Piloting the draft Taskforce on Nature-related Financial Disclosures (TNFD) framework
Summary
Little Blue Research supported BT Group to pilot the first six steps of the Taskforce on Nature-related Financial Disclosure’s (TNFD) LEAP approach to determine, in particular, the preparedness of its Openreach business unit for the recommended disclosure and risk assessment requirements.
Client description
Capitals
BT Group
Natural
>100,000 employees
Client need
BT Group required technical support to pilot the draft Taskforce on Nature-related Financial Disclosures (TNFD) framework recommendations, in particular, for its Openreach business unit. To identify priority actions for the potential implementation of the framework, Little Blue Research provided a high-level review of Openreach’s business activities through piloting the first six steps of the LEAP approach. Piloting involved an assessment of Openreach’s impacts and dependencies on nature, materiality screening, document review and interviews to identify how nature is currently included within business operations and to highlight opportunities for improvement. The focus of the work was on Openreach due to its interface with nature while building infrastructure in the UK.
The challenge
Identifying priority nature related impacts and dependencies through a review of business activities.
Reviewing internal documentation to identify how Openreach currently includes nature related considerations within their operations and identifying synergies with current reporting against the Taskforce on Climate-related Financial Disclosures (TCFD).
The results
High-level mapping of Openreach’s interface with nature across network development sites, facilities, and supplier locations.
Review of Openreach’s largest impacts and dependencies on nature, across network development and facilities locations.
Next steps to prepare for the requirements of the recommended disclosures of the TNFD framework.
