Cervest’s TCFD supporter infographic depicts a range of insights about organizations that have pledged support for the widely-adopted framework.
New analysis from Cervest has unearthed surprising trends about the 3063 organizations that have voiced support for the Task Force of Climate Related Financial Disclosures’ (TCFD) recommendations for climate-related financial disclosure. Key findings from the review include that Asia Pacific is home to more supporters than any other region (41%) and worldwide interest in COP26 triggered a marked expansion of voluntary signups.
Download the infographic to find out more.
The international ‘gold standard’
The TCFD’s 11-part recommendations were released in 2017, and have since become the internationally-recognized gold standard for climate-related financial disclosure, with major economies like the United Kingdom and New Zealand enshrining them in law, and the United States likely to follow suit.
Since release, more than 3,000 organizations have pledged their support for the TCFD’s recommendations, agreeing they provide “a useful framework to increase transparency on climate-related risks and opportunities within financial markets”. Hailing from 87 different countries, supporters have pledged to implement the of the TCFD’s 11-point proposals internally and to champion their adoption by other organizations and sectors within their economy.
Demand for disclosure
The global support for the TCFD’s framework signals the international business community’s growing appreciation for the importance of divulging risk in a consistent, decision-useful format. It mirrors the results of Cervest’s 2021 climate-related financial disclosure survey, which found that more than 60% companies are planning to disclose their climate risks over the next 12 months.
Climate-related financial disclosures have a crucial role to play as our world adapts to the effects of climate change. By providing decision-useful intelligence to investors, insurers, regulators, consumers and other stakeholders, disclosure supports accurate risk assessments, more efficient capital allocation, and more effective strategic planning, all of which helps communities and organizations embrace climate resilience.
For more insights about TCFD supporters, check out Cervest’s infographic here.
If you want to learn more about making a TCFD-aligned disclosure backed by data, download our free ebook.
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