The recommendations have been published in a major report by the TCFD. The report is the result of the first industry-led effort to create guidelines for disclosing climate-related risks and opportunities in mainstream, public, financial filings. It contains draft recommendations for a voluntary disclosure code.
The Task Force’s recommendations provide a foundation to improve investors’ and others’ ability to appropriately assess and price climate-related risk and opportunities. They aim to be ambitious, but also practical for near-term adoption.
The Task Force expects to advance the quality of mainstream financial disclosures related to the potential effects of climate change on organisations today and in the future and to increase investor engagement with boards and senior management on climate-related issues.