Concurrent with the release of its 2023 status report on October 12, 2023, the TCFD has fulfilled its remit and disbanded. The FSB has asked the IFRS Foundation to take over the monitoring of the progress of companies’ climate-related disclosures.
Historical data:
In 2015 the Financial Stability Board (FSB) created the Task Force on Climate-related Financial Disclosures (TCFD).
Its aim was to create financial risk disclosures so that banks, investors and stakeholders could have reliable information on the exposure to climate-related risks and opportunities, and “strengthen the stability of the financial system, contribute to greater understanding of climate risks and facilitate financing the transition to a more stable and sustainable economy” (UNEP FI, 2022).
The TCFD has issued a Final Report on “Recommendations of the Task Force on Climate-related Financial Disclosures” on 2017 and has launched a number of pilot projects that would assist explore and evaluate physical and transition risks and develop best practices, frameworks and guidelines. Those projects included a large number of financial institutions and used climate scenario analysis.
Pilot projects for Banks, Insurers and Investors were launched and can be found below:
UNEP FI TCFD Banking Pilot Projects
UNEP FI TCFD Banking Pilot Projects – Resources
TCFD has also developed a large number of publications on various climate related subjects such as:
TCFD related trainings that can be delivered Online or In person by UNEP FI
Details, agendas and presentations of various Webinars previously delivered by TCFD are also available at its website
Finally, a Knowledge Hub can assist any company find the assistance needed to implement TCFDs recommendations