Task Force on Climate-Related Financial Disclosures (TCFD)

The Financial Stability Board (FSB) created the TCFD to develop recommendations on the types of information that companies should disclose to support investors, lenders, and insurance underwriters in appropriately assessing and pricing a specific set of risks – risks related to climate change. The TCFD offers a set of climate-related ﬁnancial disclosure recommendations, structured around four thematic areas that represent core elements of how companies operate: governance, strategy, risk management, and metrics and targets. The recommendations are supported by specific disclosures organisations should include in financial filings or other reports to provide decision-useful information to investors and others.

It is important to note that the TCFD framework has been mandatory to report through for certain organisations in the United Kingdom since 6 April 2022. Please see the TCFD section of this guide for more information on the TCFD regime in the UK.

Key facts
Year	2015
Region	International
Scope of Information	Climate
Industry Agnostic or Specific	Industry Agnostic + Industry specific supplements
Target Audience	Banks, Insurers, Investors, Other financial institutions
Approach to Materiality	Enterprise value creation
Time Horizon	Short-, Medium-, and Long-term
Key Outputs	Exposure data from climate stress test to be disclosed and managed