Disclosure of climate-related data to TCFD have increased

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  • 06 Jun 2019 12:00 AM
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TCFD Says More Companies Need to Disclose “decision-useful Climate-related Financial Information”

Efforts to disclose climate-related data aligned to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) have increased by more than 50 percent, but concerns remain that companies aren’t providing enough information to inform the investor community. The TCFD published its 2019 Status Report to the Financial Stability Board (FSB) on Wednesday (5 June), providing an overview of disclosure practices aligned with the TCFD’s recommendations. The new report notes that almost 800 organisations have expressed support for the recommendations, an increase of 50 percent on the 2018 Status Report. Supporters include the world’s largest banks, asset managers and pension funds, responsible for assets of $118 trillion. However, despite the increase in support for the recommendations, the report expresses concerns that “not enough companies are disclosing decision-useful climate-related financial information”. Furthermore, the report highlights that of those companies using scenarios, the majority do not disclose information on the resilience of their strategies. Investors need this information to be more capable of making sound decisions.

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