The Taskforce on Nature-related Financial Disclosures (TNFD) counts 836 committed adopters across 57 countries, a 14% increase in less than a year, as nature-related corporate reporting moves from voluntary framework to standardized regime.

The new adopter figure includes financial institutions representing more than $26 trillion in assets under management and publicly listed companies accounting for over $10.5 trillion in market capitalization. The numbers matter less as a pledge count and more as a baseline: this is the cohort that will either convert commitment into disclosure, or will not.

What does the 836 actually represent?

Commitment and disclosure are separate categories, and the TNFD's own data draws the line clearly. Beyond the 836 committed organizations, more than 1,100 organizations are already making one or more nature-related disclosures aligned to the TNFD recommendations.

The depth of that disclosure remains uneven. The global average sits at 8 of the 14 recommended disclosures. Half a framework, in other words, is the current median performance. For the materials and waste sectors — where dependencies on land, water and biodiversity are physical rather than reputational — partial disclosure will not survive contact with mandatory standards.

Why is the TNFD winding down its own program?

The taskforce confirmed that its updated recommendations and LEAP guidance complete its assessment and disclosure development work programme. The organization launched LEAP 2.0, its updated guidance for assessing nature-related dependencies, impacts, risks and opportunities, as the final deliverable of that programme.

The handover is already mapped. The TNFD stated last year that it will end its technical work program in 2025, following the initiation of nature-related work by the IFRS Foundation's International Sustainability Standards Board (ISSB). Its remaining priorities are supporting standard-setting at the ISSB, the Global Reporting Initiative (GRI) and the International Organization for Standardization (ISO), plus capacity-building and market-enabling efforts.

Two transfers define the transition:

• The ISSB is preparing a practice statement on nature-related disclosures, positioned to become the anchor for sustainability reporting that sits alongside financial statements.
• Last month, ISO approved a TNFD-initiated proposal to develop the LEAP approach into a formal ISO standard — moving the assessment methodology from recommendation to certifiable process.

The TNFD, launched in 2021 on the model of the Task Force on Climate-related Financial Disclosures (TCFD), published its final recommendations for nature-related risk management and disclosure in September 2023. It is now deliberately retiring itself from framework-writing. The TCFD played the same role for climate before its recommendations were absorbed into ISSB standards.

What should companies in the material streams watch?

The 14% adopter growth reads as momentum. The 8-of-14 disclosure average reads as a gap. The difference between those two figures is the work that mandatory standards will force.

For operators handling recyclables, aggregates, forestry products or any feedstock with a land or water footprint, the ISO standardization of LEAP carries practical weight. An ISO designation turns an assessment approach into something auditors, lenders and procurement contracts can reference directly. It also gives jurisdictions a ready-made basis for disclosure requirements without drafting methodology from scratch.

The timeline is short. The ISSB practice statement is upcoming, the ISO work has just been approved, and the TNFD's technical programme ends this year. The voluntary era of nature reporting is closing on a published schedule.

The milestone to track is the ISSB practice statement's release — it decides whether the 836 commitments become a floor or a ceiling.