In its latest status report the Taskforce for Climate Disclosure (TCFD) has revealed that 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.
The report also revealed that 97 out of the 100 largest companies in the world have declared support for the TCFD, report in line with TCFD recommendations, or do both.
It also highlighted that whilst the percentage of public companies disclosing TCFD-aligned information continues to grow, more progress is needed with 58% of companies disclosing in line with at least five of the 11 companies.
“The Task Force on climate-related Financial Disclosures has been instrumental in advancing consistent climate-related financial disclosures around the world,” said FSB Chair Klaas Knot.
“It’s recommendations serve as the basis upon which the ISSB and various jurisdictions have built disclosure requirements.”
“As the Task Force’s work comes to a close, I would like to commend it for its achievements promoting clarity and consistency across global climate-related financial reporting.”
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Head of TCFD secretariat and vice chair for global public policy at Bloomberg, Mary Schapiro added: “The TCFD has helped to drive immense progress on climate-related financial disclosures – and this year’s Status Report shows how far we have come.”
“We are grateful for the partners who have made this important work possible, including the Financial Stability Board (FSB) for its leadership in establishing the TCFD, the Task Force members, and Chair Michael Bloomberg.”
“It has been an honour to lead this work and I am proud to cap off a remarkable eight years with today’s report and look forward to continued efforts to further progress on transparency, particularly in support of the development of net zero transition plans”.
