Henderson, Swire and Chinachem among 7 Hong Kong firms joining global initiative on nature-related corporate disclosures

320 entities worldwide join the Taskforce on Nature-related Financial Disclosures (TNFD) to reverse nature degradation caused by human activity and climate change

‘Milestone moment for nature finance and for corporate reporting,’ TNFD co-chair David Craig says

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Published: 8:15pm, 16 Jan 2024

Seven Hong Kong companies have joined more than 300 firms worldwide that are committed to making disclosures on nature-related risks and opportunities, supporting a global initiative to reverse nature degradation caused by human activity and climate change.

Property developers Chinachem Group, Henderson Land Development, Sino Land, Swire Properties, gas utility Hong Kong and China Gas (Towngas), beverages maker Vitasoy International Holdings, and marine ecosystems restoration start-up Archireef are the pioneers from Hong Kong.

In total, 320 organisations from more than 46 nations have pledged to start making disclosures based on recommendations published by the Taskforce on Nature-related Financial Disclosures (TNFD) last September.

This is a “milestone moment for nature finance and for corporate reporting”, said David Craig, co-chair of the TNFD at the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday.

David Craig, co-chair of the TNFD called announced the “milestone moment for nature finance and for corporate reporting” at the World Economic Forum in Davos on Tuesday. Photo: Xinhua

Some US$44 trillion of economic value, or more than half of the world’s total economic output, is moderately or highly dependent on nature, according to a 2020 report published by the WEF.