Razan Khalifa Al Mubarak, President of the International Union for Conservation of Nature and the UN climate lead at COP28, has joined the Task Force on Nature-related Financial Disclosures (TNFD) as Co-Chair.
In her new role, she will help lead efforts to integrate the recommendations of the Working Group on Nature-related Financial Disclosures into the scientific framework for institutional reporting, in line with the commitment of more than 190 governments around the world to Target 15 of the Kunming-Montreal Global Biodiversity Framework.
Razan Al-Mubarak said on this occasion: “I am honored to assume the position of co-chair of the working group on nature-related financial disclosures at this critical stage, as the Conference of the Parties (COP28) witnessed a major shift in the position of companies and financial institutions, as everyone became fully aware of the connection and connection between… Climate change and nature loss are two sides of the same coin, and we have an urgent need to preserve and restore nature in order to achieve climate neutrality, and companies and financial institutions of all sizes and activities around the world must reconsider their dealings and dependence on nature as the most important partner within the supply chain and to achieve added value.”
Her Excellency will work in cooperation with David Craig, founder and CEO of Revintitive, one of the largest companies providing data and technology platforms for financial markets in more than 160 countries. He succeeds Elizabeth Maroma Mrema, Deputy Executive Director of the United Nations Environment Programme.
For his part, David Craig, who has served as co-chair since the establishment of the Task Force on Nature-Related Financial Disclosures in June 2021, expressed his delight at the addition of His Excellency Razan Al-Mubarak to chair the Task Force on Nature-related Financial Disclosures at this crucial stage in our mission focused on achieving consensus. With global standards for reporting and disclosures, enhancing market confidence and capabilities to take effective action to address the growing challenges of accelerating nature loss.
Similar to Elizabeth Mrema’s leadership of the Secretariat of the Convention on Biological Diversity and her oversight of the Kunming-Montreal Global Biodiversity Framework during the first phase of our work, the Working Group will benefit from the commitment and dedication of the new Group Co-Chair to nature and biodiversity conservation, and her global leadership and tireless advocacy in connecting the challenges of Climate and nature work together, in her capacity as President of the International Union for Conservation of Nature.
The working group on nature-related financial disclosures, consisting of 40 members, was launched in June 2021 with the support of the Sustainable Finance Working Group of the G20 and with financial support from governments and philanthropic institutions. It developed a set of recommendations and guidance with the aim of helping companies and financial institutions to evaluate and disclose… Its dependence on nature and natural resources, and the resulting effects, risks and opportunities, submitting the necessary reports and taking appropriate measures.
Following its issuance of recommendations for preparing corporate reports in September 2023, the working group is currently focusing on promoting the voluntary adoption of these recommendations by companies and institutions, and supporting special efforts to meet needs in the field of knowledge, capacity building and data.
Razan Al-Mubarak is considered the first woman from the West Asia region to be elected to the presidency of the International Union for Conservation of Nature in 2021 in the Union’s 75-year history, and the first Arab president since 1978. She seeks, by taking advantage of her deep experience and knowledge in the field of business and financial affairs, to follow… A comprehensive and integrated approach for practical action on climate change, with nature at the heart of climate action.
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