The Global Taskforce on Nature-Related Financial Disclosures (TNFD) Appoints Razan Al Mubarak as Co-Chair

By Climate Champions | July 1, 2024

Razan Al Mubarak to help lead efforts to embed the Taskforce’s recommendations on global corporate reporting

Abu Dhabi, United Arab Emirates (27 June 2024) – Her Excellency Razan Khalifa Al Mubarak, President of the International Union for Conservation of Nature (IUCN), has joined the Taskforce on Nature-Related Financial Disclosures (TNFD) as Co-Chair.

Ms. Al Mubarak, who also serves as the UAE Climate Champion for COP28, will be working alongside David Craig, founder and CEO of Refinitiv, one of the largest data and technology platform providers to financial markets operating in over 160 countries. Ms. Al Mubarak is replacing Elizabeth Maruma Mrema, Deputy Executive Secretary of the United Nations Environment Programme (UN Environment), who stepped down as Co-Chair in March given the growing demands of her responsibilities at the UN.

The TNFD was launched in June 2021 with the support of the G20 Sustainable Finance Working Group and financial support from governments and philanthropic foundations. The 40-member taskforce has developed a set of disclosure recommendations and guidance for business and finance to assess, report and act on their nature-related dependencies, impacts, risks and opportunities. Following the release of the corporate reporting recommendations in September 2023, the TNFD is now focused on encouraging voluntary market adoption. It is also supporting efforts to address the knowledge, capacity building and data needs of market participants.

Elected IUCN President in 2021, Razan Al Mubarak is the first woman from the West Asia region to lead the organization in its 72-year history and its first Arab president since 1978. As the UN Climate Change High-Level  Champion for COP28, she has  global business and finance engagement, advocating for a more integrated and holistic approach to practical action on climate change with nature at its heart.

In her new capacity as Co-Chair, Ms. Al Mubarak will help lead the Taskforce’s efforts to embed the TNFD recommendations in the global corporate reporting architecture aligned with the commitment of over 190 governments around the world to Target 15 of the Global Biodiversity Framework.

“I am honored to be stepping into the role of Co-Chair of the TNFD at this critical juncture. COP28 highlighted that business and finance now accept that climate change and nature loss are not separate challenges, but inextricably linked as integrated planetary systems. We can’t get to net zero without nature,” she said.

Businesses and financial institutions of all sizes across all sectors and geographies need to start managing their interface with nature as their most important supply chain and value creation partner.”

David Craig, who has served as Co-Chair since the TNFD was established in June 2021, has welcomed Ms. Al Mubarak to the Taskforce and thanked Elizabeth Mrema:

“I am delighted to welcome Razan to the TNFD as my Co-Chair for this next phase of TNFD’s mission to align to global reporting standards and build market confidence and capabilities to take action in the face of accelerating nature loss. As was the case with Elizabeth Mrema’s leadership of the CBD Secretariat and her stewardship of the landmark Kunming-Montreal Global Biodiversity Framework throughout the first phase of our work, the TNFD will benefit from Razan’s lifelong commitment to conservation and biodiversity and her global leadership and tireless advocacy at the nexus of climate and nature challenges as President of the IUCN and as COP28 Climate Champion.”

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Notes to Editors

For inquiries in English, please contact Kirk Duthler (kduthler@mbzf.org or +971 50 780 7401). For inquiries in Arabic, please contact Maya Korayem (mkorayem@mbzf.org or +971 50 235 3141)

About Razan Al Mubarak

Elected President of the International Union for Conservation of Nature (IUCN) in September 2021, Razan Al Mubarak is the second woman to lead the organization in its 75-year history and its first president from West Asia. She also served as UN Climate Change High-Level Champion for the leadership team of COP28 UAE, which took place in Dubai from November 30 to December 12, 2023. For more than 20 years, Razan has played a vital role in guiding the United Arab Emirates toward a more sustainable future while spearheading progressive environmental protection, species conservation, and climate action across West Asia and globally. Her diverse experience leading the largest environmental regulatory agency in the Middle East, an international philanthropic organization supporting species conservation projects worldwide, and an NGO focused on citizen engagement earned her recognition as one of the top 100 Young Global Leaders by the World Economic Forum in 2018. For more information visit: https://www.razanalmubarak.com

About the Taskforce on Nature-Related Financial Disclosures (TNFD)

The Taskforce on Nature-related Financial Disclosures (TNFD) is a market-led initiative launched in June 2021 with support from the G20 Sustainable Finance Working Group and funded by various governments and philanthropic organizations. TNFD provides tools for organizations to address nature-related issues and has developed recommendations and guidelines to help businesses and financial institutions integrate nature into their decision-making processes. These efforts aim to redirect global financial flows towards nature-positive outcomes, in alignment with the Global Biodiversity Framework. After extensive development and consultations, TNFD released its final recommendations in September 2023 and is now promoting voluntary adoption and supporting capacity building. The taskforce consists of 40 senior executives from major financial and corporate entities and is supported by 20 knowledge partners and over 1,500 institutional members. More than 360 organizations worldwide have committed to reporting based on TNFD’s guidelines.