From EU Deforestation regulation to Nature Positive incl. TNFD

Nowadays, it's almost impossible to open a newspaper without encountering an article on 'sustainability'. Whether it's in the context of the financial services industry, the broader economy, or society as a whole, sustainability has become a critical issue. In recent years, it has gained significant traction and is now recognised as a necessity rather than just a trend.

This training focuses on the concept of Nature Positive, which refers to actions taken by businesses and organisations to leave a positive impact on biodiversity, ecosystems, and natural resources. Participants will understand what it means to move beyond "doing no harm" towards creating a net-positive impact on nature, contributing to the preservation and restoration of natural capital. This training covers key strategies, practical approaches, and frameworks to help organisations embrace nature-positive practices as a core part of their sustainability initiatives.

A dedicated section of the training will focus on the implications of the EU Deforestation Regulation (EUDR) and main requirements as well as the Taskforce on Nature-related Financial Disclosures (TNFD) standards.

By the end of this training, participants will:

• understand the main requirements of the EU Deforestation regulation and associated challenges and the TNFD requirements;
• understand the concept of being "Nature Positive" and its significance in sustainability;
• learn about the relationship between business activities and biodiversity impacts;
• gain knowledge of global nature-related commitments, such as the Kunming-Montreal Global Biodiversity framework;
• identify actionable steps to promote and implement nature-positive practices within their organisations;
• understand the role of businesses in preserving and enhancing biodiversity and ecosystem services.

• Overview of EU Deforestation regulation and TNFD requirements
  • In scope entities
  • Main requirements
  • Due diligence considerations
• Introduction to nature positive
  • Definition and key principles of nature positive
  • Overview of the current state of biodiversity and natural ecosystems.
  • Global commitments, such as the Kunming-Montreal Global Biodiversity Framework.
• Business impacts on nature
  • Understanding how business activities impact biodiversity and ecosystem health.
  • Identifying the drivers of biodiversity loss: pollution, deforestation, land use change, and more.
• Nature Positive strategies for business
  • Key strategies for companies to transition towards a nature-positive approach.
  • Integration of nature-positive objectives into business decision-making and supply chain management.
  • Incorporating biodiversity considerations in risk assessments and corporate strategy.
• Practical steps to implement nature positive actions
  • Actionable guidance on how to assess and reduce biodiversity impacts.
  • Case studies of businesses that have successfully embraced nature-positive practices.
  • Tools for monitoring and measuring biodiversity impacts and progress towards nature-positive targets.
• Engaging stakeholders for a nature positive future
  • How to effectively engage stakeholders, including suppliers, customers, and regulators, to promote a nature-positive agenda.
  • Best practices in communicating nature-positive initiatives to stakeholders and the broader community.

This training is coordinated by Daniela Cedola, Michael Horvath, Partners and Tsvetelina Blagoeva, Elena Kazmina, Directors at PwC Luxembourg.

Michael has acquired a strong financial and regulatory audit as well as advisory background and significant experience leading projects in the asset management sphere.

In the recent past, Michael has been particularly involved in various regulatory projects related to the implementation of the EU regulatory framework for sustainable finance (i.e. SFDR, taxonomy regulation, CSRD) at entity and product level. Michael is involved in various other regulatory projects for clients, from DORA, AML/CFT regulation over CSSF circular 18/698 to MICA.

Elena is a director in the regulatory compliance advisory team at PwC Luxembourg. Over the past years, Elena has worked closely with multilateral development banks and Luxembourg-based credit institutions, investment firms, and management companies, supporting them in ensuring robust internal governance and, in particular, risk management practices. This includes compliance with applicable regulatory and legislative frameworks, encompassing Basel guidelines, EU-level regulations and directives, EBA guidelines, Luxembourg-specific laws, and CSSF circulars.

She holds certification from the Association of Chartered Certified Accountants (ACCA) and a Climate Risk Certificate from Global Association of Risk Professionals (GARP).