13 June 2018
About the TCFD
The Financial Stability Board (FSB) founded the TCFD, appointing Michael Bloomberg as its chair, as a market-driven initiative to develop voulantary, consistent, climate-related financial risk disclosures for use by companies in providing information to investors, lenders, insurers, and other stakeholders.
The approach focuses on the physical, liability and transition risks associated with climate change and what constitutes effective financial disclosures across industries. The aim is to help companies understand what financial markets want from disclosure in order to measure and respond to climate change risks, and to encourage firms to align their disclosures with investors’ needs.
The TCFD’s 32 members were chosen by the FSB to include both users and preparers of disclosures from across the G20’s constituency covering a broad range of economic sectors and financial markets. They also engage extensively with key stakeholders to ensure they are building on existing work and ensuring recommendations can be used by the private sector, globally.
The Task Force released its final Recommendations report and supplemental materials on Thursday, June 29, 2017.
For more infomration, please visit the TCFD’s website at www.fsb-tcfd.org.
TCFD in Asia
In March of this year, the TCFD and Singapore Exchange (SGX) held a conference on the recommendations of the TCFD focused on the ASEAN market. This included highlights on the experiences of Asian companies including City Developments Limited (CDL), Sime Darby Plantation Berhad, Singtel and Asia Pulp and Paper, as well as regional views from global companies such as Shell.
Presentations from the ASEAN Conference on the Recommendations of the TCFD can be found here.
The webinar will be an overview of the TCFD recommendations. As a member of the Secretariat, Bloomberg will go through how the structure of the TCFD recommendations and their successful use will help address the risks and opportunities presented to companies and the financial markets from climate change.
The webinar will also highlight the benefits of companies adopting such disclosure, what first steps they should take, what global initiatives to watch for guidance and how they can take advantage of publicly supporting the TCFD.
This webinar is exclusive to CSR Asia’s Strategic Partners. To register, please click here.
The CSR Asia Strategic Partner program connects leading companies and NGOs across Asia who share a commitment to sustainable development. Strategic Partners use the network to discuss key issues, share best practice and challenges and connect with peers within their industry and the wider sustainability community.