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Article name & author

TCFD Insights Series: FTSE 350

Author: CDP

Industry Group: All Industry Groups

Research / Insights - 2022

In 2021, 225 companies (64%) listed on the FTSE 350 index, representing a market capitalization of over US$2.5 trillion, responded to CDP’s climate change questionnaire. This insight piece investigates the disclosing organizations’ alignment with the recommendations of the TCFD and the reported financial impacts of climate-related risks and opportunities.

In April 2022, the UK mandated TCFD-aligned disclosure for the country’s largest traded businesses, banks, and insurers. This will help financial decision makers in understanding businesses’ financial exposure to climate-related risks through clear, comprehensive, and consistent information. Inadequate information about risks can lead to mispricing of assets and misallocation of capital that can potentially lead to concerns about the stability of financial markets and their vulnerability to abrupt corrections.

Additionally, this insight piece looked into the disclosers’ transition plans using a set of CDP indicators. This is in response to the UK government’s announcement to mandate transition plans for listed companies and financial institutions by 2023.

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Keywords: Alignment, Board oversight, Carbon Price, Climate Change, Climate-related opportunities, Climate-related risk, Disclosure/reporting, Governance, Physical risks, Scenario analysis, Strategy
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