Responding to calls from the G20 to improve financial sector accounting for climate-related issues, the Financial Stability Board (FSB) established the Task Force on Climate-related Financial Disclosures (TCFD) in 2017 – an industry-led taskforce to develop consistent, voluntary climate-related financial risk disclosures for stakeholders such as lenders, insurers and investors. “Increasing transparency makes markets more efficient and economies more stable and resilient” (Michael R. Bloomberg, CEO of Bloomberg LP and Chair of TCFD).
As the new force in sustainability reporting, TCFD has attracted public support for its recommendations from over 800 private and public sector organisations globally and momentum is increasing, among businesses from all industries. The key to this momentum is the unique approach that TCFD takes: asking businesses to evaluate the impact climate change has on their business, rather than just the impact their business has on the climate.
Aligning your reporting to TCFD satisfies investors and wider stakeholders demands for greater transparency on climate-related risk exposure and management. To align, businesses need to embed four key recommendations related to core elements of organisational operation: governance, strategy, risk management, metrics and targets.
Our TCFD briefing paper will give you an overview of what TCFD is and why businesses should align with its recommendations, including requirements and benefits for your organisations.
Download our TCFD guide here or get in touch today to discuss TCFD and your requirements with one of our expert consultants.
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