WWF Japan Announces Research Report on the 2024 TNFD Disclosure Trends in Japan
2025/09/04
In August 2025, WWF Japan released the report “Japanese Companies’ Trends
in TNFD Disclosures 2024 -Insights from Benchmark Results”. The report draws on the findings of a study covering 65 Japanese companies that made disclosures aligned with the TNFD recommendations in 2024. The analysis examined the content of corporate disclosures, highlighting prevailing trends as well as opportunities for enhanced reporting.
This report is based on the results of a benchmark analysis conducted in line with the “TNFD Key Points” which are the set of benchmarking criteria developed by WWF Japan. While the TNFD has published extensive materials, the items that should be prioritized can differ depending on factors such as the market in which a company operates, its business characteristics, and its current level of practice in addressing nature-related impacts. Against this backdrop, WWF Japan highlighted four key elements from the TNFD framework that are particularly important for early-stage disclosures by companies operating in the Japanese market, regardless of industry or business model. These four elements have been compiled as the “TNFD Key Points”
https://www.wwf.or.jp/activities/data/WWF-Japan-TNFD-Benchmark-report.pdf
Report Structure
The report is organized around four key points, each of which is discussed in detail:
1. Application of Materiality
2. Nature-related Issues and Identification of Priority Locations
2.1 Direct Operations
2.2 Upstream and Downstream Value Chain(s)
3. Mitigation Hierarchy
4. Engagement with Indigenous Peoples, Local Communities, and Affected Stakeholders
For each key point, the report provides the following sections:
1. Overview – a general introduction to the key point
2. Criteria – the standards or considerations used for evaluation
3. Benchmarking Analysis Results – assessment results of 65 Japanese companies
4. Trends in 2024 Disclosures – observed disclosure patterns among companies
5. Looking Ahead: Opportunities for Enhanced Reporting – recommendations and areas for improvement in future disclosures
In addition to these sections, the report includes Case Studies, providing illustrative examples that demonstrate good practices or highlight key challenges.
WWF Japan aims for this survey to serve as a guideline for Japanese companies that have already made TNFD disclosures, and as a reference for those considering future disclosures, enabling them to draw insights from these precedents.
