Climate change risk and reporting

Our Expertise

• Task Force on Climate-related Financial Disclosures

  Around the world, businesses and regulators are urgently engaging with the Task Force on Climate-related Financial Disclosures (TCFD). The TCFD provides a framework of recommendations that guides how organisations identify, assess and manage the risks and opportunities stemming from climate change and the transition to net zero. It addresses four thematic areas of business operations: governance; strategy; risk assessment; and metrics and targets. These themes are reported on in mandatory and non-mandatory disclosures. RSK can support organisations both in the delivery of component parts of their disclosure or as a whole, depending on the needs of the client.

• Scenario analysis

  Scenario analysis is a risk management tool that enables users to understand future risk factors and combinations of risk. By analysing multiple climate change scenarios or shared socio-economic pathways, companies can develop a clear and in-depth understanding of the risks to their assets and activities, which enables them to make informed decisions with respect to these and the potential solutions that they may implement. Scenario analysis can also aid with the development of corporate and/or climate-related strategies to guide company activities successfully into the future.

• Adaptive capacity assessment

  Adaptive capacity is the ability of a system to adjust to risk and to take advantage of opportunities. In accordance with ISO 14091, RSK can examine organisational, technical, financial and ecosystem capacity (as applicable) to determine the extent to which the current level of adaptive capacity matches the required level. This can be done for a single scenario or time horizon or across multiple scenarios, to suit the needs of our clients. The outcomes of this type of assessment support our clients and partners to identify potential areas for adaptive capacity improvement, thus enabling them to implement the necessary solutions.

• Horizon scanning

  Identifying and examining future events and emerging trends supports organisations to prepare for potential opportunities and threats. To do this, RSK systematically reviews information regarding law and policy, market and technology changes in order to build intelligence and create insight through the identification of patterns and interdependencies. From this starting point, we work with organisations to plan and deliver targeted action.

• Adaptation reporting power

  RSK can support reporting authorities that have been directed by the secretary of state to prepare reports concerning the assessment of climate-related impacts upon organisations and can also help these organisations with proposals and policies for adapting to climate change. We can provide climate change modelling and the identification of risks and appropriate adaptation measures, including policies and proposals.