This announcement follows its final status report, published in October 2023.  As of November 2023, the TCFD website will no longer be updated or monitored but will remain available to serve as a resource for materials developed by TCFD.

With the International Sustainability Standards Board’s (ISSB) inaugural standards having been released (IFRS S1 General Requirements for Disclosure of Sustainability-Related Financial Information and IFRS S2 Climate-related Disclosures), the TCFD’s work is now complete.  The Financial Stability Board (FSB) has therefore requested that the ISSB assume responsibility for monitoring progress on the state of climate-related financial disclosures by companies as of 2024.

This announcement does not change mandatory requirements in respect of TCFD disclosures. The Financial Conduct Authority (FCA) listing rule requiring listed companies to make disclosures that are consistent with the TCFD recommendations continues in force until and if the FCA changes the rule. The FCA has stated its intention to update its climate-related disclosure rules to reference the ISSB standards once they are available for use in the UK.

The announcement is available on the TCFD website.