Gustavo Bernal Torres
TCFD's 2021 Status Report
This report provides an update on key TCFD-related developments and initiatives supporting the TCFD as well as the results of the Task Force’s annual review of climate-related reporting
Global momentum behind the Task Force’s work has grown significantly over the past year (Figure ES2). Multiple jurisdictions have proposed or finalized laws and regulations to require disclosure aligned with the TCFD recommendations — some coming into effect as early as 2022. The TCFD recommendations are also the basis upon which international accounting standard setters are building global standards for climate risk disclosure.
The report also describes key findings from an analysis of disclosures on the financial impact of climate-related risks and opportunities on companies’ businesses and strategies. Overall, the Task Force is pleased to see increased maturity in climate-related disclosure efforts but believes significant work remains to “mainstream” consideration of climate-related issues within financial decision-making.