On 3 November 2021, the Institute of International Finance (IIF) launched a new TCFD Guidance Template to help financial institutions align their climate-related disclosures with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), with a focus on the banking sector.

Drawing in observed industry practices, including mapping and benchmarking of TCFD reports from the banking sector, the template is designed as a voluntary open-source toolkit to complement existing resources, aligned with the revised recommendations and guidance released by the TCFD in October 2021.

The TCFD Guidance Template is designed to act as a supporting resource that firms can draw on where relevant to their business models and strategic objectives. The intention of this is to:

  • Support firms to respond to evolving disclosure needs, including on emerging disclosure themes.
  • Support firms in their effort to structure key quantitative and qualitative disclosures where different practice exists.
  • Enable firms to improve the granularity of key quantitative and qualitative disclosures, including business-line and product-specific levels.
  • Over time, support industry dialogue to drive greater comparability in disclosures by helping to identify sets of common metrics and indicators relevant to different business models.

The template reflects the latest developments in areas of metrics, targets and other quantitative information which financial institutions may seek to disclose, including the evolving areas of climate-related commitments and transition plans.