Fengate Responsible Investment
Nature & Biodiversity In partnership with
Taking the “LEAP” into The Taskforce on Nature-related Financial Disclosures ‒ The asset manager perspective Introduction
TNFD’s LEAP Assessment
As a member of the Taskforce on Nature-related Financial Disclosures (‘TNFD’) and the Canadian TNFD Consultation Group, Fengate recognizes the importance of the protection of our natural ecosystems and preserving our natural capital. Not only is nature loss closely linked to climate change, the World Economic Forum’s research also shows that $44 trillion of economic value generation – over half of the world’s total GDP – is moderately or highly dependent on nature and the ecosystem services that it provides. While climate has been at the top of the global agenda, nature is less understood, more complex to evaluate, and harder to standardize across industries and geographies.
Fengate, like many other organizations, has dependencies and impacts on nature, which gives rise to nature-related risks and opportunities that could have a material impact on business. TNFD developed an integrated approach for the identification and assessment of nature-related issues, called the LEAP approach, or ‘LEAP’ for short (Locate, Evaluate, Assess and Prepare). This approach aims to help organizations conduct the due diligence necessary to inform disclosure statements aligned with the TNFD recommendations, but at an early stage, it is also a useful approach for real estate organizations looking to identify and assess their nature-related issues.
In real estate, this gap is critical: properties depend on healthy ecosystems for resilience, tenant wellbeing, and long-term value creation. Fengate recognizes the value of collaborative dialogue and transparent information sharing to advance TNFD alignment and elevate industry-wide awareness of nature-related risks and opportunities. This paper outlines key steps Fengate is taking, in collaboration with Alvéole, a Montreal-based company specializing in urban beekeeping and nature-based solutions for commercial buildings to assess nature-related risks with the aim of encouraging peers across the sector to adopt similar approaches.
OVERALL APPROACH
LOCATE
In 2025, Fengate partnered with Alvéole to carry out an initial LEAP assessment of our real estate portfolio. The result was a clearer picture of where our assets interact with sensitive ecosystems, the risks and opportunities, and what steps we can take today to mitigate those risks and enhance biodiversity.
Definitions Natural Capital: The TNFD defines natural capital as the stock of renewable and non-renewable natural resources such as plants, animals, air, water, soil and minerals that combine to yield a flow of benefits to people. Ecosystem Services: The contributions of ecosystems to the benefits that are used in economic and other human activity. This includes provisioning services, regulating and maintenance services, and cultural services.
EVALUATE
ASSESS
PREPARE
Taking the “LEAP” into TNFD ‒ The asset manager perspective
1