Climate-Related Financial Disclosures#
“Now is the time to ensure that every financial decision takes climate change into account.” –
Mark Carney, UN Special Envoy on Climate Action and Finance, Governor of the Bank of England, December 2019
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G20 Finance Ministers and Central Bank Governors asked the
Financial Stability Board (FSB) to review how the financial sector can take account of climate-related issues.
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- • could “promote more informed investment, credit, and insurance underwriting decisions”#
- • in turn, “would enable stakeholders to understand better the concentrations of carbon-related assets in the financial sector and the financial system’s exposures to climate-related risks.”#
The Task Force’s 31 international members, led by Michael Bloomberg, include providers of capital, insurers, large non-financial companies, accounting and consulting firms, and credit rating agencies.
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To get an overview of the TCFD-activities there is introductory material in a
booklet from March 2019 and Workshops in a Box from February 2022. Workshops in a Box is a set of five presentations for use in introductory workshops on the TCFD recommendations to help support adoption and implementation. The
first workshop presentation provides an introduction to the TCFD and an overview of the four TCFD recommendations for climate-related financial disclosure. The remaining four workshop presentations provide more details on each of the TCFD recommendations, including example disclosures.
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