Our response to the consultation on managing nature-related impacts and dependencies in financial portfolios

Managing impacts and dependencies involves identifying, measuring, and managing how economic activities affect nature and ecosystems, as well as how they depend on them. It is essential for anticipating financial risks related to natural capital degradation and strengthening portfolio resilience.

What is this consultation about?

The TNFD (Taskforce on Nature-related Financial Disclosures) consultation published in August 2025 aims to gather input from financial stakeholders on the methodological, operational, and data challenges related to identifying, assessing, and disclosing funds' impacts and dependencies on nature and biodiversity.

It specifically addresses:

• Current data limitations (coverage, quality, granularity, asset location);
• Existing tools and methods for analyzing biodiversity impacts and dependencies;
• The interest and feasibility of new indicators, particularly financed impact driver metrics;
• Reporting expectations;
• Emerging best practices for collecting and sharing asset location data.

Our response

WeeFin considers that the description of methodological and data challenges formulated by the TNFD accurately reflects the operational reality faced by financial institutions. However, we emphasize that these limitations should not be a barrier to integrating biodiversity into investment strategies, as concrete solutions are already available.

Our analysis highlights several key areas:

Prioritization through impact and dependency analysis

Public tools such as ENCORE or the SBTN Materiality Screening Tool enable the identification of the most exposed sectors and the structuring of biodiversity strategies based on robust materiality analyses (impact/dependency matrices).

Improving data coverage and quality

The combined use of public and private sources, enhanced quality controls, and regular monitoring of methodologies are essential levers for making analyses more reliable, even in a context of imperfect data.

The need for granular asset-level data

Access to asset location data remains a central challenge for precise impact attribution. Notable advances are emerging through public-private data provider partnerships, NGOs, academic research, and technological solutions (satellites, AI).

The key role of technological tools and expertise

Data management platforms like WeeFin enable the structuring, comparison, and validation of biodiversity data, while maximizing portfolio coverage. This technological dimension must be complemented by strong methodological and sectoral expertise.

The usefulness of financed impact driver indicators

Although complex to calculate and still poorly harmonized, these indicators would be very useful for internal analyses and reporting, provided transparency is ensured regarding assumptions and methodological limitations.

The importance of shareholder engagement and transparency

In a context of potential rollback of reporting obligations, investor engagement remains a key lever for encouraging the publication of biodiversity-related information and progressively improving the quality of available data.

Finally, WeeFin encourages the TNFD to continue its work on common methodological frameworks, particularly regarding proxies and standardized indicators, to improve the integration of biodiversity issues across the financial sector.

To read our complete response to the consultation: click here.