Helping you to future-proof your business
TCFD reporting may seem daunting, but don’t panic! Many businesses have the same concerns about first-time reporting as you do.
We know that not everybody comes into TCFD reporting with technical training, so we’ve written this how-to guide to introduce the process to beginners.
We’ve incorporated the hard-earned wisdom of leading experts in the field to produce this blueprint, helping you devise a plan to assess effectively how your business can thrive in a world altered by the climate crisis.
TCFD reporting in six steps
-
Assemble
your team -
Set your
scenarios -
Physical risk
assessment -
Transition risk
assessment -
Define
metrics -
Complete
report
Step 1: Assemble your team
A multidisciplinary team will enable you to identify and handle climate-related risks across the business effectively.
Step 2: Set your scenarios
Identify the climate risks facing your business over a series of time frames and different warming scenarios.
Step 3: Physical risk assessment
Collect and map data to determine what and where physical risks of climate change may impact your business.
Step 4: Transition assessment
Assess how socio-economic fluctuations, resulting from society’s response to climate change, could impact your business.
Step 5: Define metrics
Assign a monetary value to the climate risks you have identified and agree on goals for your climate transition plan.
Step 6: Complete report
Present findings to your board of directors, agree on what to disclose and produce your external-facing report for publication.
Access our TCFD how-to guide
Webinar: Is your business ready to report in line with TCFD regulations?
Once you have read our how-to guide, you might like to listen to our TCFD webinar for practical advice on best practices, lessons learned from early adopters and guidance on the future of TCFD and sustainability disclosures.
The webinar panel includes expert speakers sharing their experiences and insights from the Financial Reporting Council, the New Zealand Ministry for the Environment and the International Financial Reporting Standards Foundation.
Watch the TCFD in Action webinarSurvey: Is TCFD a strategic tool or a box-ticking exercise?
In February 2022, we surveyed 100 C-level executives across the UK to assess their attitudes towards mandatory TCFD reporting. We sought to understand:
⇲ Are boards discussing climate risks?
⇲ Will TCFD encourage more senior-level discussions on the climate crisis?
⇲ How will businesses deal with a lack of guidance on how much to disclose?
⇲ How much are businesses budgeting for TCFD?
⇲ Is TCFD seen as a strategic tool or a box-ticking exercise?
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