5 min read

#1 - TNFD beta framework, already a second version

#1 - TNFD beta framework, already a second version

💡 One idea: TNFD beta framework, already a second version

📈 One data figure: 34 years before we are 10 billion

One success: Alice, the “first all-electric commuter aircraft”, by Eviation

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💡 TNFD beta framework, already a second version

The Taskforce on Natural-related Financial Disclosures (TNFD) recently released its second report. You can find here the key takeaways of this new beta version. If interested in the all framework, feel to deep dive into the Version v0.2 Beta.

This is a very promising achievement with feedback contributions received from over 130 market participants. I was surprised that so few people were discussing it on social media platforms or in the office.

The TNFD is still far less renowned than her elder sister the TCFD but this second report is a milestone in the work of the group of experts and in the emergence of nature-related disclosures. This is evidence of the crucial need for a modern tool to measure the impact businesses and economic activities have on nature, beyond climate change aspects.

Living on a better planet is not only a matter of temperature or, in other words, of CO2 and other greenhouse gas emissions accounting. Public authorities and customers also wish to know how companies contribute to the protection, or rather the destruction, of ecosystems and the biodiversity they host. I believe this is a much-justified trend, given that biodiversity loss poses an equally dangerous risk for humanity than climate change. See the IPBES Global Assessment Report on Biodiversity and Ecosystem Services.

In the near future, we will surely speak about nature footprint as often as carbon footprint. Companies will have to measure and disclose their biodiversity scope 1, 2 and 3, meaning that they will have to analyse their supply chain too. This will probably be particularly true in the food sector where agricultural production is often linked to significant ecosystem loss.

New frameworks such as the TNFD one will be highly needed. But it also means that new services will appear. Following the boom of consulting companies offering carbon footprint calculation and life cycle assessment, new teams of consultants will be hired and trained to perform new types of nature-related analysis. Moreover, new tools and technologies will assist, automate and build credibility in this space. In particular, I think of powerful remote sensing tools and algorithms that can capture land use change yearly and of any tool that could standardise the measure of biodiversity in a given space, over time. On top of this, biodiversity credits might emerge as a new commodity alongside with carbon credits.

The TNFD intends to release v0.3 and v0.4 of the beta framework in November 2022 and February 2023 , before the launch of the final recommendations in September 2023. Stay tuned!

📈 34 years before we are 10 billion

34 years only from now, we will be 10 billion people living on our little planet. According to the UN, this milestone will be reached no later than in 2057.

In 2057, India will be the most populous country with almost 1.7 billion inhabitants, followed by China (1.35 billion), and Nigeria (454 million). The global population will have grown from 1 billion people in 1800 to 10 times more 250 years later only.

This frightening countdown (and many others) is available on The World Counts website. I warmly recommend that you take a look.

Such a peak does not seem entirely sustainable. As we already need 1.8 planet Earth's worth of natural resources to cover our needs, this trend will necessarily result in major economic hazards. Nevertheless, experts forecast a global population decline by the end of the century. To read more about this idea, I found this fascinating article: World population likely to shrink after mid-century, forecasting major shifts in global population and economic power.

✨ Alice, the “first all-electric commuter aircraft”, by Eviation

Eviation Aircraft was founded in 2015 in Israel by two entrepreneurs ready to disrupt the electric flights' industry. In 2022, after relentless runway testing and first flights, its aircraft Alice is set to be purchased by commercial airlines for the first time.

The aircraft has received orders from Cape Air for 75 units. The airline conducts 400 regional flights a day to nearly 40 cities across the US and the Caribbean. The Alice solution being particularly appropriate for island hopping (and for high-end clients), Cape Air intends to become the Caribbean’s first electric airline.

Alice is able to accommodate up to nine passengers and two pilots. On a single charge, it can fly a maximum range of 800 km at 400 km/h, which fits well with the battery capabilities for such aircraft in today's market. For now, the premium segment on one to two-hour flights is the focus.

DHL Express also expressed its interest and is going to buy 12 units of the cargo version.

Gregory Davis, President of Eviation, pledged to “bring the best all-electric aircraft into the market” and to reduce operating costs by up to 50% compared to traditional kerosene-fueled aircraft on similar routes. With service entry planned for 2024, the company wish to redraw the short-haul route map by the end of the decade.

“Looking at the whole idea of sustainable aviation - including financially sustainable, there are a lot of tailwinds that we have that we can then offer to the end user of the aircraft,” stated Gregory Davis.

There are thousands of small airports in North America and Europe that are underutilised. Electric, sustainable aircraft such as Alice could design a network of micro routes for everyday use. Consumers' expectations and governments' regulations are indeed heading in the right direction.

Nevertheless, one could argue that the best modes of transportation for short hops are buses and trains. With the right networks in place, these solutions will long be far more cost-effective for the mass market.

Moreover, contrary to what Eviation highlights on its website, flying Alice is not and will never be carbon neutral. The carbon footprint of such a flight heavily depends on the way the electricity was produced. Plus, the fabrication and the recycling of batteries are still impactful and problematic.

The less polluting flight remains the one you don’t take.

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