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TCFD Recommendations


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

Recommended disclosures


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


b. Describe management’s role in assessing and managing 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.

Recommended disclosures


a. Describe the climate-related risks and opportunities the organization has identified over the short, medium, and long term.


b. Describe the impact of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning.


c. Describe the resilience of the organization’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario.


Risk Management

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

Recommended disclosures


a. Describe the organization’s processes for identifying and assessing climate-related risks.


b. Describe the organization’s processes for managing climate-related risks.


c. Describe how processes for identifying, assessing, and managing climated-related risks are integrated into the organization’s overall risk management.


Metrics and Targets

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

Recommended disclosures


a. Disclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management process.


b. Disclose Scope 1, Scope 2 and, if appropriate, Scope 3 greenhouse gas (GHG) emissions and the related risks.


c. Describe the targets used by the organization to manage climate-related risks and opportunities and performance against targets.



1

Disclosure should represent relevant information


2

Disclosure should be specific and complete


3

Disclosure should be clear, balanced, and understandable


4

Disclosure should be consistent over time


5

Disclosure should be comparable among companies within a sector industry or portfolio


6

Disclosure should be reliable, verifiable, and objective


7

Disclosure should be provided on a timely basis