What is TCFD?
TCFD stands for Task Force on Climate-Related Financial Disclosures. It was formed after a review by the Financial Stability Board (FSB) into how the financial sector can best take account of climate-related issues. It is the first international initiative to examine climate change in a financial stability context.
TCFD Report Recommendations
In July 2017, the Task Force released its Recommendations report. This report sets out a framework for corporations to identify, quantify and disclose their climate-related financial risks in a consistent manner. It offers guidance to companies on reporting and publishing their progress through their annual reports.
Anthesis believe that by investing in and implementing the right governance, risk management and strategic planning processes, companies can become more resilient to the risks associated with climate change. And through effective reporting, they will be in a strong position to make better decisions for their future business, as well as fully informing the stakeholders who care about their business.
Time to Act on Climate Risks
Understanding climate-related risks and building them into your financial reporting is undoubtedly challenging. But the methods and tools that enable you to do so are maturing rapidly, as are the expectations of investors and regulators for better information. Companies that fail to grasp this agenda now face a range of risks and uncertainties.
We believe now is the time to act.