United Utilities, the UK’s largest listed water company, has released its 2023 Sustainability Report, highlighting its commitment to addressing environmental, social, and governance (ESG) concerns.
A significant milestone in the report is United Utilities’ pioneering adoption of the TNFD (Task Force on Nature-related Financial Disclosures) beta disclosure recommendations. This makes United Utilities one of the first UK public companies to report on nature-related financial risks and opportunities using the TNFD framework, which complements their existing TCFD (Task Force on Climate-related Financial Disclosures) reporting.
The report elaborates on how United Utilities incorporates nature-related risks, opportunities, dependencies, and impacts into its business strategy and planning. It also outlines their progress and targets across four disclosure pillars: governance, strategy, risk and opportunity, and metrics and targets.
As the water sector faces increasing scrutiny over its impacts on nature, United Utilities’ adoption of the TNFD framework demonstrates its commitment to transparency and proactive management of nature-related risks and opportunities.
You can learn more about how United Utilities integrated TNFD and TCFD reporting here: sustainability-report-2023.pdf (unitedutilities.com)