Ready or not: Are companies prepared for the TCFD recommendations?
Mar 19, 2018
On March 19, 2018, the Climate Disclosure Standards Board (CDSB) and the Carbon Disclosure Project (CDP) released a report on research into 1,681 companies across 14 countries and 11 sectors that shows that there is a gap between the way companies identify climate-related risks and opportunities and how they are preparing to tackle them.
The vast majority of companies acknowledge that climate change poses financial risks for their business with 83% of companies recognizing the physical risks, and 88% identifying policy changes/new regulations as the main risks of transitioning to a low-carbon economy.
But when it comes to turning awareness into action, there is still a disconnect in many sectors and countries. For instance, more than 8 in 10 companies oversee climate change at the board level, but only 1 in 10 provides incentives for the management of climate change issues.
Review the press release and the report on the CDP's website.