Sustainable Finance & Reporting
German TNFD Consultation Group: Managing Nature-Related Risks and Improving Reporting
The German TNFD Consultation Group is jointly organised by FNG and BAUM without public funding. Both
organisations welcome new members whose financial contributions make this initiative possible.
The Task Force on Nature-related Financial Disclosures (TNFD) is a global initiative that supports market participants in managing nature-related risks and improving reporting in line with international standards. The German TNFD Consultation Group is organized by FNG and BAUM.
With a kickoff event on December 4, 2024, attended by approximately 120 participants from the business, finance, trade, and academic communities, the joint initiative was launched at the Federal Ministry for the Environment to bring the international discussion on the accounting for nature in management reports to Germany.
Through the German TNFD Consultation Group’s “Digital Dialogues” – our standard format – we engage in technical discussions regarding the disclosure recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD).
The first Digital Dialogue in February 2025 centered on the international perspective and the connection between nature, the economy, and finance. In June 2025, the focus shifted to industry and, consequently, to the user perspective. In keynote presentations by Melitta, Pfleiderer, and GLS Bank, concrete approaches to implementing the TNFD recommendations were presented and discussed. All recordings and presentations from the dialogs are available as “gated content” in Digital BAUM.
Documentation of the Outcomes of the 2nd Digital Dialogue
The 3rd Digital Dialogue of the German TNFD Consultation Group took place on September 8, 2025. The focus was on the financial sector.
Documentation of the Outcomes of the 3rd Digital Dialogue
At the same time, three working groups were formed to address different areas of focus.
Working Groups within the German TNFD Consultation Group
On December 4, 2024, approximately 120 interested participants from the business, finance, trade, and academic communities attended the kickoff event at the Federal Ministry for the Environment.
TNFD Usability Group
Ralf Frank (Partner, Sustainserv; volunteer board member of BAUM) leads a TNFD Usability Group with about ten members from the financial sector. They curated examples of good nature-related disclosures, comparing them against the objective requirements for meaningful reporting, with the goal of developing criteria for useful content. Interested parties with a relevant perspective, preparers, and users can contact Ralf Frank directly at
Business Cases for Nature
Angela McClellan (PwC) organised a working group titled “Business Cases for Nature” with 80 participants. The group developed methodological approaches for quantifying opportunities in real estate investments by incorporating biodiversity criteria. A corresponding white paper was published in early July 2025 and presented in September. It can be obtained either by emailing or via the PwC website.
Impact Measurement and Valuation
At the 2nd Dialogue, Laura Merz (WifOR Institute) introduced the new working group “Impact Measurement and Valuation” and extended an invitation to the first meeting on June 12, 2025. The working group is still in the process of getting organised – so it’s worth getting in touch! Contact:
The dates for 2026 are:
- February 12, 12:00–1:00 p.m.: Lunch & Learn on Climate Transition Plans with the TNFD Secretariat in London
- March 24, 12:00–16:00: 4th Digital Dialogue of the German TNFD Consultation Group on Information Gaps in Reporting
- September 24, 9:00–10:30 a.m.: 5th Digital Dialogue of the German TNFD Consultation Group, focusing on the financial market perspective (agenda and registration to follow)
FAQs About the German TNFD Consultation Group
What, specifically, are the expectations placed on companies?
You decide the level of your involvement: You can participate in the open webinars and listen as long as you like until you’re ready to make a commitment and, for example, join a closed working group.
For example, in the working group that uses the TNFD framework to compare investors’ information needs with what companies are already able to report, in order to determine how these information gaps can be closed. Companies from the real economy are very welcome to participate.
There are also plans to form working groups on business models and on narratives/success stories.
What are the goals and benefits for companies?
In a cross-sectoral group, participants will learn how nature-related reporting – both at the indicator level and as part of a systematic overview – can become a competitive advantage, based on an international standard that is expected to become the de facto standard for nature-related financial reporting – much like the TCFD for climate-related financial reporting – sooner or later.
How often and in what format does the group meet? What is the planned total duration?
BAUM is initially planning a two-year commitment. Whether this is extended will depend on the degree of implementation, as well as the interest and needs of our members and other interested companies.
When it comes to formats, we’re opting for a mix of digital, hybrid, and in-person events. We’d like to hold a larger in-person event like the kick-off on December 4, 2024, twice a year – as a kind of gathering where we discuss which goals we’ve achieved, what needs to be done for the next phase, and what our shared goals are.
On average, FNG and BAUM hold a dialogue session once a quarter. In between, additional informational events, discussions, or closed-door working groups may be organized.
Which companies are participating?
At the moment, we are still seeing a strong bias in expressions of interest toward capital market participants and service providers (including consulting firms and tool providers). However, we are in discussions with several interested parties from the trading sector and with companies – both among our members and beyond – that are subject to CSRD reporting requirements.
What is the scope of work participants can expect?
That depends on your level of involvement and the current state of nature-related reporting and data collection. If you want to get specifically involved in report validation, the effort required is greater than if you “just” participate in the informational sessions and webinars.
Are there any costs involved?
No, there are no participation fees or anything like that.
What kind of commitment is expected?
That’s entirely up to you; there are many possible approaches – including experimenting as you go. And if you do participate but then decide not to report on it publicly, that’s fine, too: You’ll have learned something and may choose to publish your findings at a later date.
Here you will find detailed information on organizing working groups within the German TNFD Consultation Group.