Resource Database

The AMF assessed the implementation of the TCFD framework by 10 French financial institutions, based on an in-depth analysis of their reports and interviews. This study highlights the main difficulties faced and presents good practices and next steps in order to support the institutions who choose to disclose climate risks and opportunities against this voluntary framework.

This resource is also available in French.

In this report CDSB has taken a deep dive into the environmental disclosures of the largest listed companies in the EU. The third in the series, we pick up where our previous report ‘Falling Short?’ left off. We will compare where we were then, and what progress has been made, and will find from this comparison a clear sense of progress, which nevertheless fails to demonstrate a fast enough acceleration to achieve the change that is needed.

The review assessed the strengths and weaknesses of companies’ disclosures, based on the required disclosures under the NFRD, and the recommendations of the TCFD.

With this report, the ECB has endeavoured to provide a snapshot of the level of disclosure of climate-related and environmental risks in the SSM countries. The assessment was performed in view of the supervisory expectations set out in the “ECB Guide on climate-related and environmental risks”. To that end, the comprehensiveness of climate-related and environmental risk disclosures of 107 significant institutions (SIs) and 18 less significant institutions (LSIs) in the reference year 2019 were assessed.

While the assessment did not cover exhaustively all the elements needed to comprehensively disclose institutions’ risk profiles, and although only the existence of disclosures was assessed, this report provides an overview of the state of climate-related and environmental risk disclosures in the SSM area in 2020, also with respect to the related supervisory expectation. It also provides an overview of observed practices and areas for improvement. It is the second assessment of this type to be performed by the ECB, with the first one focusing on disclosures in the reference year 2018. It provides a baseline against which progress towards alignment with supervisory expectations can be measured going forward.

This report investigates banks’ climate-related financial risks and their exposure to a disorderly transition. Based on the finding that a majority of bank lending is in climate-exposed sectors, the report also lays out a blueprint for bank action with key recommendations for how banks can discuss their climate risk exposure and the mitigation strategies they can use to address this risk exposure and broader climate-related societal impact.

This report develops a robust and inclusive strategy to amplify and mainstream the global transition to a net-zero emissions economy. It calls upon governments, businesses, and financial institutions to each take steps toward achieving the net-zero imperative. The report makes clear that the actions taken today and in the very-near term will be essential to ensuring our collective environmental, social, and economic sustainability.

The report urges governments to establish comprehensive and transparent policy frameworks for reaching net-zero emissions by 2050, which must be built upon robust policy credibility. These frameworks will serve as transition guides for businesses who, for their part, must implement corporate reforms to align themselves with the net-zero imperative. Additionally, the report highlights the need for expanded disclosure of decision-useful, environment-related information by firms. The report further presses financial actors to more fully assess the risks inherent to climate change and the net-zero transition and seek the benefits that can be had by channeling capital toward green innovation. It is incumbent upon all economic actors today to act boldly and quickly to implement the measures necessary to ensure a prosperous and temperate future for humanity and the planet.

In our second year of reviewing the progress of TCFD disclosure, we’ve found the FTSE 100 move to a scenario where the majority reference TCFD, from a majority that didn’t (67%, up from 39% last year). Financial companies continue to take the lead, with almost all reporting on the recommendations, compared to two thirds of the non-financial services companies.

Other findings include a significant increase in companies setting ambitious targets to reduce emissions, with 46% of companies setting net zero or science based targets (from 25% last year). We also noted that Leadership a key driver to TCFD disclosures, with companies that describe leaderships approach to climate issues generally disclosing more information under the TCFD compared to companies that don’t.

Full Disclosure: Improving corporate reporting on climate risk captures the views of investors who are reading and using company reporting to inform investment decisions, manage portfolio level risk and set strategies for transitioning to net zero emissions.

It sets out what investors expect from the next generation of climate reports, how investors are using corporate reporting on risk, strategy and opportunity and includes recommendations for strengthening disclosure against scenario analysis.

The report provides insight on investor priorities for the four pillars of the TCFD, and uses contemporary case studies to identify the gaps in current practice.

The GARP Risk Institute recently conducted its second annual global, cross-sectoral survey on climate-related financial risks, and now presents the results in a comprehensive report. Through the lens of governance, strategy, risk management, metrics and scenario analysis, the report examines how firms measure and manage the risks and opportunities associated with climate change.

Climate disclosures within the Annual Report – An Australian focus is a guide to help businesses communicate the impacts of climate on their business models, strategy, financial performance, and future prospects in their Annual Reports and Financial Statements. It will help you navigate the different disclosure requirements and recommendations applicable in Australia that may be impacted by climate risks.

This practical example, created by A4S and SSE, shows how the company has implemented the recommendations from the Task Force on Climate-related Financial Disclosures (TCFD). SSE’s work has included:

– Developing scenario analysis​
– Quantifying climate-related risks and opportunities​
– Enhancing governance and management of climate-related issues​

This case study is part of the A4S’s support for the implementation of the TCFD recommendations.

The 2019 EY Global Climate Risk Disclosure Barometer provides a snapshot of the uptake of the recommendations by the Task Force on Climate-related Financial Disclosures (TCFD) — a key measure for climate-related disclosures. The report examines disclosures from over 950 companies across a range of sectors in 34 markets during the 2018–19 reporting period. It provides insights into reporting across regions and sectors, plus suggested areas of improvement for climate disclosures.

The production, transformation and distribution of food, agriculture and forest products are routine and essential aspects of global society. These sectors are critical for people’s health, survival and well-being, providing food, buildings, packaging and infrastructure. They also support the livelihoods of millions of people through their multi-tiered and complex value chains.

The Food, Agriculture and Forest Products TCFD Preparer Forum is a collaboration between Mondi, Nestlé, Olam, Stora Enso, Syngenta, Unilever and the World Business Council for Sustainable Development (WBCSD). It aims to advance the implementation of the recommendations of the TCFD by providing commentary on members’ individual experiences, supported by examples of effective practices.