On 13 October 2022, the Task Force on Climate-related Financial Disclosures (TCFD) published its 2022 Status Report.

As part of its assessment, the TCFD reviewed publicly available reports of over 1,400 companies from eight industries and five regions to better understand current climate-related financial disclosure practices and their evolution.

Key takeaways from the report include:

• The percentage of companies disclosing TCFD-aligned information continues to grow, but a more urgent process is needed.
• All regions have significantly increased their levels of disclosure over the past three years.
• A majority of asset managers and asset owners report to their clients and beneficiaries.
• Nearly 50% of asset managers and 75% of asset owners reported information aligned with at least five of the 11 recommended disclosures.
• The percentage of companies disclosing the TCFD recommendations in financial filings or annual reports has increased each year.
• The availability and quality of climate-related financial disclosures has increased since June 2017.
• Investors and others use disclosures in decision-making and pricing.

Over the next several months, the TCFD will continue to monitor companies’ progress in disclosing climate-related financial information aligned with its recommendations and will prepare another status report for the Financial Stability Board in October 2023.