Implementing TCFD: Strategies for Enhancing Disclosure

Since the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) put forward a voluntary reporting framework in 2017, a growing number of companies have been working to improve and align public reporting on climate-related risks and opportunities with the task force’s recommendations. The Center for Climate and Energy Solutions (C2ES) supports the TCFD’s recommendations and seeks to enable better and more consistent climate-related financial reporting in the private sector.

C2ES hosted two workshops in early 2019 to further support corporate disclosure efforts, building on three years of work that C2ES has conducted in this space. With these workshops, C2ES sought to help companies translate information gleaned from climate scenario analysis into information that can be used for corporate decision-making. This includes translating information from global climate and energy transition scenario analyses into company-level financial insights. It also includes helping companies assess and disclose the risks and opportunities related to the physical impacts of climate change, including how to demonstrate the financial value of resilience to stakeholders.

This brief identifies best practices, challenges, and lessons learned gathered during these workshops that were held with corporate, government, and other non-profit stakeholders.