The Better Buildings Partnership (BBP) is pleased to announce the release of a new publication to support UK commercial real estate owners to apply the Taskforce on Nature-related Financial Disclosures (TNFD). The resource equips the commercial real estate sector with practical tools to implement the TNFD framework and develop informed nature-related disclosures. 

This publication was developed through a collaborative effort led by the BBP, bringing together real estate investors, managing agents, and technical experts, including Brookfield Properties as the sponsor and Greengage Environmental as technical authors. 

The publication, available to download now on the BBP website, provides an overview of the nature and biodiversity challenges facing real estate, details the LEAP (Locate, Evaluate, Assess, Prepare) process to guide organisational strategy and governance, and offers a step-by-step implementation guide that includes appendices on regulatory drivers and the impacts of commercial real estate on natural systems. 

The BBP celebrated the launch of the TNFD publication at a recent meeting of its members on October 3rd. The event featured a keynote address by Dr. Tony Juniper CBE, Chair of Natural England, with insights on the new TNFD guidance from Morgan Taylor of Greengage Environmental and the BBP’s Adam Baranowski. This was followed by a panel discussion moderated by sustainability consultant Jess Moore, and featuring Chris Moss (Greengage Environmental), Henry Powell (Landsec), Sophie Goddard (Canary Wharf Group), and Charlie Dixon (TNFD/GFI) on the challenges and opportunities of implementing TNFD in the commercial property sector. 

The publication marks a milestone in BBP's aim to improve the sustainability of commercial real estate, aligning with the BBP’s 2030 Vision to support pioneering approaches and embed nature in property investment strategies.  

The BBP invites stakeholders to share feedback to ensure the guidance is practical, effective, and aligned with industry needs. For more information or to submit feedback, please contact Adam Baranowski at a.baranowski@betterbuildingspartnership.co.uk. 

The BBP would like to thank all members of the working group, including abrdn, Brookfield Properties, Canary Wharf Group, GPE, Grosvenor, Lendlease, Legal and General Investment Management, Workspace, Befimmo and Hibernia REG. 

Sarah Ratcliffe, Chief Executive Officer of the BBP, stated: “The global loss of biodiversity and degradation of ecosystems are emerging as critical risks to businesses, threatening operations, supply chains, and access to essential resources. The BBP has been delighted to support and contribute to this groundbreaking publication which provides an important introduction to the Task Force on Nature Related Disclosures (TNFD) for real estate and is supported by a comprehensive guide to the underpinning LEAP process. Our ambition is that this publication will accelerate the understanding of nature and its interactions with the commercial property process.” 

Adam Baranowski, Head of Climate Action & Investment at the BBP, added: “We are delighted to make the BBP’s new publication on TNFD for commercial real estate openly available to all. Following the model of the TCFD on climate considerations, we need to see rapid uptake and implementation of the TNFD’s recommendations if we are to better understand the sector’s nature-related impacts and dependencies at large, and drive nature-positive, regenerative outcomes. We encourage all market participants to review our guidance, apply it, and share their feedback.” 

Janine Cole, Sustainability and Social Impact Director, GPE, and Chair of the Better Buildings Partnership said: "Nature is integrated at a strategic level within our Sustainability Statement of Intent and Social Impact Strategy, biodiversity is also included as a KPI within our ESG linked RCF. Whilst this has increased focus by our business on nature and biodiversity, cross sector collaboration is critical. We know from TCFD how effective reporting mechanisms can be in supporting collective action, we were therefore delighted to be able to take part in this BBP working group to shape how our industry responds to TNFD recommendations. We have no doubt that the guidance note will be invaluable in supporting real estate businesses as they seek to develop their approach." 

Kathleen Jowett, Head of Sustainability, LaSalle Global Solutions and Chair of the AREF ESG & Impact Investing Committee and the GRESB Foundation Board said: “LaSalle Global Solutions recently surveyed over 50 of our global managers, revealing critical insights into nature-related risk management. While 90% of firms recognize the importance of addressing nature-related risks, only 15% have adopted or are currently implementing the TNFD framework. This gap between awareness and action underscores the critical need for simplified guidance, improved resources, and collaborative efforts if our industry will be expected to integrate nature-related financial disclosures into core business strategies. The BBP's new publication on TNFD for UK Commercial Real Estate goes a long way to fill this gap, providing much-needed guidance for the industry."

Morgan Taylor, Director, Greengage Environmental, said: “The TNFD presents an opportunity to firmly place nature on the boardroom agenda. We have an externalised view of our natural capital which is to our enormous detriment at a macro and microeconomic level. By conceptualising our nature-related dependency, impact, risk and opportunity we can start the process of integrating decision making which fully accounts for the reality that it is not ‘us and nature’ or ‘us vs nature’, rather it is ‘us as part of nature’. With this in mind, we were thrilled to author this guidance which aims to help those in the real sector navigate the world of TNFD, ideally for the mutual benefit of their business and the environment. 

Christopher Botten, Head of Sustainability, Investments & Development UK at Lendlease and member of the working group, said: “Nature is one of six focus areas in our global Sustainability Framework. We recognise the finite nature of our planet and its resources, and actively advocate for a healthy planet and healthy people. As Australia’s leading integrated real estate business with an international investment management capability, we understand our activities can contribute to local protection and restoration of nature. To identify how our business activities interface with nature we are using elements of the Taskforce for Nature-related Financial Disclosures (TNFD) LEAP approach and BBP’s new publication will be a valuable tool in this process. We are delighted to support the development of this guide and hope it will support many other organisations in mapping and measuring their impacts on nature.” 

Ariane Ephraim, Sustainability Manager at Workspace Group and member of the working group, said: “As an owner and developer of commercial office buildings in densely urbanised areas, Workspace has a responsibility not only to create opportunities for greening and support local biodiversity, but also to understand how our activities impact and rely on natural ecosystems. The release of the TNFD recommendations is a major step forward in helping businesses assess their dependencies and impacts on nature, as well as the associated risks and opportunities. We’re therefore very pleased to have participated in the BBP working group to examine the UK real estate sector's response to the TNFD recommendations and are confident this guidance will help the industry better integrate nature into decision-making and drive positive change.” 

Jess Moore, Independent Sustainability Consultant, said: “It was a privilege to mediate the panel at the launch of the new BBP publication on TNFD in UK commercial real estate. As our sector digests the TNFD, this guidance is invaluable: accessible and generously extensive, it offers actionable measures which are firmly grounded in the practicalities of TNFD implementation in commercial real estate. The BBP's convening power and thought-leadership have developed some of the most advanced sector-specific guidance currently available." 

Vincent van Bijleveld, Co-CEO, GREEN, said: The Global Real Estate Engagement Network (GREEN) welcomes this important publication, which supports real estate companies and investors worldwide in understanding and addressing nature-related risks and opportunities from both financial and impact perspectives. As the construction and real estate sectors significantly contribute to global raw material extraction and land use changes—key drivers of biodiversity loss—this guidance arrives at a critical moment. With growing legislative pressure and increasing tenant and investor expectations, embedding these considerations into business strategies will only grow in significance.