Advancing Meaningful Climate Action from TCFD Disclosures

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. 

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 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.

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.