BAT signs up as an Early Adopter of the TNFD

The TNFD has developed a set of voluntary disclosure recommendations and guidance for organisations to assess, report and act on in relation to evolving nature-related dependencies, impacts, risks and opportunities.

Unlike climate change, where the ultimate metric is greenhouse gas emissions, there is as yet no equivalent metric to measure biodiversity. Challenges in nature are location-specific, and an adverse action for biodiversity can have different impacts depending on the location and the significance of the ecosystem. This is why tools that help companies standardise reporting, such as TNFD, are so important.

Donato Del Vecchio, Chief Sustainability Officer said “BAT has a global footprint and relies on natural resources to run its business. We also have a responsibility to wider society to manage our impacts on the environment. That’s why we strive for excellence in environmental management, including aligning early with TNFD’s latest guidance and recommendations. We see the TNFD framework as a tool to improve information on nature to drive the right actions.”

The TNFD Early Adopter list includes organisations that have declared their intention to start making disclosures aligned with the TNFD Recommendations in their corporate reporting by the financial year 2024 or 2025. BAT will start making disclosures aligned with the TNFD recommendations in our corporate reporting for financial year 2024.

According to the TNFD, these recommendations and guidance enable business to integrate nature into decision making. Business and financial institutions can have both negative and positive impacts on nature and the TNFD approach to measurement includes metrics that reflect this. Distinct from mitigating negative impacts on nature is the opportunity for business and finance to contribute to positive change in the health and resilience of nature through conservation and restoration, thereby contributing to nature-positive outcomes. Click here  to read more about why nature matters and what role the TNFD plays in this.

Explore the full list of inaugural TNFD Early Adopters: https://tnfd.global/engage/inaugural-tnfd-early-adopters/