Razan Al Mubarak Appointed Co-Chair Of Taskforce For Nature-Related Financial Disclosures

Razan Al Mubarak, President of the International Union for Conservation of Nature (IUCN), has been appointed Co-Chair of the Taskforce on Nature-Related Financial Disclosures (TNFD). She will collaborate with David Craig, founder and CEO of Refinitiv, a major data and technology platform provider in financial markets across over 160 countries.

Al Mubarak takes over from Elizabeth Maruma Mrema, Deputy Executive Secretary of the United Nations Environment Programme. In her new role, she will help integrate TNFD recommendations into global corporate reporting, aligning with the commitment of over 190 governments to Target 15 of the Global Biodiversity Framework.

"I am honoured to be stepping into the role of Co-Chair of the TNFD at this critical juncture. COP28 highlighted that business and finance now accept that climate change and nature loss are not separate challenges, but inextricably linked as integrated planetary systems. We can’t get to net zero without nature," she said.

Elected IUCN President in 2021, Al Mubarak is the first woman from West Asia to lead the organisation in its 72-year history and its first Arab president since 1978. As the UN Climate Change High-Level Champion for COP28, she engages globally with business and finance sectors, advocating for an integrated approach to climate action with nature at its core.

David Craig expressed his enthusiasm about Al Mubarak joining as Co-Chair. "I am delighted to welcome Razan to the TNFD as my Co-Chair for this next phase of TNFD’s mission to align to global reporting standards and build market confidence and capabilities to take action in the face of accelerating nature loss. As was the case with Elizabeth Mrema’s leadership of the CBD Secretariat and her stewardship of the landmark Kunming-Montreal Global Biodiversity Framework throughout the first phase of our work, the TNFD will benefit from Razan’s lifelong commitment to conservation and biodiversity and her global leadership and tireless advocacy at the nexus of climate and nature challenges as President of the IUCN and as COP28 Climate Champion."

Commitment to Conservation

Al Mubarak emphasised that businesses must manage their relationship with nature effectively. "Businesses and financial institutions of all sizes across all sectors and geographies need to start managing their interface with nature as their most important supply chain and value creation partner," she added.

Her leadership is expected to bring significant benefits due to her extensive experience in conservation and biodiversity. Her role at IUCN has been marked by a focus on integrating practical action on climate change with a strong emphasis on nature.

The appointment marks a significant step towards embedding nature-related financial disclosures into corporate practices worldwide. This move aims to enhance market confidence and capabilities in addressing nature loss while aligning with global reporting standards.

With inputs from WAM