The Climate Disclosure Standards Board (CDSB) and the Sustainability Accounting Standards Board (SASB) have released the TCFD (Task Force on Climate-related Financial Disclosures) Good Practice Handbook.
Following the release of the TCFD Implementation Guide in May 2019, this handbook provides real-world examples of TCFD reporting to help companies better understand how they can more effectively communicate with investors about the financially material climate-related risks and opportunities they face.
“This handbook gives companies greater visibility into how their peers around the world are approaching effective climate-related disclosure to investors,” said Madelyn Antoncic, CEO of the SASB Foundation. “As such, it is an actionable and practical resource for companies to use in shaping their own corporate reporting practices and improve the informational efficiency of global capital markets.”
In June 2017, the TCFD published its recommendations for climate-related financial risk disclosures. More than 800 organizations have publicly expressed support for the recommendations, but many have cited a need for practical guidance on how to implement them and how disclosure compares across geographies.
The TCFD Good Practice Handbook provides a range of disclosure examples from many G20 countries organized around the four core TCFD elements of governance, strategy, risk management, and metrics and targets. It also contextualizes the examples with a discussion on the current state of TCFD disclosure globally and offers key takeaways and lessons that arose in the process of identifying and clarifying these practices.
To view the TCFD Good Practice Handbook visit this link
Aligning TCFD with Other Frameworks
Through Cority’s award-winning Sustainability Performance Management software, organizations can meet the reporting requirements of global sustainability reporting frameworks. These include GRI Standards, CDP, UNGC, TCFD, SDGs and many leading financial exchange reporting schemes around the world including SGX, JSE SI, DJSI and FTSE4Good.
You can define unique question sets from these frameworks based on their relevance and materiality to your organization. Data and supporting information is then collected across the organization before being consolidated into internal and external reporting templates as required.
Visit our Frameworks & Standards content library aiming to keep you informed with the latest industry updates and learn more about the available sustainability and ESG frameworks and standards to support your company’s reporting.
Cority is a formal supporter of The Task Force on Climate-Related Financial Disclosures (TCFD) and enables its clients to align their reporting with the TCFD recommendations through its software solutions and support services.