Skip to main content

IMPORTANT MESSAGE – PLEASE READ

Concurrent with the release of its 2023 status report on October 12, 2023, the TCFD has fulfilled its remit and disbanded. The FSB has asked the IFRS Foundation to take over the monitoring of the progress of companies’ climate-related disclosures.

As of November 2023, this website will no longer be updated or monitored but will remain available to serve as a resource for materials developed by the Task Force. The Task Force is deeply grateful to all parties involved for their input, support, and adoption of the TCFD recommendations.

TCFD Recommendations


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

Recommended disclosures


a. Describe the board’s oversight of 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 climate-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