Page 41 - CESD Annual Report 2022_Page01-46
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India Business Global standards of nature Action Plan of the Consultation Group
& Biodiversity related disclosures • Provide Business members' inputs on the Draft TNFD
Framework
Initiative
• Pilot the TNFD Framework with Indian Businesses and share
(IBBI) in 2022 learnings with TNFD to finalise the framework
• Develop a guidance document for Indian Businesses on
Nature-related Disclosures after launch of the final TNFD
55 Businesses are
TNFD (Taskforce on Nature-related Financial Framework in Sep 2023
signatories to the Disclosures) was established in June 2021 with
initiative and 13 a mission “to develop and deliver a risk
stakeholder management and disclosure framework for Testimonials
organisations organisations to report and act on evolving
from various nature related risks, which aims to support a
institutions and shift in global financial flows away from Mr Rajiv Ranjan Mishra
development nature negative outcomes and toward nature Member IBBI and
positive outcomes”. The TNFD is currently in
organisations are Managing Director
the design and development phase of the
members of IBBI Apraava Energy Private Limited
disclosure framework for nature-related risks
and opportunities with market participants.
The Taskforce is following an open innovation
approach and will release several beta
Business versions in the lead up to the delivery of the In India, the energy sector is critical for sustaining economic
members final version in September 2023. development and has multiple linkages with biodiversity and
contribute to ecosystem services. A wide range of stakeholders, including the
TNFD has identified an initial set of six
around 5% of government and investors, are increasingly acknowledging the
countries to develop the Consultation Groups
India’s GDP and in India the group is hosted as a work company’s management of biodiversity impacts in its operations.
programme of India Business & Biodiversity The India Business & Biodiversity Initiative (IBBI) has been playing
Initiative (IBBI). an important role in supporting businesses in integrating the
biodiversity value into business decision making through various
The Centre is establishing “IBBI National
50% of the tools and monitoring mechanisms. Apraava Energy undertook the
Consultation Group on TNFD Framework” with
members have biodiversity assessment based on IBBI methodology for our
a purpose to build awareness of the TNFD’s
developed work and expand the number of institutions thermal power project and developed an action plan to manage
measurable contributing feedback on the beta version of biodiversity within project boundaries. The action plan on
targets on the framework, including through pilot testing. biodiversity has helped in driving measurable actions towards
conservation of native biodiversity and minimising the impact of
sustainable The Consultation Group will also play a
management of valuable role in scaling market adoption of operations on biodiversity as well as the broader ecosystem.
nature the TNFD Framework once the final framework Going forward Apraava Energy intends to conduct a biodiversity
will be released in September 2023. assessment of its renewable and transmission assets and
develop a business-wide biodiversity strategy.
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Commitment Towards a Sustainable Future
