Global Trustee and Fiduciary Services Bite-Sized Issue 12 2025

12 QUICK LINKS COSTS & CHARGES CRYPTOASSETS FINTECH FSB IOSCO OPERATIONAL RESILIENCE SAVINGS AND INVESTMENT UNION SUSTAINABLE FINANCE/ESG T+1 ASIA PACIFIC EUROPE NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 12 | 2025 According to the TNFD, the eight recommendations cover both state-of-nature data used by companies in their assessment of nature-related issues as well as reported data produced by companies, for example about their impacts and dependencies on nature. The TNFD summarised the recommendations to consist of: 1. A set of nature data principles to help enhance the quality of state-of-nature data over time; 2. An accompanying set of metadata standards for state-of-nature data; 3. Proposed harmonisation of licensing and usage agreements to reduce the time and cost experienced by market participants to access state-of-nature data to support their assessment and reporting activities; 4. A Nature Data Public Facility (NDPF) to provide open access to state-of-nature data related to key use cases for business and finance, including SMEs; 5. Incentives and mechanism for companies to provide qualifying state-of-nature data they have collected on a proprietary basis back into the global public commons through the NDPF; 6. A new international institution, a Nature Data Trust , to generate additional funding for state-of-nature data collection and aggregation by operating the NDPF and drive quality improvements across the value chain in accordance with the principals, metadata standards and common licensing arrangements recommended; 7. A nature data measurement protocol to provide market participants with common measurement methodologies for a core set of nature-related dependency and impact metrics, including state-of-nature metrics; 8. Proposal to develop a universal data collection and sharing protocol to streamline the sharing of company data on nature-related impacts and dependencies across value chains. Link to the Recommendations here SBTi Releases Second Draft Corporate Net-zero Standard V2 for Consultation On 6 November 2025, the Science Based Targets initiative (SBTi) released a second draft of its revised Corporate Net-Sero Standard for public consultation. The SBTi says that, informed by feedback from the first public consultation and expert working groups, the updated draft reinforces scientific integrity while improving clarity, actionability, and usability—helping businesses translate science-based ambition into credible action. Introducing a simpler, more streamlined structure and innovative approach, the SBTi says the proposed Standard draft aims to make net-zero target setting easier to understand, apply, and scale across sectors and regions, while maintaining alignment with global climate goals. Key elements of proposed revision include: • Net-zero as the north star, with emphasis on urgent action: – Validated companies are expected to align near-term actions in their operations and value-chains with long-term climate objectives and publish transition plans setting out their roadmap to achieve this. • Scope-specific target approach to enhance integrity and actionability: – A tailored target-setting approach for each scope—includingmaintaining separate requirements for scope 1 and 2 targets—to reflect their unique challenges and decarbonisation levers. • Science-based options to reflect different corporate contexts: – The revised draft introduces a range of options that better reflect the various levers companies have in different contexts, allowing them to prioritise the emissions sources where they can drive the greatest change. These options include actions to reduce emissions directly and indirectly. • Recognition for companies taking responsibility for ongoing emissions: – While the focus remains on direct decarbonisation, the updated draft introduces a new recognition mechanism to incentivise companies that take early, voluntary action to address the impact of their ongoing emissions.