals," he said. "Decarbonisation challenges within the industrial sector are unique and require a holistic view across multiple decarbonisation levels. In addition, industrial footprints are often distributed across multiple sites and geographies adding further barriers to decarbonisation. This masterclass with WBCSD aims to help industrial companies achieve net zero and determine the right technical approach to decarbonisation while optimising economic outcomes." Share

Engie and WBCSD team up to develop net zero industrial manufacturing principles

The World Business Council for Sustainable Development (WBCSD) in a report released on Tuesday emphasised that 100 percent electrification of e-commerce delivery fleets is possible with a conducive policy environment and greater collaboration by ecosystem partners. The report titled, ‘Advancing electrification of e-commerce deliveries in India', highlights that the e-commerce last mile is uniquely positioned to lead the electric mobility transition in India, and relevant for other global economies. This is due to the high daily utilisation, fixed pick-up points, consistency of daily kilometers travelled and the predictability of routes and energy demand of the last mile. The insights from the report should be seen in the context of several projections indicating the e-commerce sector to contribute about 3.5 percent of the country's  GDP by 2030. Its authors estimate that a 100 percent adoption of EVs in e-commerce deliveries in India by 2030 could avoid 44 percent  of the total CO2 emissions caused by their conventional vehicle counterparts and reduce consumption of 30 billion litres of fossil fuels per year. The WBCSD is a CEO-led community of over 200 of the world’s leading sustainable businesses working collectively to accelerate the system transformations needed for a net zero future. The report traces Flipkart, an e-commerce player's journey since the start of their EV pilot projects in 2017 to its efforts towards bringing ecosystem partners together and scaling the deployment of EVs across the country. Now owned by US retail giant Walmart, it is looking to transition to a 100 percent EV fleet as part of EV100 commitment which would be about 25000  units by 2030. Thomas Deloison, Director, Mobility at WBCSD said, “Some e-commerce businesses already recognise EVs as a cost improvement measure, in addition to enhancing customer satisfaction and meeting regulatory compliance.”
According to Hemant Badri, Senior Vice-President and Head of Supply Chain, Flipkart Group said, "The e-commerce delivery is growing fast in India, and we need to ensure that this progress is sustainable. By signing the EV100 commitment, Flipkart has reinforced that it has the willingness, ability and scale to guide India’s transition to sustainable e-commerce deliveries.”

Last-mile mobility can lead transition to EV mobility: Report

Bridgestone Americas is in an exclusive partnership with Carbon Capture and Transformation (CCT) company, LanzaTech NZ, Inc. to address end-of-life tyre waste. The two companies will co-develop the first dedicated end-of-life tyre recycling process leveraging LanzaTech’s proprietary CCT technology, creating a pathway toward tyre material circularity and the decarbonisation of new tyre production. According to the Tire Industry Project operating under the umbrella of the World Business Council for Sustainable Development (WBCSD), more than 1 billion tyres globally reach the end of their useful service life each year. Bridgestone and LanzaTech will work to address this issue by converting end-of-life tyres into new materials, including exploring processes to create sustainable synthetic rubber that does not rely on petrochemicals. “We are excited to join forces with LanzaTech to co-create a more sustainable pathway for end-of-life tyres,” said Paolo Ferrari, President/CEO, Bridgestone Americas. “The steps we take today are determining the health of our planet for future generations. We are determined to meet the moment with sustainable innovation that transforms the way tyres are made and promotes end-to-end material circularity.”
“LanzaTech and Bridgestone are working together to find solutions to some of our world’s greatest challenges,” said Dr. Jennifer Holmgren, CEO, LanzaTech. “We have already proven that we can convert unrecyclable, unsorted municipal solid waste to ethanol and then make products we use in our daily lives. With our partnership with Bridgestone, we are developing a circular pathway to use tires to make tyres. This partnership exemplifies what we call a Post Pollution Future.”
Bridgestone and LanzaTech seek to develop a new business model that will create a post-consumer waste management strategy for end-of-life tyres, while also driving increased adoption of sustainably sourced chemicals for commercial applications. Applying LanzaTech’s carbon capture and gas fermentation process to end-of-life tyres yields sustainably produced chemicals such as ethanol that can be converted to materials such as PET for packaging, polyester yarn and surfactants used in consumer home goods like laundry detergent. In addition, Bridgestone and LanzaTech will jointly explore opportunities to co-develop proprietary microbe technology to produce more efficient pathways to produce butadiene, a key ingredient in new tyre production. Headquartered in Skokie, Ill., LanzaTech transforms waste carbon into materials such as sustainable fuels, fabrics, packaging, and other products. Using a variety of waste feedstocks, LanzaTech’s technology platform highlights a future where consumers are not dependent on virgin fossil feedstocks for everything in their daily lives. Bridgestone is aiming to achieve carbon neutrality and make tyres from 100% renewable materials by 2050. The company is actively researching a range of solutions to support and promote the replacement of non-renewable materials such as oil, silica and virgin carbon black in new tyres. Share via:
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Bridgestone partners with LanzaTech to pursue tyre recycling

