The Task Force will develop “voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders”.

It will seek to “develop a set of recommendations for consistent, comparable, reliable, clear and efficient climate-related disclosures, as set out in the FSB’s proposal in November”.

The first stage of work of the Task Force, expected to be completed by end-March 2016, will be to determine the objectives and scope of its work.  The second stage, expected to be completed the end of 2016 and including a public outreach, will focus on delivering recommendations for voluntary disclosure principles.

The press release is available on the FSB website.

*Update 21 January 2016 - the FSB has now announced the initial membership of the Task Force (link to FSB website) which "includes a balance between preparers and users of financial disclosures, and comprises members from both financial and non-financial companies across a range of countries and relevant areas of expertise".  The Task Force has launched a website which can be accessed here.**