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.
Preparing for mandatory TCFD reporting including disclosures of scenario analysis
The Financial Reporting Lab has published a report to help companies prepare for mandatory TCFD reporting.
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.
This annual FSB report on TCFD-aligned disclosures shows energy companies and materials and buildings companies are leading on disclosure, while asset manager and asset owner reporting is insufficient.
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.
This PwC report includes expert guidance to improve your reporting and a selection of leading examples.
TCFD Good Practice Handbook (Second Edition)
This CDSB handbook highlights best practice disclosure in financial reports.