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The Partnership aims to integrate in GLOBE EU activities Sustainable Development 's groundbreaking approach to addressing these challenges while allowing GLOBE EU members to benefit from Sustainable Development 's expertise and business acumen .

WBCSD and GLOBE EU partner to promote a net zero, nature positive and equitable future - World Business Council for Sustainable Development (WBCSD)

ITRenew is an IT services company that uses a software-driven approach to delivery IT asset and data security, maximum value recovery and onsite ITAD productivity savings.On December 10th, 2021, ITRenew was acquired by Iron Mountain at a valuation between $725M and $925M.

ITRenew

Within Sustainable Development , ITRenew will be participating in the Circular Electronic Partnership , working with other experts , business leaders and global organizations to co-design circular economic solutions and streamline processes that fundamentally advance global sustainability standards and guidelines .

ITRenew joins the World Business Council for Sustainable Development to drive advancement in cross-industry progress, standards and behavioral change

Infineum offers formulation, manufacturing, and marketing of petroleum additives for lubricants and fuels. The company provides engineered engine oil additives, power transmission fluids, and refinery, pipeline, and terminal additives, fuel performance additives, biodiesel additives, and fuel borne catalysts. Infineum operates worldwide. It is based in Abingdon, England.

Infineum

`` We are incredibly excited to be joining Sustainable Development , as it provides us with a unique opportunity to collaborate with a broader range of sustainability leaders '' said Trevor Russell , Chief Executive Officer , Infineum .

Infineum joins the World Business Council for Sustainable Development.

EcoVadis provides business sustainability ratings, intelligence and collaborative performance improvement tools for global supply chains. With an advanced technology platform and a worldwide team of professionals, EcoVadis' sustainability scorecards help manage risks and transform supply chain environmental, social and ethical performance into value creation opportunities.

EcoVadis

PRI is a proponent of responsible investment. It works to understand the investment implications of environmental, social, and governance factors and to support its international network of investor signatures in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole.

Owens-Illinois

DuPont

Hewlett Packard Enterprise

The Conference Board

2TD Drilling

The World Business Council of Sustainable Development (WBCSD) is a global, CEO-led organization of over 200 leading businesses and partners, working together to accelerate the transition to a sustainable world.

Name	Work History	Title	Status
Raymond Palmen	Owens-Illinois, DuPont, Hewlett Packard Enterprise, and The Conference Board	Chief Marketing Officer	Current
Shona Grant	2TD Drilling, and BP	Managing Director	Former

Name	Raymond Palmen	Shona Grant
Work History	Owens-Illinois, DuPont, Hewlett Packard Enterprise, and The Conference Board	2TD Drilling, and BP
Title	Chief Marketing Officer	Managing Director
Status	Current	Former

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