TCFD Implementation Guide

TCFD Implementation Guide (2019)

This paper offers practical guidance on fulfilling the TCFD recommendations for corporate disclosures of climate-related information using market-tested frameworks, standards, and resources from the Sustainability Accounting Standards Board (SASB) and the Climate Disclosure Standards Board (CDSB).

Primary Functions

  • Find practical guidance on fulfilling the TCFD recommendations for corporate disclosures of climate-related information that supports informed decision-making and capital allocation.

Detailed Description

 

In June 2017, the Task Force on Climate-related Financial Disclosures (TCFD) issued its final recommendations for producing consistent, comparable, clear, and reliable corporate disclosures of climate-related information that would support informed decision-making and capital allocation by investors, lenders, and insurance underwriters. More than a year and a half later, although more than 617 organizations have publicly expressed support for the TCFD, far fewer appear to have used the recommendations to guide their climate-related disclosures.

In explaining this implementation gap, market participants have cited a need for practical guidance for companies to use in attempting to fulfill the principles-based recommendations and make the 11 recommended disclosures in their mainstream reports. The Sustainability Accounting Standards Board (SASB) and the Climate Disclosure Standards Board (CDSB), two well-established organizations with rigorously developed TCFD-aligned reporting tools, are uniquely positioned to provide this guidance.

This paper is the first in a series of practical, TCFD-focused resources CDSB and SASB intend to develop and make available in the coming months and years, as climate-related tools and reporting practices continue to mature.

By offering how-to guidance, this publication aims to help companies enhance the robustness, consistency, comparability, and utility of TCFD implementation and reporting through SASB and CDSB’s market-tested frameworks, standards and resources.

The guidance adheres to the following structure:

  • Overview: An overview of the TCFD, SASB, and CDSB, and the drive for effective corporate climate-related disclosures;
  • Getting Started: Key action steps to help companies lay the groundwork for effective climate-related disclosures;
  • Good Practice Disclosure: Sample disclosures and accompanying discussion to provide companies with a practical understanding of the four core elements of the TCFD recommendations and their specific disclosures; and
  • Looking Ahead: A summary of how the CDSB Framework and SASB standards represent a clear solution to TCFD implementation, and areas of future focus.
Was this helpful?
Let us know if you liked the post. That’s the only way we can improve.
Yes2
No0

Additional information

Developer

,

Scope

Types

Topics & SDGs

WWF Mitigation

, ,