Project: TNFD Pilot Study
Client: Confidential global extractives company
Location: Africa
Objective: To pilot Version 0.3 and then 0.4 of the Taskforce on Nature-related Financial Disclosures (TNFD) on the direct operations (mines, railway, port) of a mining company in West Africa and provide recommendations as to how they should proceed with complying with the TNFD.
Our role: Sustain Value applied the full LEAP process to all the mining related operations. This involved first reviewing a large number of freely available tools for evaluating nature related impacts, dependencies, risks and opportunities. We also used GIS to map out the location of the facilities to ascertain which were in Priority locations. We linked the risk and opportunity assessment with the company’s materiality approach and risk register – considering the likely probability and potential financial implications of the risks. We also reviewed all the core and additional metrics that the company would need to disclose.
Outcome: We produced a full LEAP assessment report outlining the results and recommendations from the study, and presented it to the company’s CEO and sustainability officers, as well as representatives from the International Council on Mining and Metals (ICMM). Based on the success of this project, the client hired us for a second phase to deliver a workshop translating the outcomes of the TNFD assessment into practical implementation actions and to conduct an alignment exercise of the EU-CSRD and TNFD reporting requirements to identify data gaps the company would need to fill in order to comply.