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Task Force on Climate-related Financial Disclosures: 2022 Status Report

This fifth annual status report from the Task Force on Climate-related Financial Disclosures (TCFD) reflects on the implementation of its recommendations…

What Task Force on Climate-related Financial Disclosures: 2022 Status Report requires

This fifth annual status report from the Task Force on Climate-related Financial Disclosures (TCFD) reflects on the implementation of its recommendations since their release in 2017. The TCFD framework provides a structure for companies and other organizations to develop more effective climate-related financial disclosures through their existing reporting processes. These voluntary disclosures are designed to be useful to investors, lenders, insurance underwriters, and others in understanding material risks and supporting informed, efficient capital-allocation decisions. The framework applies to entities with public debt or equity, as well as asset managers and asset owners, including pension plans, endowments, and foundations. The core obligation for these organizations is to disclose information aligned with the TCFD's 11 recommended disclosures, which are organized around four thematic areas: Governance, Strategy, Risk Management, and Metrics and Targets. The TCFD's goal is that through widespread adoption, the financial risks and opportunities related to climate change will become a natural part of companies’ risk management and strategic planning processes. While the report notes that the percentage of companies disclosing TCFD-aligned information continues to grow, it also finds that more urgent progress is needed, as not enough companies are disclosing decision-useful climate-related financial information.

Pillar: Operations & CX · Authority: Task Force on Climate-related Financial Disclosures (TCFD) · Version: 1.0.0 · Last updated:

Primary source: https://assets.bbhub.io/company/sites/60/2022/10/2022-TCFD-Status-Report.pdf

SHA-256 integrity: 4f266478849442999200ed4295edf010570c76fe6c80b7a0ee0f59c51b0c82ff

Primary Citations — 8 traced to source

  • Executive Summary, p. 2: In June 2017, the Financial Stability Board's Task Force on Climate-related Financial Disclosures (Task Force or TCFD) released its final recommendations (2017 report), which provide a framework for companies and other organizations to develop more effective climate-related financial disclosures through their existing reporting processes.
  • Figure ES2, p. 2: Through widespread adoption, financial risks and opportunities related to climate change will become a natural part of companies' risk management and strategic planning processes.

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