The data provides guidance on how financial institutions can respond to nature data challenges. The report also outlines how to launch the Nature Data Public Facility (NDPF) proposed by the TNFD in 2023.
,The recommendations:
,David Craig, Co-Chair of the TNFD, said: “The nature data value chain is at a critical inflection point. While the nature-related assessment and reporting flywheel has now begun to turn and demand for high-quality nature data continues to grow exponentially, trust and confidence in state-of-nature data remains a significant issue.
,“At the same time, upstream data collectors and aggregators on the front line need more funding to support their critical work. State-of-nature data is a strategic public good of global importance, but it urgently needs a set of global commons mechanisms to drive an upgrade in the quality and timeliness of the nature data that everyone is looking for.”
,Tasso Azevedo, general coordinator of MapBiomas in Brazil, commented: “Financing effective action to tackle global climate change and to halt and reverse nature loss needs to mobilise the private sector and high-quality data is the lifeblood for effective risk management and capital allocation decision making. These recommendations give a pathway for a practical and scalable application throughout the whole-of-value-chain, amplifying the understanding of the world’s state-of-nature data.”
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