Advancing Meaningful Climate Action from TCFD Disclosures

TCFD reporting is gaining increased support, and there has been a rise in  climate disclosures, but are current disclosures decision-useful? 

In response to the increasing impacts of climate change on businesses, both now and in the future, more companies have been publishing climate disclosures following TCFD recommendations to promote transparency, efficiency and resilience. To help assess and enhance the usefulness of disclosures, WSP conducted a study using 50 TCFD disclosures cutting through multiple sectors and geographies and developed a maturity framework to assess companies’ TCFD disclosures. 

TCFD Insight1-500

The study identified sectoral and regional variations in disclosures, that can be tied to a lack of formal governance structure or strategic frameworks in certain regions.

TCFD Insight2-500

TCFD disclosures can help identify the maturity of a company, aiding investors in assessing a company’s understanding of climate change impact on business and their level of preparedness.

TCFD Insight3-500

The maturity model, developed through the Benchmarking Tool, helps inform a set of narratives to help companies understand how to advance to the next phase.

Meet our contributors: Get to know the experts behind the study

Emily Wasley
Senior Project Director and Future Ready Advisor
United States
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Rick Alsop
Advisor, Climate Change & Resilience, Environment
Canada
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Daniel Gribbin
Corporate Sustainability Leader
United Arab Emirates
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Michael Mondshine
Vice President and Director of Sustainability, Energy and Climate Change
United States
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Katharine Thorogood
Senior Consultant, Environment & Sustainability
United Kingdom
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Kieran Power
National Lead for Resilience and Climate Adaptation
Australia
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Brigitte Hicks
Coordinator SHE - Sustainability
New Zealand
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