SBC recently caught up with Kirsty Brennan, Environmental Business Partner at Lyttelton Port (LPC), about LPC’s announcement earlier this year that it has become an early adopter of the Taskforce on Nature-related Financial Disclosures (TNFD), and the only Aotearoa New Zealand-headquartered organisation to become an adopter. Here is what Kirsty had to say.
Q. What is LPC’s relationship with nature, and why is it so critical to your business model?
A. LPC’s operations are deeply intertwined with nature. We rely on natural resources such as raw materials for our operations and assets and through revenue from imports and exports. Additionally, the health of Whakaraupō/Lyttelton Harbour is crucial for diluting stormwater pollution and maintaining access for recreational activities, which helps LPC sustain community relationships and operational consents. The mahinga kai of Whakaraupō/ Lyttelton Harbour is also important for mana whenua.
Q. Can you tell us a bit about what being a TNFD early adopter means?
A. LPC has taken the leap to become an early adopter of the framework and to disclose because of our existing commitments to mana whenua, stakeholders and our communities that came about through the Port’s earthquake recovery process. It also seemed like a natural step given that we have had a Biodiversity Positive ambition as part of our Sustainability Strategy since 2019.
Q. What drove LPC to choose to follow this framework?
A. We have chosen to follow the TNFD because it provided us with a structured approach to identifying risks and opportunities and hopefully in time will assist our journey towards a standardised approach to reporting impacts and dependencies on nature.
Q. How have you found the framework so far?
A. In some aspects it has been straightforward as we were already familiar with the four pillars having reported under the TCFD framework. However, we have found it tricky to understand how the TNFD framework fits with other sustainability standards and frameworks such as the ISSB and SBTN. We have the benefit of locally-specific data and a catchment management plan to guide us when using the LEAP framework. Having access to spatial software has also been of great benefit in quantifying impacts and visualising information.
Q. Do you have any advice for other companies looking to follow a similar path?
A. Just get started! Start small and get started with understanding impacts and dependencies of your business on nature. You will probably find it is a good opportunity to document and communicate the great actions that are already happening towards biodiversity positive.
