Task Force on Climate-Related Financial Disclosures (TCFD)

Disclosure regulations continue to grow – get ready

Disclosing climate risk and climate change related information has become a reporting ‘best practice’ worldwide – a practice led by the financial sector.

For the first time in 2021 the Australian Prudential Regulation Authority (APRA) and the Reserve Bank of Australia (RBA) clearly stated the commitment to address climate change risk in the financial sector.

Media release 26 November 2021:

APRA considers that effective decision-making by financial institutions needs to include a full consideration of risk, including the potential impacts of physical, transition and liability climate risks. Read more about the Prudential Practice Guide CPG 229 Climate Change Financial Risks (CPG 229).

Additionally, the number of regulations mandating companies to report climate risk and to align with the four pillars of the Taskforce for Climate-Related Disclosures (TCFD) guidelines is growing globally. These pillars are as follows:

1. Governance,
2. Strategy,
3. Risk management,
4. Metrics and targets.

Our reputation for comprehensive reporting and auditing

We provide meticulous, comprehensive reports for environmental, energy, and carbon accounting. Our highly-skilled and highly-accredited team and our work across sectors means are well-positioned to assist you with your TCFD. Take a look at our accreditations.

Here are a few ways we can help

• Conduct TCFD readiness assessments to help you work through the requirements of the TCFD framework and assess the extent to which your organisation is ready to start producing TCFD disclosures.
• Independently review your TCFD (and related) disclosures against emerging best practice.
• Help you prepare your submission by working through the key pillars of the TCFD framework. This may include, for example, measuring your carbon footprint and assessing your exposure to carbon and climate risk.

Financial and business decisions and Nature

The Task Force on Nature-Related Disclosure (TNFD) is similar to the TCFD but focuses on understanding and reporting and the risks of nature loss. We can assist you with both reporting processes. Contact us about TNFD and TCFD services

Find more information

• For more about the framework visit the TNFD website.
• Take a look at our analysis of COP 15 UN Biodiversity Conference, Montreal (December, 2022).