The Financial Stability Board (FSB) has announced that it is establishing an industry-led disclosure task force on climate-related financial risks. The Task Force on Climate-related Financial Disclosures (TCFD) will develop voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders.

The FSB notes that the wide range of existing disclosure schemes relating to climate or sustainability highlights the need for companies and relevant stakeholders to reach a consensus on the characteristics of effective disclosures and examples of good practices. In doing so the FSB will seek to develop a set of recommendations for consistent, comparable, reliable, clear and efficient climate-related disclosures, as set out in its November 2015 proposal.

View FSB to establish Task Force on Climate-related Financial Disclosures, 4 December 2015