New TCFD status report
Oct 17, 2022
The Task Force on Climate-related Financial Disclosures (TCFD) set up by the Financial Stability Board (FSB) to develop voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders published a fifth status report providing an overview of the extent to which companies in their 2021 reports included information aligned with the core TCFD recommendations published in June 2017.
The TCFD found that:
- The percent of companies disclosing TCFD-aligned information continues to grow, but more urgent progress is needed.
- All regions have significantly increased their levels of disclosure over the past three years.
- A majority of asset managers and asset owners report to their clients and beneficiaries.
- Nearly 50% of asset managers and 75% of asset owners reported information aligned with at least five of the 11 recommended disclosures.
- The percent of companies disclosing the TCFD recommendations in financial filings or annual reports has increased each year.
- The availability and quality of climate-related financial disclosures has increased since June 2017.
- Investors and others use disclosures in decision-making and pricing.
Review the press release and full report on the FSB's website.
