What you need to know about the Taskforce on Climate-related Financial Discloser (TCFD)
The UK Government has confirmed that large UK-registered companies will have to disclose climate-related financial data from April 2022. This makes the UK the first G20 country to enshrine the mandate into law, subject to Parliament approval.
As a business owner interested in preparing for the future and potentially securing the capital you want to start incorporating how to track and disclose climate-related financial disclosures. The Task-force on Climate-related Financial Disclosures was established in 2015 by the Financial Stability Board (FSB) to collect climate-related disclosures around four core elements, governance, strategy, risk management, and metrics and targets
Below are helpful tips around each disclosure area:
Disclose the organisation’s governance around climate-related risks and opportunities.
Disclose the actual and potential impacts of climate-related risks and opportunities on the organisation’s businesses, strategy, and financial planning where such information is material.
c. Risk Management
Disclose how the organisation identifies, assesses, and manages climate-related risks.
d. Metrics and Targets
Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material.
Ready to apply this to your business? Contact Pamila here