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 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

Table of figures

Figure 1. Most Significant Rules Or Frameworks To Increase Corporate Spend Over The Next Two Years
Figure 2. The TCFD Recommendation Framework

About the authors

Alessandra Leggieri

Industry Analyst
Alessandra Leggieri is an Industry Analyst in the Verdantix Net Zero & Climate Risk practice. Her current research agenda focuses on solutions for GHG emissions and net zero management, covering technologies and services. Prior to joining Verdantix, Alessandra completed an MSc in Environmental Technology at Imperial College London.

Kim Knickle

Research Director, ESG & Sustainability
Kimberly Knickle is Research Director of the ESG & Sustainability practice at Verdantix. Her research areas encompass ESG regulations and reporting, ESG risk, supply chain sustainability, circular economy, social impact, and sustainable finance. Kim has worked for more than 20 years in the IT industry, providing research and analysis to help companies invest wisely in new technologies. Before joining the analyst industry, she held various roles in IT services, engineering and product safety testing, beginning her career at Underwriters Laboratories, Inc. Kim holds an MBA from Boston University and a BS in Electrical Engineering from Cornell.

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