Latest News | Tata Steel CFO Chatterjee Joins London-based Taskforce on Nature-related Financial Disclosures

New Delhi, Sep 30 (PTI) Tata Steel Chief Financial Officer (CFO) Koushik Chatterjee has joined the Taskforce on Nature-related Financial Disclosures (TNFD), according to a company statement.

London-based TNFD forum is a global multi-disciplinary consultative group of institutions.

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TNFD aims to provide a framework for organisations to report and act on evolving nature-related risks, in order to support a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes.

"Koushik Chatterjee, ED (executive director) and CFO of Tata Steel, along with other senior executives from across financial institutions, other corporates and market service providers representing major global markets have joined the TNFD as its members," it said.

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The 30 taskforce members have been selected for their individual subject-matter expertise across nature and finance that can support TNFD's mission.

The members represent sectors with the largest impact and dependencies on nature, such as agribusiness, the blue economy, food and beverage, mining, construction, infrastructure and others, and are globally representative coming from 14 countries across five continents.

T V Narendran, CEO and MD of Tata Steel, said, "I fully support Tata Steel and Koushik's association with TNFD, which will drive more effective and practical measurement, mitigation and solutions for nature-related risks, something that is essential for the sustainability of our planet, our economies and our businesses."

TNFD co-chairs, Elizabeth Mrema and David Craig, said, "While the importance and urgency of our work is clear, so is the complexity of the challenge ahead for the TNFD. The TNFD initiative is by the market for the market. We are looking forward to immediately starting the work with our taskforce members."

Each taskforce member will be part of at least one of five initial working groups through which the specific and technical work will begin to develop the TNFD framework.

The five working groups will focus on defining nature-related risks, data availability, landscape of standards and metrics, development of a beta framework, and pilot testing and integration. hrs hrs

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