Momentum is growing for organizations to formally and transparently articulate the risks that climate change poses to the value of their assets and their future profitability. The Task Force on Climate-related Financial Disclosures (TCFD) has emerged as a response to this call for action, empowering companies to more effectively measure and evaluate their own risks and those of their suppliers and competitors. The TCFD promotes “consistent, comparable, reliable, clear, and efficient” voluntary climate-related financial disclosures, and has developed comprehensive recommendations and resources in support of this. These resources focus on governance, strategy, risk, metrics, targets, and the use of scenario analysis for evaluating climate-related financial risks and opportunities.
The work of the TCFD has culminated in a comprehensive Final Recommendations report and several supplemental reports, including a Technical supplement, which provides in-depth information and tools for using scenario analyses to understand the strategic implications of climate-related risks and opportunities to your organization.