Climate reporting requires ‘shift in approach’ to reflect TCFD principles
Study reveals just 154 UK firms made any reference to the Task Force on Climate-related Financial Disclosures (TCFD) in their 2020 reporting.
Image: Amgun/Shutterstock
Just 49 companies are undertaking the most detailed kind of climate reporting according to principles laid out by the Task Force on Climate-related Financial Disclosures (TCFD).
While that may not sound disastrous, the government has spelled out plans for mandatory TCFD reporting for all companies by 2025. Premium listed companies must use the reporting framework for financial years beginning from January this year. The clock is ticking.
While time is short, few companies seem to have grasped the nettle. According to the report from FTI Consulting, an international business advisory firm, just 154 companies make any reference to TCFD at
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda
Related Stories
-
Shell reports gender pay gap of 22.2%
Energy giant Shell reveals that its female employees are paid one-fifth less than its male employees, based on an average hourly rate.
-
Norway’s sovereign wealth fund to disinvest from oil and gas
Norges Bank, advisers to the Norwegian government, has proposed selling oil and gas assets estimated to be worth $37bn.
-
Regulators make climate demands of financial services
The Bank of England's regulator, the PRA, has published proposals on what it expects the boards of financial services firms to do to tackle climate risk.
