On 14th December, the FSB Task Force on Climate-related Financial Disclosures (TCFD) published its draft recommendations which included disclosure requirements for the financial industry (as preparers of disclosures). While these recommendations do provide the broad areas and topics that should be covered in disclosures, as well as some level of granularity on more technical aspects to be considered, the full implementation of TCFD-aligned disclosures will require considerable additional work; particularly when it comes to the development of the required – and to the extent possible, harmonized – scenarios, models, methods, and metrics. In order to aid the delivery of disclosures in a timely and cost-efficient manner, UNEP FI has decided to establish collaborative working group of first mover FIs to work together towards the piloting of TCFD-aligned climate-related disclosures.
For more information please contact your regional coordinator, Remco Fischer or Simone Dettling.