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Metro Pacific Investments Corporation (MPIC) has recently become the pioneer company in Southeast Asia to join the TNFD Forum, a global and multi-disciplinary consultative network of institutional supporters who expressed willingness to contribute to the work and mission of the Taskforce.

The Forum provides an important complementary role in the TNFD governance structure, including supporting the development of the TNFD Framework in its five phases – building, testing, consulting, launch and dissemination, and uptake.  Over the next two years, MPIC will champion the TNFD in the Philippines to encourage the country’s corporate and financial institutions to embrace the importance of reporting and acting on evolving nature-related risks. Successively, the company will adopt the Framework once it is launched in 2023. “We are committed to fully support the work of the Taskforce and contribute to the ultimate goal of curbing nature loss in any way we can,” MPIC Chairman of the Board Manuel V. Pangilinan declared.

“The business and financial world’s race towards net zero emissions will only succeed if they race equally fast towards nature-positivity. 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. Therefore, development of a practical framework for nature-related risks will only be achievable by bringing together market practitioners and experts in biodiversity, data, metrics and standards, risk management and disclosure frameworks into a unique collaborative endeavour,” said TNFD Co-Chairs Elizabeth Mrema and David Craig in a joint statement during the announcement of Taskforce Members and launch of Consultative Forum.

“MPIC has always made strategic and calculated efforts to conduct its businesses with nature-related risks and impacts in mind,” shared MPIC Chief Finance, Risk, and Sustainability Officer Chaye Cabal-Revilla. “Recognizing that all our businesses have pervasive influence not just in our national progress but in our country’s natural resources protection and conservation, we ensure that environmental stewardship is embedded in our key businesses and investment strategies. We support the TNFD in its mission to deliver a risk management and disclosure framework for organizations, which will hopefully serve as a catalyst towards a nature-positive global economy.” 

 

TNFD’s Mission 

 

Nature loss poses both risks and opportunities for businesses, now and in the future. More than half of the world’s economic output – US$44tn of economic value generation – is moderately or highly dependent on nature. By 2030, annual business value generated by action for nature-positive transitions could amount to US$10.1 trillion.

At present, financial institutions and companies lack the appropriate knowledge to fully understand the direct correlation between nature and their financial performance. They require better information to allow them to incorporate nature-related risks and opportunities into their strategic planning, risk management, and asset allocation decisions. 

The TNFD aims to develop, establish, and promote an integrated risk management and disclosure framework that aggregates the best tools and materials. The Forum is intended to support their work by providing access to a large-scale and diverse collective of technical expertise and practical experience, which will aid in the continuous development of this framework. The taskforce pivots away from creating a new disclosure standard but will instead promote worldwide consistency for nature-related reporting. 

The TNFD’s work will build on seven principles: market usability, science-based, nature-related risks, purpose-driven, integrated & adaptive, climate-nature nexus and globally inclusive.

“We are glad to be part of this global initiative. Having a standardized framework will help us in MPIC to further evaluate our nature-related risks and opportunities that will be critical in future-proofing our business,” MPIC President and Chief Executive Officer Jose Ma. K. Lim shared.

MPIC’s membership in the TNFD forum is aligned with its commitment to contribute to the United Nations Sustainable Development Goals (SDGs), primarily SDG 17: Partnerships for the Goals. More specifically, it advances Target 17.16: Enhance the Global Partnership for Sustainable Development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology and financial resources, to support the achievement of the SDGs in all countries, in particular developing countries. 


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