The TCFD is no more. Congratulations to the FSB Task Force on Climate-related Financial Disclosures (TCFD) on successfully bringing #climaterisk management and disclosure into the corporate and investor vernacular and ushering practices aligned with the TCFD recommendations into the mainstream. While there's a long way to go until markets have properly assessed, priced in, and managed climate risk, handing the baton over to International Sustainability Standards Board (ISSB) marks a transition to celebrate and build upon. #riskmanagement #climatesmartinvesting #climateaction #TCS #cop28 #climaterisk
Concurrent with the release of its 2023 status report on October 12, 2023, the TCFD has fulfilled its remit and disbanded. The TCFD website and LinkedIn account will remain available to serve as a resource for materials developed by the Task Force but will no longer be updated or monitored. The FSB has asked the IFRS Foundation's International Sustainability Standards Board (ISSB) to take over the monitoring of the progress of companies’ climate-related disclosures. Please visit the below link for more information.
Andrew Eil, How do you see this change impacting climate risk management and disclosure moving forward?
Managing Director at Cross Risk Consulting
9moThanks Andrew Eil for sharing this update. Interesting that its been made official that TCFD will be disbanded. Not a surprise, maybe, given I've heard the ISSB describe their new standards as TCFD+. For those still trying to make sense of all the various sustainability and climate reporting framework, I found the attached chart very helpful.