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Task Force on Climate-related Financial Disclosures

Climate change presents financial risk to the global economy.

Financial markets need clear, comprehensive, high-quality information on the impacts of climate change. This includes the risks and opportunities presented by rising temperatures, climate-related policy, and emerging technologies in our changing world.

The Financial Stability Board created the Task Force on Climate-related Financial Disclosures (TCFD) to improve and increase reporting of climate-related financial information.

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Benefits of better disclosure


Risk assessment

More effectively evaluate climate-related risks to your company, its suppliers, and competitors.


Capital allocation

Make better-informed decisions on where and when to allocate your capital.


Strategic planning

Better evaluate risks and exposures over the short, medium, and long term.

A message from TCFD Chair Michael R. Bloomberg on the importance of climate-related financial disclosure.

TCFD recommendations

The TCFD has developed a framework to help public companies and other organizations more effectively disclose climate-related risks and opportunities through their existing reporting processes.

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Governance

Disclose the organization’s governance around climate-related risks and opportunities.

Strategy

Disclose the actual and potential impacts of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning where such information is material.

Risk Management

Disclose how the organization identifies, assesses, and manages climate-related risks.

Metrics & Targets

Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material.

Read the TCFD recommendations on climate-related financial disclosure.

Download the report

TCFD consultation: October 29, 2020 – January 27, 2021

Through public consultation, the Task Force aims to better understand the evolution of forward-looking climate-related metrics used and disclosed by asset owners, asset managers, banks, and insurance companies.

Prior to participating in the consultation, we encourage firms to read the Task Force’s consultation document, which provides a brief background and context on climate-related metrics for the financial sector. Our consultation questionnaire seeks input on the usefulness and challenges of forward-looking metrics and invites suggestions on ways to enhance their comparability, transparency, and rigor.

Step 1: Read the consultation

Step 2: Share your input


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