The Biodiversity Consultancy Nature Finance
Where business and nature thrive
Where is your financial institution on its nature journey?
Nature is Fundamental to Business
Every client and portfolio company depends on nature. As biodiversity declines and ecosystems degrade, the risks to business continuity, resilience, and reputation become increasingly material. Yet within every risk lies opportunities for enhanced resilience, outperformance and new markets. By integrating nature into strategic planning, forward-thinking financial institutions mitigate risk and unlock new sources of value through risk management, product innovation, and improved financial decision making. TBC’s extensive work with corporates with both strategic and site-based consideration of biodiversity also helps us provide better insights to our financial sector clients.
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The Biodiversity Consultancy (TBC) is experienced at guiding financial institutions through every stage of their nature journey, as shown below.
STAGE
MEASUREMENT
MANAGEMENT
TBC helps financial institutions understand their nature-related risks and opportunities, build internal awareness, and establish the governance and data needed to begin their nature journey. TBC works with financial institutions to develop actionable nature strategies aligned with global frameworks that are tailored to the needs and strategy of FIs.
Portfolio-wide nature-related dependency, impact, risk and opportunity (DIRO) assessment Applying biodiversity footprints to appropriate use cases Location-agnostic nature risk assessments ECB/EBA and CSRD materiality thresholds
Portfolio engagement and capacity building Public vision statement on nature Nature-related sector policies Deforestation risk approach and strategy Initiative signatory Project finance requirements, e.g. EPs Negative screening for nature red flags Opportunities for nature-impact instruments Nature considered in sustainable finance taxonomy Refined sector policies Internal transition plan and due diligence processes Inputting nature into C-suite agendas Connecting nature scenarios with financial models, risk assessment and engagement Nature expertise embedded behind front office, deal teams and capital advisory
DIRO assessments for sectors sensitive to asset locations, supply chains and
company operations Forward-looking DIRO
assessments to estimate financial materiality (nature scenarios) Advice on appropriate nature metrics/KPI
TBC supports the integration of nature into the business and operating model of financial institutions, reporting, and decision-making to drive long-term value and resilience.
Year-on-year measurement of nature-related KPIs and metrics to indicate how FI is mitigating impact on nature and is increasingly resilient to nature-related risks Established, standardised, scaled screening methods for identifying nature-related risks amongst new and existing clients and portfolio companies
Integrate nature into financial products and risk modelling Environmental factors and scenario analysis
considered for financial decisions Evidence of portfolio alignment with nature-positive principles
Justify exclusions due to nature-related policies and due diligence, e.g. material impacts on critical habitat
Setting The Standards and Metrics
TBC brings deep, hands-on experience in shaping globally recognised biodiversity and nature-related reporting standards; expertise we now apply to help our clients lead with confidence and credibility. TBC has supported a wide range of financial sector clients in evaluating their relationship with nature-related issues, determining the scope and opportunity for action and developing strategies to proactively embed nature into their decision-making processes. This includes commercial banks, development banks, insurers and investment managers (across both public and private markets). Expertise in Assessing and Managing Nature-Related Dependencies, Impacts, Risks and Opportunities Across a Breadth of Financial Institutions
CAS E STUDI ES
What?
Ho w ?
Client Value?
Aviva's 2025 nature-related DIRO assessment involved a screening of nature-related dependencies and impacts across its investments and insurance (underwriting and claims) portfolios, an evaluation of location specific nature-related dependencies and impacts of a sub-set of priority sectors and Aviva's own operational sites, and the development of micro-level, location-specific nature related scenario analysis to assess a sub set of nature-related risks and opportunities at firm-and-market levels relevant to Aviva's financial portfolios.
The 2025 nature-related DIRO assessment methods and insights were developed and delivered in deep collaboration with stakeholders from across Aviva. This ensured that the assessment methods were auditable and replicable, the process built capacity across stakeholders, and the insights were targeted to inform potential activities and actions across the Group. The insights from the 2025 nature-related DIRO assessment, along with other internal work, are now being used to inform the formalisation of Aviva's Group nature strategy, and support the development of nature-related risk appetite and preferences.
TBC supported Aviva in conducting its 2025 Group-wide nature-related dependencies, impacts, risks and opportunities (DIRO) assessment across its investments, insurance and own operations. This work built on Aviva's previous nature-related assessment work, and drew on the Taskforce on
Nature-related Financial Disclosures (TNFD) ‘LEAP’ approach.
