The Task force on Climate-related Financial Disclosures (TCFD) has been created upon the request of the G20 leaders. It aims to encourage companies and organizations to communicate in a transparent manner on the financial risks linked to climate, in order to help investors to integrate them in their decisions.
In 2017, the TCFD published a set of recommendations to encourage a consistent and reliable financial reporting based on 4 pillars: governance, strategy, measure and objectives, as well as risk management.
| Topic | Recommended Disclosure | Pages |
|---|---|---|
| Governance | Governance Recommended Disclosurea) Describe the Board’s oversight of climate-related risks and opportunities. |
Governance Pages63 |
| Topic b) Describe management’s role in assessing and managing climate-related risks and opportunities. |
Recommended Disclosure 63 |
|
| Strategy | Strategy Recommended Disclosurea) Describe the climate-related risks and opportunities the organization has identified over the short, medium, and long term. |
Strategy Pages213, 214 |
| Topic b) Describe the impact of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning. |
Recommended Disclosure 213, 214 |
|
| Topic c) Describe the resilience of the organization’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario. |
Recommended Disclosure 33, 78 |
|
| Risk Management | Risk Management Recommended Disclosurea) Describe the organization’s processes for identifying and assessing climate-related risks. |
Risk Management Pages213, 214 |
| Topic b) Describe the organization’s processes for managing climate-related risks. |
Recommended Disclosure 213, 214 |
|
| Topic c) Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organization’s overall risk management. |
Recommended Disclosure 213, 214 |
|
| Metrics and Targets | Metrics and Targets Recommended Disclosurea) Disclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management process. |
Metrics and Targets Pages78 |
| Topic b) Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 greenhouse gas (GHG) emissions, and the related risks. |
Recommended Disclosure 78 |
|
| Topic c) Describe the targets used by the organization to manage climate-related risks and opportunities and performance against targets. |
Recommended Disclosure 33, 78 |
Reconciliation tables are presented in chapter 10 of the present document.
