TCFD: Taskforce on Climate-Related Financial Disclosures
In line with its mission to address global issues through practical local action, the UN Global Compact Network UK launched a Working Group to foster dialogue on the Task Force on Climate Related Financial Disclosures (TCFD WG). The Working Group explores opportunities and issues arising from the TCFD, and supports companies’ adoption of the recommendations.
The purpose of the TCFD Working Group is to:
- bring participating UK Network members together with experts to explore issues arising from the TCFD;
- support network members in implementing the recommendations; and
- 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 TCFD using the group’s collective voice.
The TCFD Working Group's Terms of Reference can be found here.
TCFD Working Group 2020 Annual Summary Report
The TCFD Working Group held four virtual meetings between June 2020-February 2021, during which experts and members shared their insights, experience, and learnings of TCFD reporting. The meetings covered the following aspects:
- Implementing the TCFD recommendations;
- Current status of TCFD-aligned disclosures;
- External influences and drivers of TCFD reporting;
- Methods for conducting scenario analysis.
A summary of the meetings can be found in our 2020 Annual Report, found here.
If you would like to find out more and/or register your interest in the WG, please contact our Climate Action Programme Manager, Amy Collins.
TCFD Working Group
VIRTUAL WORKSHOP: Implementing the TCFD Recommendations - 22 May 2020
The UN Global Compact Network UK hosted a virtual workshop on the Task Force on Climate-Related Financial Disclosures (TCFD) with The Prince's Accounting for Sustainability Project (A4S). The workshop took place online on 22 May 2020.
Designed for finance and sustainability professionals across all sectors, the workshop focused on the practical steps teams could take to adopt the TCFD recommendations. Participants:
- Gained a broader understanding of the TCFD, the latest trends, and findings on adoption of the recommendations;
- Heard from Jonathan Dunn, Head of International Policy and Planning at Anglo American on how to start implementing the recommendations and the company's own experiences (focus on scenario analysis);
- Developed a broader understanding of climate risks and opportunities.
We encourage all those who were unable to attend the workshop to watch the recording here.