55 Companies committed
See CompaniesImplement the recommendations of the Task Force on Climate-related Financial Disclosures
Climate change poses serious risks to the global economy. Nonetheless, investors and financial markets lack clear and comparable information about which companies or assets are most exposed to this issue and which are best prepared.
To address this issue, companies are encouraged to commit to implement the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The TCFD has published recommendations for reporting climate-related financial information in mainstream reports (annual financial filings).
Companies, investors and financial organizations globally are encouraged to implement the recommendations to allow a more efficient allocation of capital, improve the dialogue among all financial players and support a smooth and rapid transition to a low-carbon economy.
Resources
How companies can engage in this initiative
In order to make this commitment, companies will be required to:
- Agree with the wording of the commitment
- Sign the commitment
- Report climate-related financial information following the TCFD recommendations as fully as practicable within three years from the date of the commitment;
- Use the CDSB Framework for reporting environmental information, natural capital and associated business impacts or other applicable reporting frameworks to produce such information on a common and consistent basis
Please note
The initiative ‘Commit to implement the recommendations of the Task Force on Climate-related Financial Disclosures’ is an update to the previous We Mean Business coalition initiative ‘Commit to report climate change information in mainstream reports as a fiduciary duty’. The previous initiative saw hundreds of companies becoming signatories to the CDSB Statement on fiduciary duty & climate change disclosure and agreeing to work toward reporting climate change-related information in mainstream corporate reports, using a recognized international framework such as the CDSB Framework for reporting environmental information, natural capital and associated business impacts.
These companies are listed below under ‘CDSB statement signatories’ and remain part of the coalition’s Take Action campaign. Companies signed up to the previous commitment are encouraged to join the new initiative and continue their leadership in climate reporting.
The business case
1. Good for business
Delivering on the recommendations helps companies become more resilient to the physical and transitional risks associated with climate change. Companies investing in the assessment and understanding of climate-related risks and opportunities will be able to make better decisions for their future business, and support the fair and orderly market transition to a low-carbon economy.
Disclosing information about the material financial risks that climate change creates is critical for the stability of our financial system. At Philips Lighting we recognize not only the risks that climate change is already creating, but also the wide economic opportunities that the low-carbon transition is creating.”Nicola Kimm, Head of Sustainability, Environment, Health & Safety, Philips Lighting
2. Increase transparency
Improved disclosure and better quality reporting of the financial risks and opportunities that climate change creates will benefit companies’ relations with investors, stakeholders and the wider public.
Climate change increasingly poses serious threats to the stability of our economic system. It is critical that businesses continue to report consistent, comparable and reliable information on climate change impacts and opportunities to their stakeholders.”Anurag Behar, Chief Sustainability Officer, Wipro Limited
3. Signal commitment
By signing the commitment, these organizations are sending a clear signal that they recognize the economic opportunities that a new low-carbon economy creates, and that they have a business vision which incorporates the management of long-term climate risks.
TCFD recommendations represent a useful tool to show our providers of capital how we are addressing and managing the challenges posed by the energy transition, and at the same time, they provide us the framework for emphasizing the environmental credentials of gas as a sustainable energy source and its advantages compared to other alternative fossil fuels.”Marcelino Oreja Arburúa, CEO of Enagás
4. Share your experience
You will be part of a forward-thinking group of companies looking to implement the recommendations for the first time. Being part of such a group will help you share your experience and learn from others.
5. Receive support
Companies who make the commitment will be supported by CDSB and other expert organizations in their implementation process. As a non-profit consortium with 10 years of experience of climate change reporting in mainstream filings, CDSB can provide you with the tools to deliver on the commitment and overcome the barriers that you might find on this journey.
Commmitted Companies
Click on the company name to see everything they are committed to.
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E.SUN Commercial Bank
E.SUN Commercial Bank
has committed to
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Galp Energia SA
Galp Energia SA
has committed to
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Hannon Armstrong Sustainable Infrastructure Capital, Inc
Hannon Armstrong Sustainable Infrastructure Capital, Inc
has committed to
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LUX* Hotels & Resorts
LUX* Hotels & Resorts
has committed to
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ADP (Aeroports de Paris)
ADP (Aeroports de Paris)
has committed to
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Allied Electronics Corporation Ltd (Altron)
Allied Electronics Corporation Ltd (Altron)
has committed to
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AUO Corporation
AUO Corporation
has committed to
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Australia and New Zealand Banking Group
Australia and New Zealand Banking Group
has committed to
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Carillion
Carillion
has committed to
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China Steel
China Steel
has committed to
- CLP Group
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Club Mediterranee
Club Mediterranee
has committed to
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CNH Industrial NV
CNH Industrial NV
has committed to
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Cobham
Cobham
has committed to
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Coca-Cola Femsa
Coca-Cola Femsa
has committed to
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Compañía Española de Petróleos, S.A.U. CEPSA
Compañía Española de Petróleos, S.A.U. CEPSA
has committed to
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Convivio
Convivio
has committed to
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Correos (Grupo Sepi)
Correos (Grupo Sepi)
has committed to
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Coway Co Ltd
Coway Co Ltd
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Daimler AG
Daimler AG
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Duratex S/A
Duratex S/A
has committed to
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Euromoney Institutional Investor PLC
Euromoney Institutional Investor PLC
has committed to
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Exxaro Resources Ltd
Exxaro Resources Ltd
has committed to
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Fiat Chrysler Automobiles NV
Fiat Chrysler Automobiles NV
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Firstrand Limited
Firstrand Limited
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HOCHTIEF AG
HOCHTIEF AG
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Honda Motor Company
Honda Motor Company
has committed to
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Infigen Energy
Infigen Energy
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Ingenico
Ingenico
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Italcementi
Italcementi
has committed to
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Lenovo
Lenovo
has committed to
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National Express Group Plc
National Express Group Plc
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Natura & Co
Natura & Co
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Netcare Limited
Netcare Limited
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Novion Property Group
Novion Property Group
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PTT
PTT
has committed to
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PTT Exploration & Production Public Company Limited
PTT Exploration & Production Public Company Limited
has committed to
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PTT Global Chemical
PTT Global Chemical
has committed to
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Royal Bafokeng Platinum Ltd
Royal Bafokeng Platinum Ltd
has committed to
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Royal Philips N.V.
Royal Philips N.V.
has committed to
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SolarWorld AG
SolarWorld AG
has committed to
- SSE Plc
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Standard Life Aberdeen
Standard Life Aberdeen
has committed to
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T.SINAİ KALKINMA BANKASI A.Ş.
T.SINAİ KALKINMA BANKASI A.Ş.
has committed to
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Tata Sons Limited
Tata Sons Limited
has committed to
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Terna S.p.A.
Terna S.p.A.
has committed to
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THALES SA
THALES SA
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Tiger Brands
Tiger Brands
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Tongaat Hulett Ltd
Tongaat Hulett Ltd
has committed to
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Transnet
Transnet
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Virgin Management Limited
Virgin Management Limited
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Warehouse Group
Warehouse Group
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Weatherford International Ltd.
Weatherford International Ltd.
has committed to
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Wesfarmers
Wesfarmers
has committed to