New TNFD-Aligned Model Guidance Helps Stock Exchanges Integrate Nature Risks. ESG Broadcast Shares Key Takeaways.
Key Extract
On September 30, 2025, The Taskforce on Nature-related Financial Disclosures (TNFD) and the UN Sustainable Stock Exchanges (SSE) Initiative jointly released model guidance on nature-related financial disclosures. This new Model Guidance served as a comprehensive template for stock exchanges worldwide on nature-related financial reporting. This document assists exchanges in helping their listed issuers. It clearly addresses growing investor demand for transparency.
Accelerating global nature loss greatly undermines business resilience, posing material risks to both companies and their investors. More than half of global Gross Domestic Product (GDP) shows moderate or high dependence on nature and its essential vital services. Investors increasingly viewed nature loss as a core material financial risk. Companies need to understand their dependencies and impacts. Stock exchanges hold a vital position at the intersection of regulators, companies, and investors for market education. The new template provides resources, guidance, and training toolkits for issuers to integrate these complex nature considerations. The guidance largely drew upon the globally endorsed TNFD recommendations. The framework assists organizations in managing risks and finding new opportunities.
Anthony Miller, Chief Coordinator, UN SSE said, “The SSE is proud to have developed the new “Model Guidance on Nature-related Financial Disclosures” in partnership with the TNFD. This guidance offers stock exchanges and listed companies a practical toolkit to turn ambition into action. By aligning with the TNFD and other emerging global frameworks, it supports high-quality, decision-useful reporting that enables financial markets to better consider nature-related financial risks and opportunities. Clear and consistent disclosures can help direct capital toward investments that protect and restore nature, building resilience and long-term value for investors and markets.”
Tony Goldner, CEO, TNFD said “Stock exchanges play a crucial role in preparing their markets for developing and disclosing nature-related information. With investor demand for nature-related information only increasing, we hope this guidance will help stock exchanges support their issuers with understanding and integrating nature-related considerations beyond climate change into their capital allocation decisions.”
The framework’s structure aligned with the TCFD and the ISSB, ensuring consistent reporting across various international standards. Its development strongly reflected regulatory momentum, aligning with Target 15 of the Kunming-Montreal Global Biodiversity Framework. This crucial goal demands that large companies disclose their biodiversity-related risks. Over 620 organizations already committed to making TNFD-aligned disclosures.
Strategic significance lies in creating a globally consistent baseline for nature-related financial information across different capital markets. This crucial model guidance empowers exchanges to guide their respective markets toward informed and nature-positive financial decision-making. Exchanges can now easily adapt this detailed template for their local context. This standardization facilitates capital flows for a more sustainable future.
