Accounting Department had an enlightening Guest Lecture with Neytullah Ciftci, PhD., a Research Associate in Business and Biodiversity from Lancaster University, UK, held online via Zoom on Monday, June 4 2024. The session was attended by Master and Doctoral students of Accounting from Airlangga University and moderated by Ms. Vidya Intan Athfalina, S.E., M.S., Ak.
Key Takeaways: Biodiversity and natural capital are crucial for business sustainability, providing essential services such as raw materials, climate regulation, and ecosystem support. However, biodiversity loss, driven by factors like habitat change, climate change, pollution, overexploitation, and invasive species, poses significant risks.
The Taskforce on Nature-related Financial Disclosures (TNFD) advocates for standardized corporate reporting on nature dependencies and impacts, helping businesses manage these risks effectively. Scenario analysis, a strategic planning tool, explores future uncertainties and guides decision-making.
The TNFD framework highlights the importance of addressing physical and transition risks and proposes 2030 as a critical checkpoint for biodiversity goals. This was demonstrated through insightful case studies like KAO Corporation.
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