Businesses are under growing pressure to accurately disclose the impacts and risks they face as a result of climate change and other environmental issues.
The climate disclosures space can be difficult for companies to navigate, encompassing various reporting requirements, frameworks, and voluntary initiatives.
Climate-related disclosures can be used to support the business’ net zero and climate goals, and to illustrate how the company is planning on achieving its targets. For this reason, it is crucial that ESG and risk managers remain up to date with requirements, guidance, and developments in the climate disclosures landscape.
Climate Disclosures Working Group
Join our Climate Disclosures Working Group
The Climate Disclosures Working Group is a participant-only forum which supports companies to address the challenges and opportunities associated with climate-related disclosures. The Climate Disclosures Working Group meets quarterly online to:
- bring participating UK Network members together with experts and peers to explore issues arising from climate-related disclosures;
- share good practices and identify concrete actions that companies, both individually and as a group, can take to make progress on disclosures; and
- help shape future discussions and developments regarding climate-disclosures using the group’s collective voice.
To join the group contact Alexandra Ranft, Senior Project Manager, Environment Team.
The Group’s Terms of Reference can be found here.
Some prominent climate-related disclosure requirements and standards include:
- Task Force on Climate-Related Financial Disclosures (TCFD)
- IFRS Foundation’s International Sustainability Standards Board (ISSB)
- UK Sustainability Disclosure Requirements (SDRs)
- Voluntary sustainability reporting frameworks: GRI, SASB, CDP, CDSB
- The Taskforce on Nature-related Financial Disclosures (TNFD)
- Net Zero Transition Plans
- EU’s Corporate Sustainability Reporting Directive
- TCFD WG Annual Summary Report 2021/2022
Much of this work is shaped by the TCFD Recommendations, released in 2017 to help standardise climate-related financial disclosures and provide comparable and useful data to investors and stakeholders. In 2021, the Financial Conduct Authority introduced a Listing Rule mandating TCFD-aligned disclosures for premium-listed companies. The ISSB is also undergoing work to publish a global sustainability reporting standard and a climate-specific standard to streamline this.