The G20 Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) is preparing its final recommendations, which will be presented to the G20 Leaders’ Summit in July. As the TCFD considers the final draft of the TCFD guidelines, stakeholders are considering the implications of the TCFD, their utility and how they will be integrated going forward.
The TCFD is led by Michael Bloomberg. The TCFD’s draft recommendations are structured around four themes – governance, strategy, risk management, and metrics and targets and are designed to be adopted by companies across sectors and jurisdictions. They are also designed to be included in mainstream financial filings, to elicit decision-useful, forward-looking information on climate-related financial impacts, to include describing the potential impact of different scenarios (including a 2°C scenario) on the organization’s businesses, strategy, and financial planning and to increase focus on risks and opportunities related to a transition to a lower carbon economy.
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