Strategic Focus: TCFD Reporting Reality Check
20 Jan, 2023
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Executive Summary
Support for the Task Force on Climate-Related Financial Disclosures (TCFD) continues to grow. However, the recent 2022 TCFD ‘Status Report’ highlighted new and old challenges that preparers are facing. With the framework now serving as the backbone for climate-related disclosure rules all over the world, corporates will need to look for consulting and software partners to overcome TCFD reporting challenges and withstand the reputational, investor and competitor pressure. This report should be leveraged by executives in ESG and sustainability and finance functions to enhance their TCFD data collection and reporting ahead of the upcoming regulations.
TCFD Reporting Reality Check
TCFD Support Is Increasing Worldwide As New TCFD+ Regulations Arise
TCFD-Aligned Disclosed Information Is Growing, But Firms Are Still Selective On What To Disclose
Software Solutions And Consulting Services Can Support Corporates With TCFD Alignment
Challenges Associated With Disclosing Under The TCFD
Vendors Can Look For Partners To Support Their TCFD Data Preparedness And Disclosures
TCFD Support Is Increasing Worldwide As New TCFD+ Regulations Arise
TCFD-Aligned Disclosed Information Is Growing, But Firms Are Still Selective On What To Disclose
Software Solutions And Consulting Services Can Support Corporates With TCFD Alignment
Challenges Associated With Disclosing Under The TCFD
Vendors Can Look For Partners To Support Their TCFD Data Preparedness And Disclosures
Figure 1. Most Significant Rules Or Frameworks To Increase Corporate Spend Over The Next Two Years
Figure 2. The TCFD Recommendation Framework
Figure 2. The TCFD Recommendation Framework
Accenture, Task Force on Climate-related Financial Disclosures (TCFD), Greenomy, EY, Greenly, ENGIE Impact, Novisto, KPMG, Workiva, European Financial Reporting Advisory Group (EFRAG), Capgemini, Optera, International Sustainability Standards Board (ISSB), European Council, Carbmee, APlanet, Japanese Financial Services Agency, ServiceNow, Arcadis, ERM, European Parliament , Sarasin & Partners, Sphera, Sustainability Accounting Standards Board (SASB), Cervest, Financial Stability Board (FSB), US Securities and Exchange Commission (SEC), Deloitte, Climate X, Tokyo Stock Exchange, FigBytes, Benchmark ESG, PwC
About the Authors
Alessandra Leggieri
Industry Analyst
Alessandra is an Industry Analyst at Verdantix, specializing in carbon management and software for product carbon footprints. Her research spans over 100 vendors in the carbon…
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Kim Knickle
Research Director
Kim Knickle is a Research Director at Verdantix, bringing more than two decades of analyst experience to the evolving world of sustainability. Her current research spans ESG a…
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