The introduction of the Taskforce on Climate-related Financial Disclosures (TCFD) and the UK Government’s decision to mandate this across all parts of the economy by 2025 has seen a significant shift in the reporting and disclosure expectations facing many businesses. How to report, how often and with what approach are now questions boards are having to grapple with. Once a climate target has been set and the plan to achieve it developed, reporting and disclosure should become a more straightforward endeavour for the business.
On this page:
Planning ahead: Climate and annual reporting
What practical considerations do non-executive directors need to be aware of with the evolution of climate reporting and disclosure over the next few years? Explore a range of different perspectives on the topic, covering regulation, where to get started, how to progress and what you can learn from other businesses and their approaches.
Which framework should you report to? How should you report? What are the benefits?
For an overview of the major voluntary and mandatory environmental frameworks, delve into The Big eBook of Sustainability Reporting Frameworks by Ecoact.
Read more about well-recognised organisations focused on targets and reporting to drive and support climate action here.
How should climate-related matters be factored into a company’s financial reporting? What might this look like?
Are you looking to integrate climate-related matters into your financial statement? This CDSB guidance is designed to help.
Explore this question through the third EY Global Climate Risk Disclosure Barometer, providing a global snapshot of the increasing corporate focus on climate risks and opportunities.
Proposals to enhance climate-related disclosures
Learn about the FCA policy position (December 2020) on disclosures required under the UK listing rules.
The Financial Stability Board (FSB) monitors and assesses vulnerabilities affecting the global financial system and proposes actions needed to address them. It formed the Taskforce on Climate-related Financial Disclosures (TCFD) to develop voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to investors, lenders, insurers, and other stakeholders.
The Task Force on Climate-related Financial Disclosures: A guide to alignment
EcoAct provides an explanatory guide to the TCFD and its recommendations, including some practical guidance for implementing them and improving your climate-related actions and disclosures.
2020 Status Report: Task Force on Climate-related Financial Disclosures
The third annual status report on TCFD finds that disclosure of climate-related financial information aligned with the TCFD recommendations has steadily increased since the recommendations were published in 2017. Companies in the energy, materials and building sectors are leading on disclosures.
Briefing: TCFD disclosures
Reporting the impact of climate change on your business is increasingly becoming a legal requirement. The Carbon Trust looks at what the TCFD is, how it affects your business, and what the benefits are.