BBP launches real estate guidance for TNFD

The Better Buildings Partnership has launched new guidance for the real estate sector to help owners apply the recommendations in the Taskforce on Nature-related Financial Disclosures. The guidance equips the commercial real estate sector with practical tools to implement the TNFD framework and develop informed nature-related disclosures.  It provides an overview of the nature and biodiversity challenges facing real estate, details the LEAP (locate, evaluate, assess, prepare) process to guide organisational strategy and governance, and offers a step-by-step implementation guide that includes appendices on regulatory drivers and the impact of commercial real estate on natural systems.  BBP chief executive Sarah Ratcliffe said: “The global loss of biodiversity and degradation of ecosystems are emerging as critical risks to businesses, threatening operations, supply chains and access to essential resources. Our ambition is that this publication will accelerate the understanding of nature and its interactions with the commercial property process.”  Janine Cole, sustainability and social impact director at GPE, added: “Nature is integrated at a strategic level within our sustainability statement of intent and social impact strategy. Biodiversity is also included as a KPI within our ESG-linked revolving credit facility. While this has increased focus by our business on nature and biodiversity, cross-sector collaboration is critical. We have no doubt that the guidance note will be invaluable in supporting real estate businesses as they seek to develop their approach.” The full guidance note can be downloaded from the Better Buildings Partnership website.