A good tool improves the way you work; a great tool improves the way you think. Today, the ENCORE tool, a leading UN-backed tool for screening risks to natural capital frequently referenced by the Taskforce on Nature-related Financial Disclosures (TNFD), Science Based Targets Network and Global Reporting Initiative (GRI), launched a major upgrade. The new enhancements are underpinned by the latest scientific research and driven by feedback from ENCORE users who are leading the way in assessing nature-related risks. The update includes seven key improvements: ?? Expansion of the previous list of 92 ‘production processes’ to 271 ‘economic activities ?? The list of ecosystem services is now better aligned with the categorisation proposed by the UN’s?SEEA ?? Improved clarity on how economic activities can impact nature ?? Natural capital is now separated into different ecosystem types aligned with the IUCN Global Ecosystem Typology 2.0 ?? All data on impacts and dependencies of economic activities have been updated based on the latest scientific research ??Improved methodology of the materiality ratings ?? New information has been added on key value chain links covering two tiers of suppliers and two tiers of consumers Our Head, Usher, E., commented on the new release: "ENCORE provides an unparalleled resource for financial institutions to evaluate their environmental exposure, offering critical insights into the nature-related impacts and dependencies within their portfolios. This new update follows the demand of our membership and makes ENCORE even more useful as a screening tool, empowering financial institutions to integrate nature considerations into their strategic decision-making, fostering resilience and sustainability." The updates were made as part of the Horizon Europe project “Strengthening Understanding and Strategies of Business to Assess and Integrate Nature" (SUSTAIN) Users can find out more about the updates to support their transition between old and new versions of the knowledge base by?downloading the following resources: https://lnkd.in/eXiynaFU Liesel Van Ast Jessica Smith Gabriela Hermosilla Liang Qian Verena Kraus Matt Jones Neville Ash Melissa de Kock Sharon Brooks Sebastian Bekker Frida Arriaga Alena Cierna Natalie Taylor Roger Ingle Aarty Iyengar Niki Mardas Marianne Haahr Lisa Petrovic Leanne Bell Nichola Rowlands-Smith Kate Rampersad Jolene Tan
A webinar on the updates would be really useful.
Thanks Romie - and congratulations on the new updates! Will a webinar be organized to walk users through the changes?
Excited to test it out! ENCORE has been integral to our work at BASIN Natural Capital
Wesley van Viersen Andreas Peter Schulz interesting for you?
Very exciting news, thanks for the update!
Looks great. Investigation in progress. Thanks!
Partner at Vardan Envirolab & Vardan Environet | Sustainability Expert | EIA Coordinator | Climate Change & Environmental Consulting Professional
4 个月The expansion and alignment with the latest scientific research will undoubtedly empower financial institutions to make more informed decisions regarding their environmental impact. It's impressive to see how tools like ENCORE are evolving to meet the demands of a sustainable future.