The TCFD was formed by the Financial Stability Board (FSB) in 2015 in response to the potential threat that climate change posed to the global financial system; and a lack of transparent, consistent and high-quality financial information related to the risks and opportunities of climate change.
In June 2017, the TCFD published a set of recommendations focused on four core operational elements – governance, strategy, risk management and metrics, and targets. As one of the high-profile international reporting frameworks, TCFD is gaining momentum with many Australian entities who have already expressed support for the recommendations.
According to Brendan Tapley, WSP’s Associate Director for Sustainability, “While there is no current regulation of climate-change related disclosures in Australia, we are moving in that direction. In January 2018, more than half of the property companies listing on the ASX50 identified climate change as a ‘material business risk’, and we expect this trend to grow.
“Reporting against the TCFD framework does not need to be a daunting task. Our whitepaper outlines the pathway to disclosing opportunities and risks.”
Click here to download the whitepaper.
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