What is TCFD, the Task Force on Climate-related Financial Disclosures?
The Financial Stability Board established the Task Force on Climate-related Financial Disclosures (TCFD) so investors can benefit from more relevant, clear and consistent information regarding the financial risks and opportunities that companies face in light of climate change. The 11 recommendations from the TCFD that were introduced in 2017 as voluntary measures are quickly becoming integrated into regulatory frameworks across the globe, with many jurisdictions making TCFD-related disclosures mandatory in the near future.
The GRESB TCFD Alignment Report
Available to entities reporting to any of the three GRESB Assessments – Real Estate, Infrastructure Fund, and Infrastructure Asset – the TCFD Alignment Report allows you to:
- Identify TCFD gaps. See where you can improve disclosures at any level of granularity, whether as an overview, at a category level or in-depth at the 11 recommended disclosures.
- Compare yourself against peers. Gauge how your peer group aligns with TCFD and what recommendations are being prioritized.
- Learn how you can align. Getting up to speed can be challenging. Use the TCFD Alignment Report to see how the GRESB Assessment can help get you fully aligned with disclosure expectations.
- Engage with investors. Give investors confidence in your climate-related risk management processes, and demonstrate your increasing TCFD alignment over time.
Best of all – no additional reporting is required. The TCFD Alignment Report is created with the data already provided through the GRESB Assessments.
Are you ready for TCFD?
Today, less than 20% of GRESB Participants have the necessary processes, strategies, and data collection systems in place to satisfy TCFD.
Most organizations are simply not ready for TCFD and have not translated their strategies into relevant risk management processes.
However, just by participating in the assessments, GRESB Members have already taken the first steps towards TCFD disclosures and can generate the TCFD Alignment Report without additional reporting efforts.