Task Force on Climate-related Financial Disclosures : Status Report
Sep 30, 2018
In September 2018, the Task Force on Climate-related Financial Disclosures (TCFD) released its 2018 Status Report. While many companies report on environmental issues, most have yet to specifically provide the market with consistent information on the financial implications of climate change for their businesses.
While the Task Force found some of the results of its disclosure review encouraging, it also recognized further work is needed for disclosures to contain more decision-useful climate-related information. The majority of companies reviewed disclosed information that is aligned with at least one of the recommended disclosures in their financial filings, annual reports, or sustainability reports.
The review results also indicate that climate-related financial disclosures are still in early stages. This is consistent with the Task Force’s view that implementation of its recommendations is a journey and companies are in different places in terms of their exposure to climate-related risks and opportunities and their reporting capabilities.
In the coming year, the TCFD plans to vigorously support further implementation efforts.
