As companies and financial institutions increasingly recognise the importance of biodiversity, the need for consistent measurement and reporting standards becomes crucial. However, varying approaches to biodiversity impact assessment can lead to confusion and inconsistency, hindering meaningful progress. A Fragmented landscape of measurement tools, data and reporting frameworks can make it difficult for companies and banks to effectively measure and manage their biodiversity impact.

To address this challenge, Finance Denmark and UN Global Compact Network Denmark have launched a Nordic knowledge-sharing network group in collaboration with the global initiative Taskforce on Nature-related Financial Disclosures (TNFD). The network group aims to foster collaboration among Nordic companies and banks, focusing on identifying and building knowledge about standardised measurement methods for biodiversity impact available. Through regular Nordic webinars, the initiative seeks to promote consistent  expectations and frameworks for companies and financial institutions.

This project facilitates the exchange of best practices, enabling participants to align efforts and contribute to the broader goal of protecting biodiversity. The initiative supports companies, banks and asset managers in integrating biodiversity considerations into operations, improving the ability to manage risks and opportunities related to nature. The network has established a strong foundation for consistent biodiversity measurement and reporting across the Nordic region, promoting a more cohesive approach to biodiversity management.