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The Financial Stability Board (FSB) created the Task Force on Climate-related Financial Disclosures (TCFD) in 2015 to improve and increase reporting of better climate-related financial information.
The TCFD developed a framework, published in 2017, which primarily aims to ensure that financial risks and opportunities related to climate change become a natural part of companies’ risk management and strategic planning processes.
The disclosures required under TCFD will help investors and others understand how reporting organisations think about and assess climate-related risks and opportunities, ultimately leading to a more efficient allocation of capital to support the climate transition.
In addition to entity-level reporting, under the TCFD Framework, IW&I UK also produces reports at a product level.
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