Volvo Cars has become the first automaker to join the Taskforce on Nature-related Financial Disclosures (TNFD) to report its efforts to reduce its impact on nature.
TNFD is a global initiative that provides a framework for companies to assess and report their impacts on nature, as well as a process to address priorities, with the aim of shifting global financial flows from nature-harming outcomes to positive ones.
By joining TNFD, Volvo aims to take all necessary measures to avoid and reduce its impacts on nature. Additionally, the brand is committed to restoring and regenerating nature to positively balance its negative impact.
“As the first global automotive manufacturer to sign up for the TNFD initiative, we strive to act as pioneers in the automotive industry in terms of biodiversity,” says Vanessa Butani, Volvo Cars’ head of global sustainability. “By using the TNFD’s set of recommendations and guidelines, we can integrate dependencies, impacts, risks, and opportunities related to nature into our decision-making. This will contribute to achieving our long-term ambition of having a positive impact throughout our value chain and contributing to a positive future for nature,” concluded the Swedish brand’s representative.
It should be noted that Volvo has already announced its goal of becoming a carbon-neutral company by 2040.
