HM Treasury publishes TCFD-aligned disclosure application guidance
26 Jul, 2023
HM Treasury has published guidance on applying the Task Force on Climate-related Financial Disclosure (TCFD) recommendations in central government and, where appropriate, the wider public sector. The guidance applies to reporting periods from 2023-24.
HM Treasury has set out a three-year phased approach to implement the TCFD recommendations in central government annual reports and accounts. The guidance is applicable to Phase 1 which addresses the disclosure requirements in the first year of disclosure. HM Treasury has indicated that application guidance for Phases 2 and 3 will be issued in due course.
The guidance applies to all departments (ministerial and non-ministerial), as well as some central government and wider public sector bodies that meet certain criteria, or where they have been directed/instructed to follow the guidance by their respective relevant authority. Other central government and public sector bodies may voluntarily choose to follow the guidance in full or in part.
The press release and guidance are available on HM Treasury website.
