As part of our continued effort to help organizations tackle the growing effects of climate change, Gro has joined the stakeholder Forum of the Taskforce on Nature-related Financial Disclosure (TNFD), a market-led initiative aimed at developing a risk management and disclosure framework to help organizations manage and report on nature-related risks.
As a TNFD Forum member, Gro will be working alongside 400 other organizations to help financial institutions and companies assess nature-related risks and opportunities and incorporate these assessments into their long-term strategies and risk planning.
Leveraging the Gro platform to manage climate change impacts
According to the World Economic Forum (WEF) report, published in collaboration with PwC, over half the world’s total GDP is dependent on nature and its services, and the three largest nature-dependent industries are construction, agriculture, and food and beverage.
Under all climate change scenarios shown by the Intergovernmental Panel on Climate Change, these industries will increasingly face significant risk of physical climate impact in coming years. To manage that risk, companies must first measure it.
Gro works directly with companies in both the agricultural and the food and beverage industries to help form a clearer picture of the effect that extreme weather volatility is having, and will continue to have, on the places and ecosystems that they care most about. Our customizable models and applications, such as our Climate Risk Navigator for Agriculture, leverage real-time data and long-term climate indicators to accurately measure and assess climate risk.
"If we have these persistent shocks that are occurring from a climate standpoint, it doesn't mean we can't manage them. It just better mean that we know how to measure them consistently and for the whole world and every day,” Gro Intelligence's CEO, Sara Menker, said recently at the 2022 World Agri-Tech Innovation Summit.
About The Taskforce on Nature-related Financial Disclosures
The potential social and economic effects of climate change are staggering, but through its work the Taskforce on Nature-related Financial Disclosure is supporting a shift to nature-positive outcomes by helping organizations manage nature-related risks and recognize that nature can also be used to reduce climate risk and deal with the causes of climate change.
The TNFD aims to release a framework for reporting and managing nature-related risks by Q3 2023.
Please reach out to us at email@example.com to schedule a conversation with our team and learn more about our work with the TNFD.