Climate Risk Reporting: What Directors should know, right now
The Task Force on Climate-related Financial Disclosures (TFCD), chaired by Michael Bloomberg, has been quietly working away on recommendations for corporate reporting of climate change risk. Companies will almost immediately need to take action. As the Wall Street Journal reports: “Working out who might be hit next is challenging for investors. The potential impact and costs of climate change are complex to estimate, particularly given the long time horizon and range of pathways the world might take as it tries to decarbonize. By forcing companies to work through different scenarios publicly, the TCFD reporting should bring some much-needed clarity to risks outside of obvious problem sectors like oil and gas. It should also shed light on climate leaders and laggards within sectors.”
The following is a link to an Insight from acumen7 member Peter Dixon, looking at what Directors should know, right now.