Companies face increasing pressure from key stakeholders such as investors, financiers, customers and business partners to communicate openly about their efforts to reduce climate-related business risks and to foster their long-term competitiveness in the emerging low-carbon economy.
The Task Force on Climate-related Financial Disclosures has created a framework for companies to include information about climate-related risks and opportunities in their financial reporting. Pioneering companies have already begun implementing these recommendations and it will not be long, before financial institutions demand such reporting from all portfolio companies and large borrowers.
Together with our partner We Mean Business Coalition, CLC is committed to encouraging and supporting companies in implementing the TCFD recommendations.
By joining our TCFD challenge, you can upgrade your financial reporting while benefiting from the support of CLC’s unparallelled network of peers. Join today!
How your organisation can join
- Fill in a participation form indicating that your company will work to implement the recommendations of the Task Force on Climate-related Financial Disclosures. The deadline for joining this challenge is 30 June 2019.
- Read and sign the commitment to the principles of the Climate Disclosure Standards Board.
- Attend the opening workshop where you will get useful information to get you started. You will also have an opportunity to share thoughts and ideas with other organisations participating in the challenge.
- Implement the recommendations of the Task Force on Climate-related Financial Disclosures in your company’s financial reporting as fully as practicable within three years from the date of the commitment. Peer support is provided in group meetings, and challenge partners are happy to provide paid consulting services to help you in the process.
Why it is a great idea to join
Implementing the TCFD recommendations in your company’s financial reporting will
- Increase your organisation’s understanding of and preparedness for the risks that climate change presents to your business
- Improve your company’s ability to seize business opportunities arising from climate change mitigation
- Increase your company’s transparency on climate issues for the benefit of key stakeholders such as investors, customers and business partners
- Show your commitment to a low-carbon economy