"Chinese companies pilot nature-related disclosures" 5 June 5, 2024

At the Davos World Economic Forum in January, 320 businesses and investment institutions representing 46 different countries announced they would start disclosing their impacts on nature. They did so in line with recommendations from the Taskforce on Nature-related Financial Disclosures (TNFD), a global initiative that last year released its framework for nature-related corporate disclosures...

Some Chinese firms are already on board. On 22 April, the Mengniu Dairy Group became the first Chinese company to publish a full nature-focused report in line with TNFD recommendations. A little before that, tech giant Tencent had also disclosed some TNFD-based nature-related information in its annual ESG (environment, social and governance) report...

Huang Changtong, the China specialist for Farm Animal Investment Risk and Return, an initiative that raises awareness of sustainability in the global food sector, says Mengniu made full disclosures of nature-related issues in its own operations and part of its supply chain, in line with the TNFD’s four-pillar framework...Under the “metrics and targets” heading, Mengniu set climate- and nature-related goals. These include achieving carbon neutrality by 2050, and zero deforestation and 100%-responsible palm oil procurement by 2030...Huang adds that while Mengniu’s report lacked some details, it was “an excellent start.” He explains that for many listed agricultural firms, nature-related risks still mean little more than compliance with environmental regulation....