FSB Task Force on Climate-related Financial Disclosures (TCFD)’s Post

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.

Last week, the TCFD released its sixth and final status report. Key findings include: Ninety-seven (97) of the 100 largest companies in the world have declared support for the TCFD, report in line with the TCFD recommendations, or both. Over 80% of the largest asset managers and 50% of the largest asset owners reported in line with at least one of the 11 recommended disclosures. Click here for additional highlights and findings.

Today, the TCFD published its sixth and final status report, which highlights steady momentum in companies disclosing TCFD-aligned information. On average for fiscal year 2022, companies reported in line with 5.3 of the Task Force’s 11 recommended disclosures, up from an average of 3.2 in 2020. While levels of disclosure are increasing, they still fall short of the 11 recommended disclosures. Click below to read more.