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May 2, 2018

Knowledge Hub to help organisations implement the TCFD recommendations launched

By Joe Pickard

The Task Force on Climate-related Financial Disclosures (TCFD) and the Climate Disclosure Standards Board (CDSB) have launched the TCFD Knowledge Hub; a platform with insights, tools and resources to help organisations implement the TCFD recommendations.

At the time of its launch the Knowledge Hub had over 300 resources submitted by 32 contributors. 80 of the resources cover governance, 236 strategy, 152 risk management and 125 metrics & targets.

Resources include existing legislation and regulations, frameworks, standards, guidance, research papers, tools and webinars. All resources either directly address the TCFD recommendations or are related to themes or specific requirements within the TCFD recommendations.

The TCFD Knowledge Hub will be updated with case studies on companies which have begun to implement the TCFD recommendations.

Mary Schapiro, special advisor to the TCFD chair and head of the TCFD Secretariat, said: "With the disclosure recommendations finalised last June, we have been working to assist companies and sectors with implementing the recommendations and making climate-related financial disclosures a reality.

“The TCFD Knowledge Hub will make it easier for companies to take the steps necessary to provide transparency to the capital markets about how the company identifies, measures, manages and mitigates climate-related financial risk. With more companies providing case studies and best practices others will follow suit."

Climate Disclosure Standards Board managing director Simon Messenger commented: "The Hub is designed to help both organisations that are just starting to work on the TCFD recommendations, as well as those who are already on the journey and need insightful resources to deal with specific challenges.

“As the focus of reporting shifts towards a clear financial angle, we expect to see organisations continue to develop new resources and provide examples of how to embed climate-related matters into their strategy, their governance processes and wider internal processes and how to integrate climate-related information into enhanced reporting practices."

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