Join the hundreds of companies voicing support for TCFD recommendations
Jennifer Gerholdt Director, Corporate Engagement at the We Mean Business coalition
Since the launch of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) recommendations one year ago, the drive to deliver greater transparency to investors around climate risks and opportunities is accelerating rapidly.
More and more companies are using the guidelines to help signal their commitment to climate action, improve engagement with key stakeholders and better future-proof their bottom lines.
In order for this progress to continue, its vital that leading businesses show their support for implementing the recommendations, even if those companies are yet to fully implement them themselves.
Business leaders are invited to join the 390+ companies, with a market cap of over $7.1 trillion, plus 48 other organizations that have expressed their support for the TCFD recommendations.
So far this group includes over 200 financial firms, responsible for assets of over $86.2 trillion and located in 40 countries, including Bank of America, BlackRock and Citigroup. Supporters also span a variety of other industries, including energy utilities such as Enel and Iberdrola, chemicals companies such as Akzo Nobel, oil majors such as Royal Dutch Shell and metals & mining companies including Tata Steel.
Supporting the TCFD recommendations is a natural next step for companies that are already looking to harness the benefits of climate-related disclosure. By showing support, companies have the opportunity to demonstrate to their investors, clients and employees that they are engaging proactively with the risks and opportunities presented by climate change.
Supporting the TCFD recommendations does not mean that companies have to implement them straight away. Climate-related disclosure is a journey for many companies that will evolve over time as organizations, investors, and others contribute to the quality and consistency of the information disclosed. Those companies that do want to be among the first can also commit to implementing the TCFD recommendations within 3 years, through our TCFD implementation commitment.
Companies can express their support for the TCFD recommendations via email to [email protected] or can submit a form and have their name added to the list of supporters on the TCFD website.
For more information, visit the TCFD Supporters and TCFD Knowledge Hub.
Join the Secretariat of the Financial Stability Board’s TCFD in special webinar on August 8, to learn how your company can become a supporter of the TCFD and showcase leadership in the face of climate change.
The Secretariat will review the benefits of showing support, show how momentum built through support will help drive this global initiative and explain how you can take steps internally to bring your company on board.
The Task Force is building support in advance of the Bloomberg Global Business Forum and One Planet Summit on September 26, at which the TCFD will publish an update report to the FSB. The webinar will help to address any questions on TCFD support ahead of the announcement in September.