Strategic Focus: TCFD Reporting Reality Check
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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.
Table of contents
TCFD Reporting Reality CheckTCFD 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
Table of figures
Figure 1. Most Significant Rules Or Frameworks To Increase Corporate Spend Over The Next Two YearsFigure 2. The TCFD Recommendation Framework
Organisations mentioned
Accenture, APlanet, Arcadis, Benchmark ESG, Capgemini, Carbmee, Cervest, Climate X, Deloitte, ENGIE Impact, ERM, European Council, European Financial Reporting Advisory Group (EFRAG), European Parliament , EY, FigBytes, Financial Stability Board (FSB), Greenly, Greenomy, International Sustainability Standards Board (ISSB), Japanese Financial Services Agency, KPMG, Novisto, Optera, PwC, Sarasin & Partners, ServiceNow, Sphera, Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), Tokyo Stock Exchange, US Securities and Exchange Commission (SEC), WorkivaAbout the authors
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