Companies too often make the mistake of thinking climate change is a long-term issue, but it’s actually affecting decisions today, according to a report by a global commission set to evaluate transparency into financial climate risks and opportunities.
To better understand current climate-related financial disclosure practices and how they have evolved, the Task Force on Climate-related Financial Disclosures (TCFD or Task Force) reviewed—using artificial intelligence technology—reports for over 1,000 large companies in multiple sectors and regions over a three-year period. In addition, the Task Force conducted a survey on companies’ efforts to implement the TCFD recommendations as well as users’ views on the usefulness of climate-related financial disclosures for decision-making.
Nearly 800 organizations have now expressed support for the TCFD and its recommendations
NEW YORK, June 5, 2019 /3BL Media/ – The Task Force on Climate-related Financial Disclosures (TCFD) published its 2019 Status Report to the Financial Stability Board (FSB) today. The TCFD’s second status report provides an overview of disclosure practices aligned with the Task Force’s recommendations between 2016 and 2018. The report also examines the decision-usefulness of existing climate-related financial disclosures to users of disclosure, and evaluates disclosures of strategy resilience and the challenges faced by preparers using scenario analysis.
Paris, December 12, 2017 – Two hundred thirty-seven companies with a combined market capitalization of over $6.3 trillion have publicly committed to support the Task Force on Climaterelated Financial Disclosures (TCFD). This includes over 150 financial firms, responsible for assets of over $81.7 trillion. The TCFD announced the growing support at the One Planet Summit hosted by French President Emmanuel Macron celebrating the two year anniversary of the Paris Agreement. The Task Force, led by Michael R.
On the two-year anniversary of the Paris Agreement, 237 companies with a combined market capitalisation of over $6.3 trillion have publicly committed to support the Bloomberg-led Task Force on Climate-related Financial Disclosures (TCFD). This includes over 150 financial firms responsible for assets of over $81.7 trillion.