Transition
Integration
TBC designed and delivered a series of four full-day workshops tailored to the needs of Finnish financial institutions. We developed a bespoke approach to TNFD LEAP, treating impacts and dependencies separately. Training materials were adapted to varying levels of participant expertise, included practical exercises using screening tools and geospatial datasets, and featured examples drawn from Finnish nature and business contexts. To support positive outcomes, participants produced an action plan to translate learnings into concrete outcomes. TBC drew on its expertise and experience supporting development banks with nature finance methodologies to detail the positive impact pathways for nature of activities in the frameworks. Three categories of pathway were utilised: 1. Enabling (e.g. technologies to monitor deforestation) 2. Reduction (e.g. adoption of regenerative agriculture practices to reduce runoff) 3. Restoration (e.g. restoration)
Provides the foundation for Barclays to understand and track its financing activities on the subject of nature
Supported Barclays to enhance its Sustainable and Transition Finance Frameworks by explicitly assessing how qualifying activities contribute to the goals of the Global Biodiversity Framework.
Participants gained a structured, scalable methodology for applying TNFD LEAP, even with limited data. Institutions were equipped to identify material nature-related exposures, prioritise sectors and geographies, and begin shaping nature-related strategies and targets. Action plans ensured the training would lead to tangible results, and participants were able to provide internal stakeholders with access to leading nature finance expertise. The final publication offered a replicable roadmap for others in the sector, supporting broader TNFD adoption and alignment with the Global Biodiversity Framework. Reflect client transition plans increasingly including nature alongside climate Help position Barclays at the forefront of the nature finance agenda Concrete identification of financing opportunities at the climate–nature nexus
Transition
Integration
Sitra, the Finnish Innovation fund, sought to accelerate nature-related action across the Finnish finance sector by helping banks and asset managers apply the TNFD LEAP framework. The goal was to equip institutions with practical, context-specific guidance to assess nature-related impacts, dependencies, risks, and opportunities, and begin integrating these into decision-making, strategy, and reporting.
Acti vation
What?
Ho w ?
Client Value?
TBC assessed client DCF claims, highlighting limitations in traceability and mass balance approaches. TBC then developed a DCF assurance traffic light framework to help BNP measure and support client progress.
BNP Paribas gained a clearer view of DCF claims and a structured pathway to support improvement. The traffic light framework and tool mapping provided BNP with information to engage clients with tailored, context-sensitive recommendations.
BNP Paribas wanted to assess its approach to deforestation- and conversion-free (DCF) assurance, identify practical pathways for improvement, and support BNP's positioning as a sector leader.
Transition
By the end of the workshops, participants had a strong foundational understanding of biodiversity in a business context and felt confident in identifying nature-related risks and opportunities within their teams. The sessions equipped stakeholders with practical next steps and set the stage for integrating nature into LBG's procurement and sustainability strategies.
TBC designed and delivered two interactive workshops tailored to different internal audiences. One was targeted to executive leadership and one to sourcing and supply chain stakeholders. The sessions focused on the fundamentals of biodiversity, its relevance to business and climate action, and the evolving policy landscape. Attendees represented a wide range of procurement sectors, including automotive, real estate, technology, and construction. The workshops were designed to be practical and action-oriented, helping participants draw clear connections between biodiversity and LBG's supply chain operations. Drawing on our experience with impact investors and DFIs, TBC: Reviewed the landscape - Consolidated leading frameworks and methodologies, and benchmarked market best practices Defined a clear approach - Proposed a practical pathway to track and measure nature finance using suitable standards and guidance Built awareness - Delivered capacity-building sessions for executives and all staff for internal alignment
Lloyds Banking Group (LBG) wanted to build internal
understanding of nature-related risks within its third-party spend and lay the groundwork for integrating biodiversity considerations into procurement policies and sustainability strategy. They engaged TBC to support this through targeted internal engagement.
Acti vation
Enabled FinDev Canada to shape its approach to nature finance and enhance organisational capacity.
FinDev Canada wanted to understand the nature finance landscape, define its approach for tracking and measuring nature finance, and build foundational knowledge across the organisation.
Acti vation
Transition
Contact the team For more information about our services
Grant Rudgley, Business Director grant.rudgley@thebiodiversityconsultancy.com
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