The climate crisis is a stark reality. Significant climatic shifts are causing irreversible long-term damage to the environment, a rising frequency of natural disasters and humanitarian crises across the world. Financial markets and businesses are feeling the impact, too. Flooding, wildfires and other extreme events are resulting in systemic macroeconomic shocks. Chronic changes to the environment, such as rising sea levels, are leading to unexpected financial losses. According to reports, almost $43 trillion of assets and investments could be wiped off because of climate change-related risks. It is critical (and in some cases mandatory), therefore, that businesses plan for climate change by following the Taskforce’s recommendations on Climate-Related Financial Disclosure.
To encourage organisations to move in the right direction, last year the UK announced that reporting in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) will become mandatory by 2025 across the economy, with premium listed companies expected to comply by the end of this year.
In this episode of Avieco Answers, CEO Ben Murray and Associate Director Laura Jordan tackle some of the complexities around TCFD disclosure and discuss the most frequently asked questions that our sustainability experts encounter when speaking to clients and the wider market.
The world of sustainability is changing rapidly – it can be hard to grasp which trends will have the greatest impact on your industry. For this reason, we have created Avieco Answers: a series of videos that go to the heart of the sustainability topics that are relevant to you. From science-based targets to zero waste, our experts will share their insights on sustainability’s most pressing issues, and explain how they might impact your business and your sector.
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