Transnational companies have substantive impacts on nature: a hallmark of living in the Anthropocene. Understanding these impacts through company provision of information is a precursor to holding them accountable for nature outcomes. The effect of increasing disclosures (of varying quality) is predicated on ‘information governance’, an approach that uses disclosure requirements to drive company behaviour. However, its efficacy is not guaranteed. We argue that three conditions are required before disclosures have the possibility to shape nature outcomes, namely: (1) radical traceability that links company actions to outcomes in particular settings; (2) developing organizational routines, tools and approaches that translate strategic intent to on-the-ground behaviour; and (3) mobilizing and aligning financial actors with corporate nature ambitions. While disclosure is key to each of these conditions, its limits must be taken into account and it must be nested in governance approaches that shape action, not just reporting. This article is part of the theme issue ‘Bringing nature into decision-making’. © 2024 The Authors. Published by the Royal Society under the terms of the Creative Commons Attribution License.
Funding details: David and Lucile Packard Foundation, DLPF, 2019-68336, 2022-73546, 2017-66205
Funding details: Walton Family Foundation, 00104857, 2018-1371, 2017-693
Funding details: Gordon and Betty Moore Foundation, GBMF, 5668.02, 5668.01
Funding details: Knut och Alice Wallenbergs Stiftelse, 2021.0343
Funding text 1: J.B., R.B. and H.\u00D6. were funded by the Walton Family Foundation (grant nos 2017-693, 2018-1371, 00104857), the David and Lucile Packard Foundation (grant nos 2017-66205, 2019-68336, 2022-73546) and the Gordon and Betty Moore Foundation (grant nos 5668.01, 5668.02). J.-B.J. was funded by the Knut and Alice Wallenberg Foundation (grant no. 2021.0343). Feedback from Thorsten Sellhorn and two anonymous reviewers is gratefully acknowledged.
Funding text 2: J.B., R.B. and H.\u00D6. were funded by the Walton Family Foundation (grant nos 2017-693, 2018-1371, 00104857), the David and Lucile Packard Foundation (grant nos 2017-66205, 2019-68336, 2022-73546) and the Gordon and Betty Moore Foundation (grant nos 5668.01, 5668.02). J.-B.J. was funded by the Knut and Alice Wallenberg Foundation (grant no. 2021.0343). Acknowledgements